{"id":125009,"date":"2025-03-13T16:16:23","date_gmt":"2025-03-13T16:16:23","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125009"},"modified":"2025-03-13T16:16:23","modified_gmt":"2025-03-13T16:16:23","slug":"solana-price-bottom-below-100-death-cross-hints-at-30-drop","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125009","title":{"rendered":"Solana price bottom below $100? Death cross hints at 30% drop"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSolana (SOL) price completed a \u201cdeath cross\u201d on the one-day chart on March 12, as the altcoin consolidated near its long-term support level at $125.<br \/>\nThis could potentially accelerate the SOL price sell-off in the near term for a drop below $100 for the first time since February 2024.<br \/>\nSolana\u2019s 1-day chart. Source: Cointelegraph\/TradingViewA death cross occurs when a bearish crossover occurs between the 50-day and 200-day simple moving averages (SMAs), with the long-term indicator above the short-term indicator.<br \/>\nLast month, the 50-day and 200-day exponential moving averages (EMAs) triggered a death cross on Solana\u2019s one-day chart, after which prices dropped 17%, from $137 to $122.<br \/>\nWhile the SMA and EMA death crosses carry similar implications, the EMA triggers the death cross faster since it responds more quickly to price changes. A double death cross from the SMA and EMA will likely increase the possibility of a correction.<br \/>\nHistorically, the odds are neutral for Solana. Since its inception, SOL\u2019s price has witnessed a death cross three times (including 2025) when prices have been on a 90-day or higher downtrend.<br \/>\nThe first death cross in 2022 triggered a 90% collapse, but the FTX\u2019s fiasco escalated its severity. The second death cross occurred in September 2024, but it reversed within a month, leading to the Trump rally.<br \/>\nRelated: 3 reasons why Ethereum can outperform its rivals after crashing to 17-month lows<br \/>\nYet, the current structure and sentiment mirror the 2022 death cross when we compare market conditions. On both occasions, a new all-time high preceded the downtrend, which led to the death cross.<br \/>\nAs Cointelegraph reported, Solana\u2019s revenue dropped 93% since January, dropping from $238 million to $32 million. This indicates a current lack of activity on Solana\u2019s network after the end of the memecoin frenzy.<br \/>\nCan Solana traders defend $125?<br \/>\nBased on its technicals, Solana remains in a tricky spot when comparing previous death cross returns and collective market sentiment.<br \/>\nSolana must hold support between $125 and $110 for a bullish reversal. Since March 2024, SOL prices have rebounded six times after testing the support range, closing above $125 on each weekly retest.<br \/>\nSolana 1-week chart. Source: Cointelegraph\/TradingViewA weekly close below $125 will signal market weakness, potentially increasing the likelihood of a drop below $100. The immediate price target after $110 is around $80 for Solana, which is a significant 30% correction. The downtrend target carries confluence with the weekly 0.5 Fibonacci retracement line.<br \/>\nSolana bullish divergences on the 1-day and 4-hour chart. Source: Cointelegraph\/TradingViewHowever, the bulls will pin their hopes on a bullish divergence between the price and relative strength index (RSI) on the 1-day and 4-hour charts.<br \/>\nIf Solana manages to avoid another lower low, the divergences will remain valid, which can push prices higher above $125, enabling Solana to avoid a drop below $100 and possibly establish a bottom at $112.<br \/>\nRelated: Will Bitcoin price reclaim $95K before the end of March?<br \/>\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/solana-price-bottom-below-100-death-cross-30-drop?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSolana (SOL) price completed a \u201cdeath cross\u201d on the one-day chart on March 12, as the altcoin consolidated near its long-term support level at $125. This could potentially&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125009"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125009"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125009\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125009"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}