Solana (SOL) price has been facing a downtrend against Bitcoin (BTC), with concerns rising about a potential death cross formation on the SOL/BTC price chart. The altcoin has shown weak performance relative to Bitcoin, sparking discussions on its ability to recover from the current decline. With a decrease of 23% in mid-April 2025 and a significant 54% drop since January, Solana’s value has steadily declined against Bitcoin, raising concerns among traders and analysts.
The recent market movements have led to narrowing moving averages, signaling a potential death cross formation on the weekly chart. If the 23-day moving average crosses below the 200-day moving average, it could indicate a further decline in Solana’s price against Bitcoin. Despite recent strength attributed to the launch of Solana ETFs in Canada and institutional investors’ attention, the altcoin’s performance against Bitcoin remains a concern.
Analysts are now analyzing whether the recent strength in Solana was just temporary or the beginning of a trend reversal to $65. The technical perspective shows a “Falling wedge” chart pattern, typically seen during consolidation phases. The break above the upper trend line could signal a bullish move, but the declining moving averages suggest that Solana may continue to decline against Bitcoin and test lower support levels. The current price is at the apex of the wedge pattern, indicating a potential breakout soon.
The resistance level at around 0.0018BTC will be crucial in determining whether Solana can make a bullish run and potentially regain value or face further decline if it fails to hold support at 0.0014 BTC. The potential death cross and the support and resistance levels point towards a challenging future for Solana against Bitcoin. If the trend continues, the altcoin could drop as low as 0.001 BTC, which is below $100 when measured in dollar terms.
In conclusion, Solana’s performance against Bitcoin will be closely watched in the coming weeks as the potential death cross and technical patterns indicate a challenging road ahead for the altcoin. Traders and analysts will be monitoring key support and resistance levels to determine the future direction of Solana’s price against Bitcoin. Whether Solana can recover from the recent decline or continue to underperform against Bitcoin remains to be seen, but the current market trends suggest a cautious approach for investors.
