Solana, known for its programmable blockchain capabilities, is losing ground in its competition with Ethereum. Recent technical analysis shows that the SOL/ETH ratio has fallen out of an upward trendline that previously connected lows from September 2023, June 2024, and December 2024. As a result, Ethereum's native token, ether (ETH), currently standing at approximately $2,499.90, appears to have regained an advantage over Solana (SOL), valued at around $152.20.
The bearish shift is reflected in the MACD histogram on the weekly chart, which indicates increasing downward momentum for Solana. Immediate support for the SOL/ETH pair is at 0.055, the low recorded on February 25. Observers note that for a more favorable outlook for Solana, it must regain ground above the Ichimoku cloud indicator.
In another example of shifting trends, XRP has also exited a bullish channel after a recovery from early April lows near $1.60. This breakdown puts support at the $2 mark at risk, a critical level it has relied upon in recent months. If buyers cannot maintain support at this level, XRP could decline to $1.60, while a higher resistance lies at $2.65, which bulls will need to surpass for a stronger recovery.
The bearish shift is reflected in the MACD histogram on the weekly chart, which indicates increasing downward momentum for Solana. Immediate support for the SOL/ETH pair is at 0.055, the low recorded on February 25. Observers note that for a more favorable outlook for Solana, it must regain ground above the Ichimoku cloud indicator.
In another example of shifting trends, XRP has also exited a bullish channel after a recovery from early April lows near $1.60. This breakdown puts support at the $2 mark at risk, a critical level it has relied upon in recent months. If buyers cannot maintain support at this level, XRP could decline to $1.60, while a higher resistance lies at $2.65, which bulls will need to surpass for a stronger recovery.
