Technical indicators suggest that Solana’s price may drop to $100, yet investors remain optimistic about a potential rise to $1,000, actively participating in the ETFSwap presale.

Technical analysis suggests that the Solana price could be facing short-term bearish pressure. With the short-term risk of crashing to $100, investors remain optimistic about a Solana price surge to $1,000. However, attention is shifting to ETFSwap (ETFS) ahead of a massive bullish rally on the new coin. Solana (SOL) investors hope to hedge their holdings with ETFSwap as the new coin is set to surpass other market altcoins in the coming month.

Can Solana rise to $1,000 despite bearish technical indicators?

The recent Solana price movement has looked promising as the market is pushing toward healthier trends. However, market experts believe SOL risks a price drop to $100 as a bearish flag formation opens up. A bearish flag is a chart pattern characterized by two declines separated by a consolidating retracement period. This is a popular technical indicator of bearish price movements, and experts fear the Solana price could dip in the coming weeks.

Veteran trader Peter Brandt also supported this stance in an X post, where he claimed that Solana could dip to $80. Knowing this, SOL investors wonder if $1,000 is still possible for the altcoin even after a dip to $100. Interestingly, several analysts agree that a Solana rally to $1,000 is a matter of when, not if.

Solana has been one of the best-performing altcoins in the past year, rivaling Ethereum for better market growth in the coming bull market. Experts expect the Solana price to grow massively in the bull market as the network is re

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Author: Guest Post