Soluna Holdings: Bollinger Bands Narrowing, KDJ Death Cross, Bearish Marubozu Signal

Soluna Holdings's 15-minute chart has exhibited a narrowing of Bollinger Bands, a death cross in the KDJ indicator, and a bearish marubozu at 10/09/2025 10:30. This suggests that the magnitude of stock price fluctuations is decreasing, momentum is shifting towards the downside, and there is a potential for further decreases. Sellers are currently in control of the market, and bearish momentum is likely to continue.

Soluna Holdings Inc. (NASDAQ: SLNH) has made significant strides in its renewable-powered data center projects, securing strategic settlements and funding, which has driven a 16.67% increase in its stock price Soluna Unlocks Massive Growth With Strategic Settlements And Funding^[1]. The company announced the near completion of its 48-megawatt Project Dorothy 2 in Texas and the groundbreaking of its 166-megawatt Project Kati facility. Additionally, Soluna secured a $100 million credit facility from Generate Capital and resolved a legal matter with NYDIG, removing key operational hurdles.

Soluna's CEO, John Belizaire, stated that these updates position the company for accelerated growth in the Bitcoin mining and AI computing markets. The company has regained compliance with Nasdaq’s listing requirements, restoring its full trading status and boosting investor confidence Soluna Holdings Regains Nasdaq Compliance^[2]. The $100 million scalable credit line from Generate Capital will fund construction and refinancing, including an initial $12.6 million draw in September to support key data center projects.

Project Dorothy 2 is set to expand Soluna’s hosting capacity and push its total hash rate above four exahashes per second. Meanwhile, Project Kati, a 166-megawatt wind-powered facility in Willacy County, is under active construction, with civil work and substation upgrades already underway. Additionally, Soluna signed a 20-megawatt hosting deal with Canaan Inc. (NASDAQ: CAN) to deploy Avalon A15 XP Bitcoin miners at Project Dorothy.

However, despite these advancements, Soluna's stock has shown bearish indicators. The 15-minute chart of SLNH exhibits a narrowing of Bollinger Bands, a death cross in the KDJ indicator, and a bearish marubozu at 10/09/2025 10:30, suggesting that the magnitude of stock price fluctuations is decreasing, momentum is shifting towards the downside, and there is a potential for further decreases .

Investors should be cautious, as sellers are currently in control of the market, and bearish momentum is likely to continue. Technical indicators suggest overbought conditions, which could lead to a price correction. The negative P/E ratio and lack of dividend yield further highlight valuation concerns.