Solana Trader: Hits Stop-Loss at $94.45

Crypto trader known as 'Pigeon' executed a stop-loss on SOL at approximately $94.45, citing BTC's failure to hold above $80,000 as the key risk factor forcing strict position management. In a Telegram update, he plans a brief rest period after the exit, following his earlier bullish call where SOL's chart appeared cleanest versus ETH and HYPE, with a potential 25% upside to $120 if it stabilizes at $96—contingent on BTC avoiding a drop below $80K. This move underscores ongoing SOL price prediction volatility tied to BTC SOL correlation, especially after recent dips in the broader crypto market analysis over the last six months.

On the 4-hour chart, SOL trades at $90.97 in a clear bearish structure, pressing against the lower Bollinger Band support at $90.23 while the MACD confirms a death cross with a bearish reading of -0.33, signaling sustained downside momentum. Confluence builds as price sits below the EMA50 at $92.11, acting as immediate resistance, with the EMA200 at $87.52 looming as a deeper long-term floor if selling accelerates—yet the neutral RSI at 39.95 hints at no extreme oversold conditions, leaving room for a volatility-driven bounce toward the upper band at $99.08 should BTC stabilize, much like the choppy action we've seen in correlated assets like HYPE this quarter.