Technical Breakdown in SOL/ETH Ratio Suggests Ether May Take the Lead Again
XRP Also Shows Signs of Trend Reversal
Solana’s multi-month rally against Ethereum appears to be losing steam, with technical indicators now pointing to a potential phase of ether (ETH) outperformance in the coming weeks.
The SOL/ETH trading pair has slipped below a long-standing ascending trendline that had underpinned Solana’s relative strength since late 2023. This trendline had been tested and respected in September 2023, June 2024, and December 2024, making the recent breakdown a significant technical event, according to TradingView chart data.
With ether trading at $2,656.05 and SOL at $170.20, the momentum appears to be shifting. The weekly MACD histogram has flipped into negative territory, reinforcing the growing downside pressure for SOL relative to ETH.
The immediate level to watch is the 0.055 support, which marks the February 25 low. A failure to hold this level may confirm further weakness. Conversely, a recovery above the Ichimoku cloud would be needed to rebuild the case for SOL’s relative strength.
XRP Bullish Structure Breaks Down
Ripple’s XRP has also lost its bullish footing, falling out of a rising channel that had defined its uptrend since the April lows near $1.60.
The breach below this channel places $2.00 as a key level of support—a price that has provided reliable downside protection earlier this year. A decisive move below that could open the door for a retest of the $1.60 area.
To restore bullish momentum, XRP would need to reclaim the recent swing high at $2.65. Until then, the technical outlook remains cautious.
