Solana (SOL) has recently declined by 25% against Ethereum (ETH), falling from a peak of 295 USD to around 220 USD. This drop highlights the ongoing volatility and market dynamics between these two platforms, with the SOL/ETH ratio indicating crucial performance shifts.
Current analysis shows the SOL/ETH ratio facing rejection at historically significant levels, with potential support identified at the 50-day EMA. Should this support hold, it may signify a rebound opportunity for SOL against ETH in the upcoming days.
Despite its price challenges, Solana earned higher monthly revenue than Ethereum for the first time, generating 119 million USD compared to Ethereum’s 107.6 million USD. This underscores Solana’s potential resilience in the market and its continued relevance.