03-13-2025, 11:50 PM
Solana price bottom below $100? Death cross hints at 30% drop
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NThmYWYtYThhZi03NjA0LTgzMTAtODk5NmYzNzZjZDU0.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NThmYWYtYThhZi03NjA0LTgzMTAtODk5NmYzNzZjZDU0.jpg" alt="Solana price bottom below $100? Death cross hints at 30% drop"></p><p>Solana<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="" target="_self" text="null" title="https://cointelegraph.com/solana-price-index"> (SOL) </a>price completed a “death cross” on the one-day chart on March 12, as the altcoin consolidated near its long-term support level at $125. <p>This could potentially accelerate the SOL price sell-off in the near term for a drop below $100 for the first time since February 2024. </p><figure><img alt="Markets, Price Analysis, Market Analysis, Altcoin Watch, Solana" src="https://s3.cointelegraph.com/uploads/2025-03/01958fd9-6d0d-78ef-8053-d0c0eeea3ddf" title=""><figcaption style="text-align: center;"><p><em>Solana’s 1-day chart. Source: Cointelegraph/TradingView</em></p></figcaption></figure><p>A death cross occurs when a bearish crossover occurs between the 50-day and 200-day simple moving averages (SMAs), with the long-term indicator above the short-term indicator. </p><p>Last month, the 50-day and 200-day exponential moving averages (EMAs) triggered a death cross on Solana’s one-day chart, after which prices dropped 17%, from $137 to $122. </p><p>While the SMA and EMA death crosses carry similar implications, the EMA triggers the death cross faster since it responds more quickly to price changes. A double death cross from the SMA and EMA will likely increase the possibility of a correction. </p><p>Historically, the odds are neutral for Solana. Since its inception, SOL’s price has witnessed a death cross three times (including 2025) when prices have been on a 90-day or higher downtrend. </p><p>The first death cross in 2022 triggered a 90% collapse, but the FTX’s fiasco escalated its severity. The second death cross occurred in September 2024, but it reversed within a month, leading to the Trump rally. </p><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ethereum-can-outperform-rivals-crashing-17-month-lows" rel="null" target="null" text="null" title="https://cointelegraph.com/news/ethereum-can-outperform-rivals-crashing-17-month-lows"><em><strong>Related: 3 reasons why Ethereum can outperform its rivals after crashing to 17-month lows</strong></em></a></p><p>Yet, the current structure and sentiment mirror the 2022 death cross when we compare market conditions. On both occasions, a new all-time high preceded the downtrend, which led to the death cross.</p><p>As Cointelegraph <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/solana-revenue-slumps-90-from-january-high-memecoin-mania-dies" rel="" target="_self" text="null" title="https://cointelegraph.com/news/solana-revenue-slumps-90-from-january-high-memecoin-mania-dies">reported</a>, Solana’s revenue dropped 93% since January, dropping from $238 million to $32 million. This indicates a current lack of activity on Solana’s network after the end of the memecoin frenzy.</p><h2>Can Solana traders defend $125?</h2><p>Based on its technicals, Solana remains in a tricky spot when comparing previous death cross returns and collective market sentiment. </p><p>Solana must hold support between $125 and $110 for a bullish reversal. Since March 2024, SOL prices have rebounded six times after testing the support range, closing above $125 on each weekly retest. </p><figure><img alt="Markets, Price Analysis, Market Analysis, Altcoin Watch, Solana" src="https://s3.cointelegraph.com/uploads/2025-03/01959019-c34a-7b88-8c0d-3579f2f65b49" title=""><figcaption style="text-align: center;"><p><em>Solana 1-week chart. Source: Cointelegraph/TradingView</em></p></figcaption></figure><p>A weekly close below $125 will signal market weakness, potentially increasing the likelihood of a drop below $100. The immediate price target after $110 is around $80 for Solana, which is a significant 30% correction. The downtrend target carries confluence with the weekly 0.5 Fibonacci retracement line. </p><figure><img alt="Markets, Price Analysis, Market Analysis, Altcoin Watch, Solana" src="https://s3.cointelegraph.com/uploads/2025-03/01959031-7b40-7f48-9545-8fb4f4913223" title=""><figcaption style="text-align: center;"><p><em>Solana bullish divergences on the 1-day and 4-hour chart. Source: Cointelegraph/TradingView</em></p></figcaption></figure><p>However, the bulls will pin their hopes on a bullish divergence between the price and relative strength index (RSI) on the 1-day and 4-hour charts. </p><p>If Solana manages to avoid another lower low, the divergences will remain valid, which can push prices higher above $125, enabling Solana to avoid a drop below $100 and possibly establish a bottom at $112. </p><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/will-bitcoin-price-reclaim-95k-before-end-march" rel="" target="_self" text="null" title="https://cointelegraph.com/news/will-bitcoin-price-reclaim-95k-before-end-march"><em><strong>Related: Will Bitcoin price reclaim $95K before the end of March?</strong></em></a></p><p class="post-content__disclaimer" type="">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/solana-pr...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NThmYWYtYThhZi03NjA0LTgzMTAtODk5NmYzNzZjZDU0.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NThmYWYtYThhZi03NjA0LTgzMTAtODk5NmYzNzZjZDU0.jpg" alt="Solana price bottom below $100? Death cross hints at 30% drop"></p><p>Solana<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="" target="_self" text="null" title="https://cointelegraph.com/solana-price-index"> (SOL) </a>price completed a “death cross” on the one-day chart on March 12, as the altcoin consolidated near its long-term support level at $125. <p>This could potentially accelerate the SOL price sell-off in the near term for a drop below $100 for the first time since February 2024. </p><figure><img alt="Markets, Price Analysis, Market Analysis, Altcoin Watch, Solana" src="https://s3.cointelegraph.com/uploads/2025-03/01958fd9-6d0d-78ef-8053-d0c0eeea3ddf" title=""><figcaption style="text-align: center;"><p><em>Solana’s 1-day chart. Source: Cointelegraph/TradingView</em></p></figcaption></figure><p>A death cross occurs when a bearish crossover occurs between the 50-day and 200-day simple moving averages (SMAs), with the long-term indicator above the short-term indicator. </p><p>Last month, the 50-day and 200-day exponential moving averages (EMAs) triggered a death cross on Solana’s one-day chart, after which prices dropped 17%, from $137 to $122. </p><p>While the SMA and EMA death crosses carry similar implications, the EMA triggers the death cross faster since it responds more quickly to price changes. A double death cross from the SMA and EMA will likely increase the possibility of a correction. </p><p>Historically, the odds are neutral for Solana. Since its inception, SOL’s price has witnessed a death cross three times (including 2025) when prices have been on a 90-day or higher downtrend. </p><p>The first death cross in 2022 triggered a 90% collapse, but the FTX’s fiasco escalated its severity. The second death cross occurred in September 2024, but it reversed within a month, leading to the Trump rally. </p><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ethereum-can-outperform-rivals-crashing-17-month-lows" rel="null" target="null" text="null" title="https://cointelegraph.com/news/ethereum-can-outperform-rivals-crashing-17-month-lows"><em><strong>Related: 3 reasons why Ethereum can outperform its rivals after crashing to 17-month lows</strong></em></a></p><p>Yet, the current structure and sentiment mirror the 2022 death cross when we compare market conditions. On both occasions, a new all-time high preceded the downtrend, which led to the death cross.</p><p>As Cointelegraph <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/solana-revenue-slumps-90-from-january-high-memecoin-mania-dies" rel="" target="_self" text="null" title="https://cointelegraph.com/news/solana-revenue-slumps-90-from-january-high-memecoin-mania-dies">reported</a>, Solana’s revenue dropped 93% since January, dropping from $238 million to $32 million. This indicates a current lack of activity on Solana’s network after the end of the memecoin frenzy.</p><h2>Can Solana traders defend $125?</h2><p>Based on its technicals, Solana remains in a tricky spot when comparing previous death cross returns and collective market sentiment. </p><p>Solana must hold support between $125 and $110 for a bullish reversal. Since March 2024, SOL prices have rebounded six times after testing the support range, closing above $125 on each weekly retest. </p><figure><img alt="Markets, Price Analysis, Market Analysis, Altcoin Watch, Solana" src="https://s3.cointelegraph.com/uploads/2025-03/01959019-c34a-7b88-8c0d-3579f2f65b49" title=""><figcaption style="text-align: center;"><p><em>Solana 1-week chart. Source: Cointelegraph/TradingView</em></p></figcaption></figure><p>A weekly close below $125 will signal market weakness, potentially increasing the likelihood of a drop below $100. The immediate price target after $110 is around $80 for Solana, which is a significant 30% correction. The downtrend target carries confluence with the weekly 0.5 Fibonacci retracement line. </p><figure><img alt="Markets, Price Analysis, Market Analysis, Altcoin Watch, Solana" src="https://s3.cointelegraph.com/uploads/2025-03/01959031-7b40-7f48-9545-8fb4f4913223" title=""><figcaption style="text-align: center;"><p><em>Solana bullish divergences on the 1-day and 4-hour chart. Source: Cointelegraph/TradingView</em></p></figcaption></figure><p>However, the bulls will pin their hopes on a bullish divergence between the price and relative strength index (RSI) on the 1-day and 4-hour charts. </p><p>If Solana manages to avoid another lower low, the divergences will remain valid, which can push prices higher above $125, enabling Solana to avoid a drop below $100 and possibly establish a bottom at $112. </p><p><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/will-bitcoin-price-reclaim-95k-before-end-march" rel="" target="_self" text="null" title="https://cointelegraph.com/news/will-bitcoin-price-reclaim-95k-before-end-march"><em><strong>Related: Will Bitcoin price reclaim $95K before the end of March?</strong></em></a></p><p class="post-content__disclaimer" type="">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/solana-pr...er_inbound