A closely followed analyst who is known as a ‘master dealer’ on the Crypto Exchange Bybit, warns that Solana (SOL) has printed a market dominance signal similar to what was observed during the 2021 cycle.
Pseudonym analyst Bluntz tells his 314,900 followers on the social media platform X that Solana flashes a bearish divergence on the two -week graph.
Traders keep a close eye on Beerarish Divergencies, especially at the higher period of time, because it suggests that an active loses in strength, although his price rises or goes sideways.
Says Bluntz,
“Losing Sol $ 220 is really bad in my opinion.
The ABC of the highlights and makes it look more impulsive and looks as if there is a bearish-divigence with two weeks of divergence in 24 hours, and it needs an absolute miracle to save that.
In my opinion it is over. ”
In his latest SOL analysis, Bluntz notes that Solana printed the same Bearish divergence signal on the two-week graph at the end of 2021, just before Sol collapsed from a peak of approximately $ 260 to a low of $ 8.
“It has printed.
The last time we saw one, drum roll … 2021. ”
At the time of writing, Sol acts for $ 196.71, a decrease of more than 7% in the last 24 hours.
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Generated image: dalle3