Bottom ahead? Solana paints its first ‘death cross’ as SOL losses 50% in January By Cointelegraph



Solana (SOL) looks poised to paint its first “death cross” this week, raising fears that its ongoing selloff would continue further into February.

Notably, the SOL price’s 50-day exponential moving average (50-day EMA; the red wave) will eventually close below its 200-day EMA (the blue wave), signaling a bearish crossover, called a death cross, that typically prompts traders to sell.

daily price chart featuring its 50-200 EMA death cross. Source: TradingView
SOL/USD daily price chart featuring its interim support targets. Source: TradingView
daily price chart featuring recent death crosses. Source: TradingView
S&P 500 daily price chart featuring recent death crosses. Source: TradingView
SOL/USD daily price chart featuring rebound scenarios. Source: TradingView