Concerns Rise as Solana (SOL) Approaches Potential Death Cross against Bitcoin (BTC)

Solana (SOL) has recently found itself in challenging waters, facing a notable decline in its price against Bitcoin (BTC). Analysts and traders are closely monitoring the SOL/BTC price chart for indications of a possible “death cross” formation, a technical pattern that typically signals further declines. This situation has emerged amidst a backdrop of Solana’s ongoing struggle to maintain momentum against Bitcoin, raising critical questions regarding its capacity for recovery or continued underperformance.

In the past several months, Solana has seen a significant downward trend when measured against Bitcoin. As of mid-April 2025, the price of Solana stood at approximately 0.00154 BTC, marking a decrease of 22% earlier during the month. This decline follows a more substantial 53% drop since the start of the year, illustrating a concerning pattern of diminishing value relative to Bitcoin.

This recent downturn in Solana’s price has sparked worries among market participants. Technical indicators, particularly moving averages, are signaling potential further declines. The narrowing between the 22-day moving average and the 200-day moving average is particularly notable. A cross below the 200-day average will confirm the formation of a death cross, prompting fears of even deeper price retracements for Solana against Bitcoin’s performance.

Despite these bearish indicators, Solana has shown some resilience, notably attributed to the recent launch of Solana ETFs in Canada, which has increased institutional interest in the altcoin. During this burst of enthusiasm, Solana outperformed many of its counterparts, securing a 10.5% weekly return, whereas Bitcoin only managed a 2% gain during the same timeframe. However, this initial surge appears to have moderated, raising skepticism among some analysts who question whether this uptick was merely a short-lived reaction or an early indication of a genuine trend reversal.

From a technical standpoint, Solana appears to be forming a “Falling Wedge” pattern against Bitcoin—an indicator that may suggest consolidation before a potential breakout. This pattern often precedes upward price movements when the cryptocurrency breaks past the upper trend line. However, the ongoing decline in moving averages raises concerns that Solana may test lower support levels, especially given the recent performance of its SOL/ETH ratio, which recorded its highest weekly close.

The price is currently nearing the apex of this wedge, indicating that a breakout may soon be imminent. Should Solana manage to breach resistance at around 0.00182 BTC, it could create momentum for a bullish rally that might allow it to recover back toward levels of 0.0019 BTC. Conversely, failing to maintain support at approximately 0.00138 BTC could trigger a more pronounced downturn.

In the upcoming weeks, Solana’s price trajectory against Bitcoin will be crucial to observe. The looming possibility of a death cross combined with established support and resistance levels suggest that Solana could encounter further challenges. Should current trends persist, it’s conceivable that the altcoin may plummet to as low as 0.00098 BTC, which equates to a valuation of under $95.

As market dynamics continue to play out, traders and investors will be keenly interested to see if Solana can re-establish itself within a competitive cryptocurrency landscape. The interplay between Solana and Bitcoin serves as a litmus test for the altcoin’s resilience and adaptability as it navigates this unpredictable market. Investors must remain vigilant, scrutinizing technical indicators and market sentiment for signs of recovery or the potential for further declines.

The forthcoming weeks may serve as a pivotal point for Solana, determining whether it can reclaim ground against Bitcoin or continue its current trajectory of decline. Analysts will be monitoring key price levels closely as market participants adjust strategies amid the evolving landscape of digital currencies.