A carefully adopted analyst often called a “Grasp Dealer” on the crypto alternate 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 a detailed watch on bearish divergences, particularly on the upper timeframe because it means that an asset is dropping momentum regardless that its worth is rising or going sideways.
Says Bluntz,
“SOL dropping $220 is admittedly unhealthy 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.”
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.”
At time of writing, SOL is buying and selling for $196.71, down over 7% within the final 24 hours.
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