The post Solana Price Rally Weakens as SOL/ETH Crashes 25% appeared on BitcoinEthereumNews.com.
Solana (SOL) price is facing weakness as bearish headwinds persist in the crypto market. Moreover, SOL continues to underperform against Ethereum (ETH), with the SOL/ETH ratio plunging 25% in less than three weeks to its lowest level in nearly a month. Amid weakening bullish momentum, will Solana price crash to $130 or bounce higher? Solana Price Weakens as SOL/ETH Crashes The momentum around Solana price is growing weak amid a crash in the SOL/ETH ratio. As Coingape reported, Solana’s underperformance is driving Ethereum’s gains, with the latter recording a mild 1.3% drop in seven days, notably lower than SOL’s 11% drop. At press time, the SOL/ETH ratio stood at 0.0613 after shedding more than 25% of its value since May 8. At this level, the ratio was testing a multi-month support level that had previously determined whether the price continues with the upward trend or drops lower. SOL/ETH is losing this support level as bears tighten their grip on the market. The last time that the ratio breached this support, it crashed to $0.000055, a bottom level that it had formed in December 2024. Therefore, if the ongoing decline continues, SOL/ETH is likely to hit this bottom again. SOL/ETH: 1-day Chart The above outlook stems from increased capital inflows to Ethereum as interest towards Solana fades. Ethereum ETFs are soaring, and as institutions accumulate, they are absorbing the sell-side pressure being caused by the bearish crypto market outlook. This has seen Solana outperform many top altcoins, including Ethereum. Will SOL Drop to $130? Solana price is flashing more bearish signals on the daily timeframe, with technical indicators showing that bulls are no longer in control of the price action. In fact, SOL’s RSI is at the lowest level since April 8, an indication that the bearish momentum is at its…
