Solana dey face technical breakdown against Ethereum: SOL/ETH ratio dey show 40% decline potential for amid L2 competition
Technical analysis show say how Solana (SOL) dey perform pass Ethereum (ETH) for long don comot, as SOL/ETH trading pair don break below one important upward trendline plus one critical rising wedge pattern wey don hold since September 2023. Dis breakdown na strong bearish signal, e mean say SOL fit underperform ETH by up to 40% for short to medium term. The main tins wey dey push dis expectation na the fading memecoin activity for Solana blockchain, ongoing network stability wahala, and gbedu wey dey increase from Ethereum Layer-2 solutions like Arbitrum and Optimism. Big financial institutions like Standard Chartered don talk say Ethereum L2 ecosystem wey dey grow dey make ETH more attractive compared to SOL. Technical indicators like MACD dey show say downward momentum dey increase, immediate support for SOL/ETH pair dey for 0.055, and any bullish comeback go depend on price regain Ichimoku cloud. Even though small price recovery fit happen, these technical and fundamental tins fit press SOL performance. Crypto traders dem advised make dem dey monitor key support levels, manage exposure between SOL and ETH, plus stay sharp for ecosystem updates, cause ETH dey likely to show better resilience for short to medium term.
Bearish
Di news dem wey combine from both summaries dey show say SOL/ETH trading pair don get serious technical breakdown, e start wen dem break long time trendline plus one critical rising wedge pattern. Together with weak Solana network feeling, memecoin activities wey dey reduce, and increase competition from Ethereum's Layer-2 projects, market momentum don shift clear for Ethereum side. Immediate technical supports dey under threat, plus big institutions like Standard Chartered dey also forecast say Solana no go perform well. For short to medium term, these developments fit put heavy downward pressure for SOL/ETH ratio, wey mean bearish outlook for SOL against ETH. Despite say short-term rebounds fit happen, both technical and fundamental signals join body to paint negative picture for SOL traders compared to ETH.