Solana Prints Its First Death Cross Versus Ethereum — What Could It Mean For SOL, ETH Price?

Key Points

• Solana has printed its first-ever death cross against Ethereum.
• Despite the bearish crossover, SOL/ETH is holding a key support that triggered 60–75% rallies in previous months.
• Bullish USD setups for both SOL and ETH suggest the pair may consolidate sideways rather than decisively favoring one asset.

Technical Analysis of SOL/ETH

Solana (SOL) has recently formed a "death cross" against Ethereum's native token, Ether (ETH), which is a significant bearish signal for the SOL/ETH trading pair. A death cross occurs when an asset's short-term moving average (the 50-day EMA) falls below its long-term 200-day EMA, indicating potential long-term weakness and often preceding extended downtrends.

Currently, SOL/ETH is testing a historically significant ascending trendline support near 0.057. This level has previously triggered major bullish reversals, including a 75% surge in December 2024 and a 60% rally in March 2025. If this trendline holds, SOL/ETH could recover towards its 50-day EMA (~0.0669) and potentially the 200-day EMA (~0.0671), marking a rebound of up to 10–12% from current levels.

Market Sentiment and Potential Developments

Adding to the bullish case is a visible bullish divergence between SOL/ETH’s relative strength index (RSI) and its price action, indicating building momentum. Furthermore, optimism surrounding a potential Solana ETF has increased interest in SOL as a long-term institutional asset. If approved, this could enhance Solana's credibility and attract capital away from ETH.

Future Outlook for SOL and ETH

While the SOL/ETH pair shows a bearish technical signal, both SOL and ETH are exhibiting bullish setups against the USD. Solana is forming a cup-and-handle pattern on the 3-day chart, with a breakout target near $267, suggesting a potential 60% upside from current levels around $165. Conversely, Ethereum is breaking out of a large inverse head-and-shoulders structure, which could push ETH prices towards $3,800, a roughly 50% gain from its current price near $2,767.

In summary, both assets appear poised for rallies against the US dollar, but the SOL/ETH pair may experience sideways consolidation in the short term, with neither asset significantly outperforming the other.