Solana (SOL) is approaching a critical technical turn because it approaches the formation of the “Cross of Death”, a pattern that often indicates a potential declining momentum.
The death cross occurs when the simple moving average decreased for 50 days (SMA) for the market price of assets to less than 200 days SMA. Currently, the 50 -day SMA SOA SMA SMA SMA has turned at $ 188.71, indicating a possible intersection with SMA for 200 days at $ 184.03 in the coming days.
The affectionate intersection indicates that the short -term momentum, represented by SMA for 50 days, suffers from a lack of long -term medium performance.
This development is important, especially when the feeling of exposure is already, as in the cryptocurrency market.
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The prices of the cryptocurrency extended its slide on Monday, as the decrease in the greater discounts in the field of federal reserves led to sales in the market. Risk origins such as encryption under pressure. American stocks also declined, as investors have resorted.
The next possible scenarios
Solana is on the right track to celebrate on her fifth consecutive day of decline since March 6, reaching $ 120.35 in Monday session, which is the lowest level since September 2024. At the time of this report, Sol decreased by 5.11 % in the past, 9.11 % in the past 24 hours to 121.12 dollars and 23.10 % per week.
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The last time Solana saw a cross of death in September 2024, which witnessed its price confirming a bottom before it started to rise. In the two months after that, Seoul reached 264 dollars after a previous golden cross was published.
Another possibility is that the formation of the death cross may cause a lower Seoul. The main support levels include 109 dollars and $ 88. If Solana is able to retain critical support levels, it may attract buyers who are looking for value, which leads to a recovery of prices.
On the other hand, if the Sol price has confirmed the bottom, it may be a little bit before its next main movement.
