Analyst known on the crypto exchange bybit As a "Master Trader", he believes that kriptovalyuta Solana (SOL) has given a market reversal signal similar to what was seen in 2021.
He recommends watching for bearish divergences, especially on the extended time frame, as this suggests that the asset is losing momentum.
Losing SOL below $220 is a really bad thing in my opinion.
Negating ABC from the highs and making it more impulsive. Looks like there will be a two week bearish divergence within 24 hours and it will take an absolute miracle to save it.
In my opinion, it's all over, wrote another cryptanalyst, Blanz.
In his latest analysis of SOL, Blanz noted that at the end of 2021 Solana showed the same bearish divergence signal on the two-week chart, after which SOL crashed from a high of around $260 to a bear market low of $8.
SOL is currently trading at $194, down more than 24% in the last 9 hours.
However, as soon as Bitcoin will recover in price, and such a trend has already emerged, analysts' forecasts will become less frightening and even optimistic.
