The popular alternative cryptocurrency Solana (SOL), which has emerged as one of the hottest assets on the market in recent months, may be on the verge of a painful downtrend against its main counterpart, Bitcoin.

Currently, Solana is valued at 0.00158 BTC, which is equivalent to approximately $133.16. However, just at the beginning of last week, this figure was 23% lower, after Solana lost 54% since January in a steady decline against Bitcoin.

Popular cryptocurrency Solana (SOL) may be entering a period of weakness against main counterpart Bitcoin (BTC), at least according to the possibility suggested by intersecting moving averages.

Solana is currently trading at 0.00158 BTC, equal to about $133.16. However, this level is still a 23% pullback from the beginning of last week as Solana continues to lose ground at a 54% year-to-date decline against Bitcoin.

While SOL has shown strength recently with the launch of the first Solana ETFs in Canada and institutional tailwinds helping the altcoin outperform the rest of the crypto market, according to major exchange executive Tracy Jin, this period of prosperity may be coming to an end.

As the 23-week moving average begins to drop toward the 200-week moving average, the possibility of a death cross in the coming weeks is also on the horizon.

Considering the time frame, the emergence of this pattern may break the uptrend of Solana against Bitcoin for a while. For Solana, the result may be a test of previous lows against the major cryptocurrency at 0.001 BTC per SOL.

In dollar terms, this could mean a drop in Solana's price to as low as $83.

A retracement to lower support zones also seems likely for the altcoin in Jin's forecast. All in all, even if Solana survives the turbulence, its performance against Bitcoin makes it a less preferable asset to hold right now.