Solana (SOL) price completed a &#8220;death cross&#8221; on the one-day chart on March 12, 
as the altcoin consolidated near its long-term support level at $125.
This could potentially accelerate the SOL price sell-off in the near term for 
a drop below $100 for the first time since February 2024.
_Solana &#8216;s 1-day chart. Source: Cointelegraph/TradingView_
A 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.
Last month, the 50-day and 200-day exponential moving averages (EMAs) 
triggered a death cross on Solana&#8217;s one-day chart, after which prices dropped 
17%, from $137 to $122.
While 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.
Historically, the odds are neutral for Solana. Since its inception, SOL&#8217;s 
price has witnessed a death cross three times (including 2025) when prices 
have been on a 90-day or higher downtrend.
The first death cross in 2022 triggered a 90% collapse, but the FTX&#8217;s fiasco 
escalated its severity. The second death cross occurred in September 2024, but 
it reversed within a month, leading to the Trump rally.
_**Related: 3 reasons why Ethereum can outperform its rivals after crashing to 
17-month lows**_
Yet, 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.
As Cointelegraph reported, Solana&#8217;s revenue dropped 93% since January, 
dropping from $238 million to $32 million. This indicates a current lack of 
activity on Solana&#8217;s network after the end of the memecoin frenzy.
## Can Solana traders defend $125?
Based on its technicals, Solana remains in a tricky spot when comparing 
previous death cross returns and collective market sentiment.
Solana 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.
_Solana 1-week chart. Source: Cointelegraph/TradingView_
A 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.
_Solana bullish divergences on the 1-day and 4-hour chart. Source: 
Cointelegraph/TradingView_
However, 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.
If 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.
_**Related: Will Bitcoin price reclaim $95K before the end of March?**_
This 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.

Solana price bottom below $100? Death cross hints at 30% drop

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Ethereum (ETH) is facing significant selling pressure, trading below the 
$1,900 mark as market uncertainty continues to weigh on price action. After 
losing the critical $2,000 level, ETH plunged as low as $1,750, marking its 
lowest point since October 2023. Bulls are now under pressure, as they must 
defend the current demand zone to prevent further downside and restore 
investor confidence. Related Reading: Bitcoin Lost And Retested The 200-Day MA 
As Resistance – Here’s What Happened Last Time Market conditions remain 
fragile, with Ethereum struggling to find strong buying interest. If bulls 
fail to hold current support levels, ETH could see further declines, adding to 
the bearish sentiment that has dominated the market in recent weeks. On-chain 
data from CryptoQuant reveals that Ethereum’s Net Taker Volume remains at a 
low level, indicating that selling pressure is still strong. This suggests 
that market participants are leaning bearish, with more sell orders than buy 
orders dominating Ethereum’s price action. With ETH trading in a vulnerable 
position, the next few days will be crucial. If bulls can stabilize the price 
and push ETH back above $1,900, a potential recovery could begin. However, if 
selling pressure persists, Ethereum may continue its downward trend, testing 
lower support levels in the coming weeks. Ethereum Faces Heavy Selling 
Pressure Ethereum has lost over 57% of its value, creating an extremely 
difficult environment for bulls as the market remains in a deep downtrend. 
Currently, ETH is trading below a multi-year support level, which has now 
turned into a strong resistance zone. As ETH struggles to break back above the 
$1,900–$2,000 range, the bearish trend continues, with bulls failing to regain 
momentum. Related Reading: New ONDO Addresses Surge 390% In 24 Hours – A Sign 
Of Growing Interest In Ondo Finance The entire crypto market has suffered a 
breakdown, mirroring weakness in the U.S. stock market, as global trade war 
fears and growing uncertainty surrounding U.S. President Trump’s policies 
shake investor confidence. Since the U.S. elections in November 2024, 
macroeconomic volatility and uncertainty have been the dominant forces in 
driving markets lower. With no clear resolution in sight, investors remain 
cautious, as the U.S. stock market has now reached its lowest levels since 
September 2024. Top analyst Quinten Francois shared data on X, revealing that 
Ethereum’s Net Taker Volume is at historic lows, signaling intense selling 
pressure. This indicates that sellers continue to dominate the market, 
preventing ETH from staging any meaningful recovery. Until buyers step in with 
strong demand, ETH may remain stuck in a bearish phase, with further downside 
risk if key support levels fail. With Ethereum struggling below critical 
resistance and selling pressure increasing, the next few weeks will be pivotal 
in determining whether ETH can stabilize or if the market will see further 
losses. If bulls cannot reclaim lost ground, Ethereum could face even deeper 
corrections in the near term. ETH Stuck In Range As Bulls Fight to Reclaim 
$2,000 Ethereum is currently trading at $1,880, remaining range-bound between 
$1,750 and $1,950 since last Monday. This tight trading range has kept ETH in 
a consolidation phase, with neither bulls nor bears gaining full control over 
price action. For Ethereum to start a recovery rally, bulls must push the 
price back above $2,000 as soon as possible. A break and close above this 
psychological level would indicate renewed buying momentum, allowing ETH to 
potentially test higher resistance levels. However, Ethereum remains in a 
fragile position, as selling pressure continues to weigh on the market. If ETH 
fails to hold its current levels and breaks below $1,750, it could result in a 
steady continuation of the downtrend, with further downside risks emerging. 
Bears would likely target lower support zones, extending the bearish phase and 
delaying any chance of a sustained recovery. Related Reading: Bitcoin Drops 
Below 200-Day MA – Next Key Support Lies At $66K According To Mayer Multiple 
With uncertainty still dominating the market, traders are closely watching 
whether Ethereum can break out of this range or if it will extend its decline, 
following the broader market’s risk-off sentiment. The next few trading 
sessions will be critical for ETH’s short-term direction. Featured image from 
Dall-E, chart from TradingView

Ethereum Net Taker Volume Signals Huge Selling Pressure – Can Bulls Hold Key Levels?

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