Is Solana Really About to Die Below $100? The Death Cross Saga Continues!

Well, folks, it looks like Solana (SOL) is playing a game of “will it or won’t it” with the $100 mark. On March 12, it completed a delightful little “death cross” on its one-day chart. For those of you not familiar, this is when the 50-day moving average and the 200-day moving average throw a tantrum, crossing each other like an emotional breakup. 🥲

Right now, Solana is chilling near its long-term support level at $125. But here’s the fun part: this could trigger a sell-off that might see SOL drop below $100. Yes, you read that correctly, below $100. The last time it did that, well, it was February 2024, and we were all just trying to figure out what the heck was going on with the crypto market anyway. 🤷‍♂️

Now, before you start crying into your coffee, let’s explain what a “death cross” actually means. It happens when the 50-day simple moving average (SMA) and the 200-day SMA cross paths in a bearish dance. The long-term SMA is above the short-term one, and it’s like a sign from the universe that says, “Hey, maybe don’t invest right now?” 🙃

Oh, and if you missed last month’s drama, the 50-day and 200-day exponential moving averages (EMAs) had their own little death cross moment, causing Solana’s price to drop a cool 17%, from $137 to $122. Nothing like a good, old-fashioned panic, right? 🏃‍♂️💨

Now, while the SMA and EMA death crosses are basically twins with different haircuts, the EMA one gets all the action faster because it reacts more quickly to price changes. When both of these crosses come together? Well, that’s when things get REALLY spicy. A “double death cross,” if you will. 🔥

Historically speaking, the odds are kind of “meh” for Solana. It’s been through three death crosses in its short life (2025 included). The first one in 2022 saw a 90% collapse, but hey, that was also the year FTX went full-on dumpster fire, so it’s hard to count that one. The second cross happened in September 2024, but it reversed within a month, thanks to some random rally we like to call the “Trump bump.” Go figure. 🦸‍♂️

But what’s really interesting is how this current moment feels *exactly* like the 2022 death cross. Both times, we had an all-time high before the inevitable drop. So, if history repeats itself, Solana could be headed for another dive. Get your popcorn ready. 🍿

According to CryptoMoon (because why wouldn’t you trust a source with that name?), Solana’s revenue has dropped by a staggering 93% since January, plummeting from $238 million to a mere $32 million. Which, in the world of crypto, is like going from Beyoncé to a garage band. 🎸😬

So, Can Solana Hold $125? Or is it Goodbye, Solana?

Looking at the technicals, things are looking a bit…complicated. Solana’s stuck in that awkward “will it, won’t it” phase with its previous death cross history and the current market vibes. If SOL wants to avoid an epic plunge, it has to hold strong at that $125-$110 range. Otherwise, well, it’s time to panic. 🏃‍♀️💨

Since March 2024, SOL has managed to bounce back *six times* after testing the support at $125. So there’s still hope! But one thing is clear: a weekly close below $125 could mean disaster. The next stop? $80. Yes, $80. We’re talking about a 30% correction that’s so big it might need its own zip code. 🚨

And here’s the kicker: The bulls are clinging to the hope that the price and the relative strength index (RSI) are in the middle of a “bullish divergence.” Basically, they’re saying, “Maybe if we squint hard enough, we’ll see the price rise.” If Solana avoids falling to new lows, this “divergence” could give it the boost it needs to stay above $125. Could it be true? Or are we all just being overly optimistic? 🤞

In any case, let’s hope for the best, because if Solana can’t defend $125, it might just establish a new bottom at $112. Fingers crossed, folks. 🤞🤞

2025-03-13 19:18

So, Can Solana Hold $125? Or is it Goodbye, Solana?

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