Date: 2025-05-29
Key takeaways: SOL/ETH has broken below a rising wedge pattern, signaling a potential 40% decline.Solana’s memecoin revenue has collapsed since April, weakening its core value proposition.Standard Chartered warns Solana may underperform as Ethereum’s L2 ecosystem grows more competitive.Solana’s (SOL) multiyear outperformance against Ethereum’s native token, Ether (ETH), is losing momentum, with technical breakdowns and weakening onchain activity pointing to a potential sharp decline in the SOL/ETH pair next.SOL enters rising wedge breakdown stageAs of May 29, the SOL/ETH pair has confirmed a breakdown from its multimonth rising wedge pattern, a bearish structure that often precedes significant declines.In technical terms, a rising wedge bre...
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