$SOL The SOL/ETH pair is updating local lows, with quotes breaking through the lower boundary of the 'Ascending Wedge' that has been forming for many weeks. This threatens further price declines, noted Cointelegraph analyst Yasha Gola.
Compared to the April peaks, SOL/ETH quotes have decreased by ~27%. The next target is 0.038, which is almost 40% lower than current levels, the expert emphasized. The 50-week EMA at 0.0628 serves as temporary support.
Solana's positions are weakening amid cooling interest in meme coins.
The Pump.fun platform recorded record commission fees in the first quarter of 2025, but revenues have sharply declined since April.
In a report, Standard Chartered experts warned: Solana risks falling behind Ethereum if it does not find new growth points.
Analysts believe that Ethereum, with its second-layer scaling solutions and more developed infrastructure, is benefiting from declining market participants' interest in speculation.
Investor Alex Clay added that the 'Ethereum dominance season' has already begun, and the technical picture confirms further weakening of SOL.