Is my PS3 getting ready to die?

[Euphoria14]

I can't find pictures to show what is going on so I will try my best to explain.

I first noticed this when playing Resident Evil 5 but thought nothing of it because it was only in one stage. While viewing things in a specific direction I would have this solid line going all the way across my screen, blocking my view. No matter what I did it would always be there. It went through everything whether it be walls, zombies, etc...

Then I was playing Nier and I would see a similar line, only not as huge protruding from Kaine's head. Later on I saw the same thing coming out of my main characters head.

Right now I am playing Castlevania : Lords of Shadow and during the first big boss battle at the Oblivion Lake Gabriel had this same line protruding from his head.

 

It gets rather annoying and only goes away if I turn off the PS3 and turn it back on, but it eventually works its way back.

 

 

If this a sign of worse things to come? Should I wait and get it repaired or should I sell my 60GB PS3 while it still has value and grab a slim? 

I don't want to lose my saved data though.