SOL/BTC Price Plummets 23% in April: Is a Death Cross Forming?

Solana, the high-performance blockchain platform known for its scalability, is under scrutiny. The technical analysts warn of a potential death cross on the SOL/BTC price chart. After weeks of underperformance compared to Bitcoin, Solana has triggered bearish signals that point to a weakening trend. 

Despite short-term gains driven by developments like the launch of the Solana ETF in Canada, the community is watching closely as key chart patterns unfold. With traders rushing between optimism and caution, the next move could shape Solana’s relative strength in the crypto market.

Bearish Crossover on the Horizon for Solana

The SOL/BTC chart shows a death crossing trend, where the Solana price has dropped roughly 23% so far in April 2025. On a broader timeline since January, Solana has lost over 50% of its value when measured against Bitcoin. The weekly chart shows a key technical warning that the 23-day moving average is drawing closer to the 200-day moving average. If this crossover happens, it could confirm a death cross, a bearish pattern that often signals deeper declines.

Chart 1 – SOL/USD 7-day price chart, published on TradingView, April 19, 2025. 

Historically, such patterns have indicated sustained downturns, especially in altcoins facing macroeconomic pressure and competitive networks. Although Solana ETF products have stirred some institutional adoption, they haven’t been enough to reverse the trend. The anticipation of this crossover on the weekly chart has led many traders to shift to a risk-off stance.

Will Solana Break Out From Its Wedge?

Despite the concerning movement on the weekly chart, the daily SOL/BTC chart is slightly more optimistic. At the current SOL price near 0.00158 BTC, the token is approaching the apex of the wedge. It is suggesting a breakout could be possible.

Chart 2 – SOL/USD 1-day price chart, published on TradingView, April 19, 2025. 

If the resistance near 0.0018 BTC is broken, Solana may recover towards 0.001895 BTC in the short term. But failure to hold its support level at 0.0014 BTC could push the Solana price down further, possibly nearing 0.001 BTC. 

Meanwhile, Solana ETF listings have temporarily lifted optimism. Within one week of its announcement, Solana outperformed Bitcoin with a 10.5% gain compared to BTC’s 1.8%. Still, the gains appear to be short-lived, as broader price movements have settled back.

Key Levels Could Reshape SOL’s Future Path

The SOL/BTC price trend is approaching a defining moment. If the death cross is confirmed on the weekly chart, it would likely extend the altcoin’s bearish momentum. That would put Solana at risk of breaking down further unless new catalysts emerge.

Solana continues to build, pushing forward with network upgrades and scalability improvements. However, without a clear reversal in the SOL/BTC chart, investors may face headwinds in attracting new attention. The real challenge will be sustaining growth and hype beyond short-term ETF-driven gains.

In the coming weeks, all are watching whether Solana can defend its current support or if the SOL/BTC price slides closer to the dreaded 0.001 BTC mark. This would mark a significant shift for a project.

Bottom Line: Can Solana Bounce Back From Here?

The prediction of the SOL/BTC price in the short term depends on how Solana reacts to key support and resistance levels. While patterns like the falling wedge suggest a possible bullish breakout, the emerging death cross on the weekly chart paints a cautious outlook. 

With the Solana ETF offerings tapering off, the Solana price is showing limited strength. The next breakout or breakdown will determine whether the altcoin can rebound or face a deeper correction.