Ethereum

Solana

Coin

<ul class="news-points">
 <li>Ethereum ETF approval prompted an altcoin liquidity shift, with SOL down 35% vs ETH on Binance.</li>
 <li>Olszewicz’s analysis shows bearish signals: Ichimoku cloud breach, ascending triangle failure.</li>
 <li>SOL/ETH may temporarily rally on Grayscale outflows.</li>
</ul>
Following the approval of the Ethereum ETF last month, market experts anticipated a potential liquidity outflow from the altcoin market into ETH. Observable trends have aligned with these predictions, as altcoins, including Solana (SOL), are experiencing a downtrend.
TradingView data shows that Solana’s USD value relative to Ethereum has dropped by 35% to 0.038 on Binance. Technical analysis by crypto trader and analyst Josh Olszewicz also indicates a bearish outlook and further outflows for the SOL/ETH pair.
Olszewicz explained that “SOL/ETH is rolling over,” referencing the breakdown of bearish support levels on the Ichimoku cloud, a widely used trend indicator in the financial market.&nbsp;
The chart, developed by Japanese journalist Goichi Hosada, consists of five indicators to identify underlying market trends. These components include Leading Span 1/2, Conversion Line or Tenkan-Sen (T), Base Line or Kijun-S…
The post <a href="https://coinedition.com/solanas-sol-eth-ratio-at-3-month-low-analyst-expects-further-decline/" rel="noopener noreferrer nofollow">Solana’s SOL/ETH Ratio at 3-Month Low, Analyst Expects Further Decline.</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Solana’s SOL/ETH Ratio at 3-Month Low, Analyst Expects Further Decline.

Coin Edition

Other articles published on Jun 20, 2024

Jupiter Exchange Proposes 30% $JUP Token Burn

Bitcoin Gains Ground in Argentina with Milei’s Support

Argentina President Voices Support for Bitcoin, Eyeing Economic Revival

Smart Whale Scores Big Bitcoin Gains

Best Presale in 2024 – MoonBag Wins Arweave and BlastUP Investors By Offering a Soaring 88% APY o...

MoonBag Presale Raises 2.5M In A Month, Sets New Standard for Render and Book of Meme

Join our free newsletter for daily crypto updates!