Crypto Trader Sounds Alarm on Solana’s Market Reversal
A widely watched crypto analyst, known for his trading insights on Bybit, is raising concerns about Solana’s price trajectory.
The pseudonymous trader, Bluntz, believes SOL is showing signs of a market downturn similar to the one that preceded its 2021 collapse.
Bluntz points to a bearish divergence forming on Solana’s two-week chart—a pattern traders monitor closely as it often signals weakening momentum despite stable or rising prices.
According to him, SOL slipping below $220 would be a troubling development, invalidating a previous bullish pattern and reinforcing the bearish divergence.
READ MORE:
Terra Luna Classic Sees Another 736M LUNC Burned by BinanceHe warns that unless a major shift occurs, Solana’s outlook could turn decisively negative.
Reflecting on past market behavior, he notes that the last time this signal appeared was in late 2021, right before SOL plummeted from around $260 to a cycle low of $8.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Core Scientific Nets $580M in Q1 Despite Revenue Miss, Eyes AI and HPC Future
Nasdaq-listed Bitcoin miner Core Scientific Inc. has reported a net income of $580 million for the first quarter of 2025, more than double the $210 million recorded during the same period last year. However, the firm fell short of analyst expectations for revenue, signalling the growing impact of industry shifts and operational transformation.
Federal Reserve’s Tight Policy Affects Bitcoin Growth
[Initial Listing] Bitget Will List Doodles (DOOD). Come and grab a share of 7,250,000 DOOD !
SEC Settles Lawsuit with Ripple and Executives
Trending news
MoreCrypto prices
More
