Solana Price Crash To $100 Likely As SOL Nears Death Cross, But There’s A Catch
Solana nears a bearish Death Cross, potentially leading to a price crash toward $100, though historical data suggests a possible reversal if losses saturate.Summary
Solana (SOL) is facing renewed bearish pressure as its price slides toward critical support, with technical indicators suggesting a potential Death Cross formation—where the short-term EMA crosses below the long-term EMA. Historically, this pattern has preceded a significant drop, which could send SOL toward $98 or $100, extending its current 47% decline from the local top. This bearish outlook is supported by Solana's net realized profit/loss ratio hitting its lowest level since June 2023, indicating heavy investor losses. However, the article notes a crucial 'catch': when this ratio dips below 0.1, reversals have historically followed, as seen in previous months of 2023. Currently trading around $127, SOL is vulnerable below the $123 support. A confirmed Death Cross could push it to $100, but if realized losses stabilize and sentiment improves, SOL could bounce from $123 toward $136 and potentially $157, invalidating the bearish scenario.
(Source：BeInCrypto)