Source: Cointelegraph.com NewsKey takeaways: <\/p>\n
SOL\/ETH has broken below a rising wedge pattern, signaling a potential 40% decline.
\nSolana\u2019s memecoin revenue has collapsed since April, weakening its core value proposition.
\nStandard Chartered warns Solana may underperform as Ethereum\u2019s L2 ecosystem grows more competitive.<\/p>\n
Solana\u2019s (SOL) multiyear outperformance against Ethereum\u2019s native token, Ether (ETH), is losing momentum, with technical breakdowns and weakening onchain activity pointing to a potential sharp decline in the SOL\/ETH pair next. Source: Cointelegraph.com NewsKey takeaways: SOL\/ETH has broken below a rising wedge pattern, signaling a potential 40% decline. Solana\u2019s memecoin revenue has collapsed since April, weakening its core value proposition. Standard… <\/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\/130219"}],"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=130219"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130219\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130219"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nSOL enters rising wedge breakdown stage
\nAs of May 29, the SOL\/ETH pair has confirmed a breakdown from its multimonth rising wedge pattern, a bearish structure that often precedes significant declines.
\nIn technical terms, a rising wedge breakdown typically results in a drop equal to the pattern\u2019s maximum height.
\nSOL\/ETH weekly price chart. Source: TradingViewFor SOL\/ETH, this projects a downside target for July, near 0.038 ETH, representing a 40% decline from current levels.
\nThe 50-week exponential moving average (50-week EMA; the red wave) around 0.0628 ETH is offering interim support. A decisive weekly close below this level would likely confirm the bearish continuation toward the 0.038 ETH target.
\nA bounce, on the other hand, could have SOL reclaim the wedge\u2019s lower trendline as support, which may delay the breakdown scenario. Breaking above the wedge\u2019s upper trendline will likely invalidate the 40% crash setup altogether.
\nCooling memecoin frenzy hints at SOL\/ETH crash
\nThe breakdown in SOL\/ETH aligns with a visible decline in memecoin-driven activity on Solana.
\nA key indicator is Pump.fun, the largest memecoin launch platform on the network, which shows a sharp drop in daily fee revenue since early April.
\nDaily fees peaked in Q1 2025 but have since fallen to near-yearly lows, signaling reduced speculative activity on the chain, according to Dune Analytics.
\nPump.Fun fee and revenue chart. Source: Dune AnalyticsThe platform had been a major contributor to Solana’s revenue growth, especially between December 2024 and March 2025.
\nDuring this period, total cumulative fees surged past 3 million SOL as retail traders flooded the network to launch and trade meme tokens. These metrics have crashed ever since, weakening one of Solana’s primary value drivers.
\nA May 27 report from Standard Chartered further reinforces the downside narrative. The bank warned that Solana may underperform if it cannot diversify beyond memecoins, which currently dominate its transaction activity.
\nSolana’s decentralized exchange volume. Source: Standard CharteredStandard Chartered said that Ethereum is gaining ground with scalable layer-2 solutions that offer comparable fees and deeper infrastructure for real-world applications.
\nRelated: Ethereum flashes \u2018altseason\u2019 signal as ETH price eyes $4.1K
\nChartist Alex Clay asserts that a so-called \u201cEthereum outperformance season\u201d has already arrived, reiterating confidence in the rising wedge breakdown on the SOL\/ETH charts.
\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.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"