📉 Solana Weakens While Ethereum Stabilizes
Solana ($SOL ) has retraced 14% from its recent $295 peak to $255. Meanwhile, Ethereum (ETH) holds steady above the $3,100–$3,300 support zone, buoyed by Vitalik Buterin’s announcement halting ETH sales. This divergence highlights Ethereum’s market dominance.
📊 Ethereum Shows Stability Amid Market Volatility
ETH consolidates near the $3,050–$3,208 range, supported by the 200-day Moving Average. With an RSI near 47.57 and narrowing MACD bars, ETH indicates stabilizing momentum, attracting traders and creating resistance for altcoins like Solana.
📉 Solana Faces Increased Selling Pressure
SOL’s price has breached key support levels, including the 50-day SMA at $232.51 and the 200-day SMA at $168.88. The Swing Failure Pattern (SFP) confirms bearish sentiment as buyers fail to sustain momentum, turning $232.51 into resistance.
📈 Solana Price Forecast
With RSI in oversold territory and weak demand, SOL risks a 20% decline. The $168.88 support zone, aligned with the 200-day SMA, is critical. Failure to hold this level could push SOL to $169, signaling intensified selling pressure.
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