Analysis

‘It’s Over’ – Trader Issues Dire Solana Warning, Says SOL Flashing Same Bearish Signal As 2021 Meltdown

A carefully adopted analyst referred to as a “Grasp Dealer” on the crypto trade Bybit is warning that Solana (SOL) has printed a market reversal sign much like what was witnessed throughout the 2021 cycle.

Pseudonymous analyst Bluntz tells his 314,900 followers on the social media platform X that Solana is flashing a bearish divergence on the two-week chart.

Merchants maintain an in depth watch on bearish divergences, particularly on the upper time-frame because it means that an asset is shedding momentum despite the fact that its value is rising or going sideways.

Says Bluntz,

“SOL shedding $220 is actually dangerous for my part.

Invalidates the ABC from the highs and makes it look extra impulsive and appears like there’s a two-week bearish divergence printing in 24 hours, and it’ll want an absolute miracle to avoid wasting that.

It’s over for my part.” 

Image
Supply: Bluntz/X

In his newest SOL evaluation, Bluntz notes that Solana printed the identical bearish divergence sign on the two-week chart in late 2021, simply earlier than SOL collapsed from a excessive of about $260 to a bear market low of $8.

“It printed.

The final time we noticed one was, drum roll….. 2021.” 

Image
Supply: Bluntz/X

At time of writing, SOL is buying and selling for $196.71, down over 7% within the final 24 hours.

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