Ethereum

bullish

Solana

<p>Solana (<strong>SOL</strong>) is showing bearish signals against <strong>Ethereum (ETH)</strong>, with technical analyses suggesting a potential correction of over <strong>40%</strong> in the SOL/ETH pair. This forecast urges investors to closely monitor Solana’s critical support levels. As competition between these two blockchain giants intensifies, the near-term outlook appears challenging for Solana.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=postBANNER" target="_blank" rel="noreferrer noopener nofollow"><img loading="lazy" decoding="async" width="728" height="90" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg" alt="Qubetics is 728x90 1 3" class="wp-image-28237" title="Solana Faces Risk Signals: Ethereum Pair Signals Potential Decline 38"></a>
 </figure>
</div> 
<h2 class="wp-block-heading" id="bearish-pattern-emerges-in-sol-eth-pair">Bearish Pattern Emerges in SOL/ETH Pair</h2> 
<p>The weekly chart for SOL/ETH reveals a rising wedge pattern, a classic bearish indicator. This formation signals weakening market momentum and a possible price decline. In a rising wedge, the convergence of upper and lower trendlines indicates fading upward strength.</p> 
<p>Following a strong rally throughout 2023, the pair is now trading near the wedge’s apex. The weekly <strong>RSI indicator</strong>, having corrected from the overbought zone, reinforces this bearish outlook. A breakdown below the wedge’s lower trendline could result in a <strong>40-45% drop</strong>, potentially driving the price down to <strong>0.03779 ETH</strong>.</p> 
<p>Currently, SOL/ETH is trading well above its <strong>50-week EMA</strong>, located around <strong>0.05057 ETH</strong>. A move below this EMA could amplify selling pressure. Additionally, declining trading volumes align with this bearish setup, indicating an acceleration of sell-offs.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="2048" height="1087" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/SOLETH_2024-11-26_17-51-41-2048x1087-1.png" alt="SOLETH 2024 11 26 17 51 41 2048x1087 1" class="wp-image-30712" title="Solana Faces Risk Signals: Ethereum Pair Signals Potential Decline 39" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/11/SOLETH_2024-11-26_17-51-41-2048x1087-1.png 2048w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/SOLETH_2024-11-26_17-51-41-2048x1087-1-768x408.png 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/SOLETH_2024-11-26_17-51-41-2048x1087-1-1536x815.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px">
 </figure>
</div> 
<h2 class="wp-block-heading" id="ethereum-s-positive-outlook-vs-solana-s-challenges">Ethereum’s Positive Outlook vs. Solana’s Challenges</h2> 
<p>Ethereum’s weekly chart is painting a more optimistic picture, forming a rising triangle pattern. The horizontal resistance level of <strong>$4,000</strong> is emerging as a critical target for December. The RSI remains neutral, suggesting room for further upside for Ethereum.</p> 
<p>Conversely, Solana’s performance against the dollar is more cautious. The <strong>SOL/USD pair</strong> is trading near the upper boundary of an ascending channel that has persisted throughout 2024. This resistance zone, particularly between <strong>$210 and $268</strong>, could trigger significant selling pressure. If this scenario unfolds, Solana’s price may retreat to the middle or lower bounds of the channel, targeting the <strong>$145 level</strong>, which aligns with its 50-week EMA.</p> 
<h2 class="wp-block-heading" id="what-this-means-for-investors">What This Means for Investors</h2> 
<p>As highlighted by <strong><a href="https://www.turkishnyradio.com/" target="_blank" data-type="link" data-id="https://www.turkishnyradio.com/" rel="noreferrer noopener">Turkish NY Radio</a></strong>, these technical signals suggest a period of heightened volatility for Solana and Ethereum. While Ethereum shows signs of strength with key bullish indicators, Solana faces mounting risks from its technical setup.</p> 
<p>Investors should carefully assess market trends, keep an eye on critical support and resistance levels, and adjust their strategies accordingly. Whether it’s Ethereum’s upward momentum or Solana’s potential correction, understanding these dynamics is crucial for navigating the current market conditions.</p>

Solana Faces Risk Signals: Ethereum Pair Signals Potential Decline

Table of Contents

TNYR

Other articles published on Nov 27, 2024

Why Qubetics Is the Smart Choice Over VeChain and HNT This November 2024

Bitcoin Trading Volume Continues at Record High Despite Ongoing Dip: Is a BTC Price Reversal Immi...

Revealing the 5 Best Meme Coins to Buy in 2025: Seize the Moment Before It’s Too Late

How BTFD Coin Presale Joins BRETT and MOG as the Best Meme Coins to Buy in 2025

Why Crypto Analysts Rate BTFD Presale, Goatseus Maximus, and Peanut the Squirrel as the Best Meme...

Bitcoin Exchange Binance Announces Listing of Multiple Altcoin Trading Pairs!

Join our free newsletter for daily crypto updates!