Solana’s Price Could Face Dangerous Drop Against Bitcoin

Recent data suggests that Solana (SOL) may be at risk of a significant price drop against Bitcoin in the coming weeks. Analysts are observing the emergence of a ‘death cross’ pattern on SOL/BTC chart, meaning the 23-day moving average is nearing the 200-day moving average. This technical indicator suggests a potential bearish trend for Solana. While recent factors like new Solana ETFs in Canada have boosted its price, this growth seems to be fading as the 23-day moving average starts to fall below the 200-day moving average. This could lead to Solana’s price falling back towards previous lows against Bitcoin, possibly even dropping by around 15% from current levels (around $133). This decline may test Solana’s support at a level of approximately 0.001 BTC per SOL, potentially translating into a price drop to as low as $83 in USD.