Bottom ahead? Solana paints its first 'death cross' as SOL losses 50% in January
Recently, death crosses between the 50-day and 200-day exponential moving averages have acted as a reliable predictors of bottoms. Solana (SOL) looks poised to paint its first “death cross” this week, raising fears that its ongoing selloff would continue further into February.Real selloff threatNotably, the SOL price's 50-day exponential moving average (50-day EMA; the red wave) will eventually close below its 200-day EMA (the blue wave), signaling a bearish crossover, called a death cross, that typically prompts traders to sell.SOL/USD daily price chart featuring its 50-200 EMA death....
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Based on historical tendencies, $22,700 could now mark the next "generational bottom" for Bitcoin, new analysis says. Bitcoin (BTC) may fall more than 40% from last week's bottom, new data warns as one analyst confronts what he says is now a bear market.In a series of tweets on May 20, popular trader and analyst Rekt Capital argued that BTC/USD should dive to near $20,000 to conform to historical norms.Death cross BTC price target now $22,700Much debate has surrounded the so-called "death cross" constructions on the Bitcoin chart. These involve the declining 50-period moving average (50MA)....
Solana (SOL) has found itself under the shadow of a foreboding technical pattern known as the “Death Cross.” This ominous occurrence, defined by the 50-day moving average crossing below the 200-day moving average, has historically heralded significant price downturns. Investors are now eyeing the charts as SOL grapples with this pattern once again, raising questions about its future trajectory. For the uninitiated in the intricacies of technical analysis, the Death Cross is akin to a storm warning on the horizon. It emerges when a short-term moving average dives beneath a....
More bearish cues for SOL comes from a bull flag setup that's now breaking to the downside. A rebound move witnessed in the Solana (SOL) market this weekend exhausted midway as its price dropped below the $90 level from a high of $96 on Feb. 21. In doing so, SOL price technicals are now risking a classic bearish reversal setup.Solana price risks dropping to $60Dubbed head-and-shoulders (H&S), the technical pattern emerges when the price forms three peaks in a row atop a common support level (called a neckline). As it typically turns out, the pattern's middle peak, called a "head," comes....
There’s an ominous “Death Cross” maturing on the Bitcoin price chart, foretelling a grim outlook for the cryptocurrency soon. The benchmark cryptocurrency has tumbled aggressively after forming a record high near $41,986 (data from Coinbase) on Friday. At its recent low, it was trading at $30,100 but managed to instill hopes of a bullish revival […]
Bitcoin traders are sitting on their hands after spotting a death cross on the daily chart but could this be a buy signal for contrarian investors? Bitcoin’s (BTC) succession of sharp corrections from its all-time high at $64,900 has turned investor sentiment negative, at least for the short-term. While some analysts believe the bottom may have been hit, others are warning of a further fall due to the “Death Cross” pattern that, at the time of writing, is on the verge of completion. For new traders, the name death cross itself brings a lot of negativity and a feeling of impending doom.....