Solana's downtrend against Ethereum deepens, but indicators suggest that a reversal might not be far away.
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U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.in the last 24 hours, printing a large red daily candlestick as the SOL/ETH ratio fell 3.22% in this time frame.Based on the daily chart, Solana has been dropping against Ethereum since March 26, entering its sixth day of dropping, with today's losses still the largest. The SOL/ETH ratio continues to trade near a two-year low, reaching levels previously recorded in June 2024. The Solana Ethereum ratio fell to an intraday low of 0.0392. On Feb. 6, the ratio reached a low of 0.0386.Binance Delists XRP/TUSD Spot Pairing, Bitcoin's Biggest Quantum Critic Drops 85% Prediction, Ripple Joins Standard Chartered in $1.1 Billion Round: Morning Crypto Report Following the crash, the daily RSI has reached the oversold level of 30, but oversold conditions are yet to be confirmed, with analysts hinting at a further drop before a potential reversal.On the other hand, if oversold conditions are confirmed, Solana may reverse its downward trend against Ethereum, potentially targeting the 2026 high of 0.046.edged lower on Tuesday as investors reassessed the outlook for Federal Reserve interest rates. In the last 24 hours, $305 million in crypto positions were liquidated; longs came in at $188 million, while short liquidations totaled $117 million.Money markets are increasingly pricing in zero rate cuts from the Federal Reserve for the rest of the year, according to the CME’s FedWatch tool. Federal Reserve Chair Jerome Powell said on Monday that he sees inflation expectations as grounded, with the Central Bank not needing to respond with higher interest rates. At the time of writing, Solana was trading down 3.12% in the last 24 hours to $81.39 and down 9.48% weekly. Ethereum was up 0.33% in the last 24 hours to $2072, but down 3.31% weekly.
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