This is a daily technical analysis of the Coindesk analyst and technician of the approved market Omkar Godbole.
The programmable Solana blockchain is about to return its rival and direct the Ethereum intelligent contract blockchain in terms of market capitalization, several observers have said in recent months.
However, for the moment, according to the technical analysis of the native token ether from Ethereum, it seems to have an upper on solana soil soil.
The Sol / ETH ratio threw an ascending sloping trend line connecting the stockings in September 2023, June 2024 and December 2024, according to the data source tradingView. In other words, the paintings made the favor of ETH and the token could surpass a short -term soil.
In addition, the MacD histogram of the weekly graph prints red, indicating a reinforcement of the momentum.
Immediate support is observed at 0.055 (February 25 low). The pair must withdraw above the Ichimoku cloud to cancel the Bearish soil perspective.
XRP loses the upward trend
Another piece showing a change in market trend is XRP, the cryptocurrency designed for cross-border payments.
XRP threw a bullish upward channel, marking the recovery of early April nearly $ 1.6.
Ventilation exposed support at $ 2, which acted several times at the start of this year. If buyers fail to defend this, a deeper slide at $ 1.60 could be seen.
On the upper side, the recent summit of $ 2.65 is the level to beat for the Bulls.
