SOL/BTC chart shows the 0.07 level has repeatedly marked exhaustion zones across multiple market cycles, suggesting reliable trend signals.
Analyst Joao Wedson exited Solana in March 2024 after identifying a fractal pattern similar to the historical ETH/BTC cycle top.
Wedson forecasts new altcoins will lead the next crypto rally, as legacy assets like SOL, ETH, and BNB approach the end of their cycle.
The SOL/BTC ratio has once again flagged a local market top, reinforcing a technical pattern that has held since early cycles. Traders and analysts are taking note, as this ratio continues to show precision timing in marking altcoin peaks.
Long-Term SOL/BTC Channel Shows Repeated Accuracy
Crypto analyst Joao Wedson recently pointed out a recurring channel in the SOL/BTC chart, specifically focusing on the 0.07 level. According to him, this zone has repeatedly marked exhaustion points in the Solana-to-Bitcoin valuation. This consistent rejection suggests a long-standing horizontal range that traders have respected over multiple market cycles.
https://twitter.com/joao_wedson/status/1924531533542461721
Wedson explained that he exited Solana back in March 2024. The move came after recognizing a fractal resembling the historical ETH/BTC chart—a signal he believed marked a turning point. From his analysis, Solana’s performance against Bitcoin started to show signs of weakening, prompting a more cautious approach to the altcoin.
Solana Cycle Resembling Past Altcoin Behavior
Wedson’s post also drew a comparison between Solana and Ethereum during earlier cycles. As he described, the ETH/BTC pair had followed a similar path of sharp rallies followed by eventual downturns. These patterns, when viewed through a historical lens, may indicate that Solana's current cycle is nearing its end against Bitcoin.
His forecast is that older giants like SOL, ETH, and BNB may not lead the next altcoin surge. Instead, new blockchain projects with fresh narratives could take center stage. This shift, he argued, follows the trend where most altcoins have short market lifespans—typically peaking within three to five years before fading from relevance.
Bitcoin’s Dominance Grows as Weak Projects Fade
Wedson noted a broader observation about altcoin market behavior. Many once-promising projects now show fewer than 500 daily onchain transactions. This drop-off, according to him, reflects a natural cycle where underperforming altcoins are phased out.
He suggested this process ultimately benefits Bitcoin, strengthening its position as other coins lose traction. The continued purge of weaker assets reinforces BTC’s dominance in the digital asset space, a trend that has been seen in previous bear market cycles.
As the SOL/BTC ratio continues to serve as a leading indicator for altcoin tops, traders may keep their eyes on emerging projects rather than returning to previous cycle leaders.
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