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Solana drops below $90, new altcoin emerges as alternative

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Crypto prices are down with traders anticipating further volatility this week. One project that’s trending lower is Solana. It is down 11.4% in the past seven days, dropping to $86.95. However, analysts are bullish on Bitcoin Minetrix as its presale surges past $7.8 million.

Crypto volatility to rise as ETF approval deadline looms

Concerns of mass volatility have taken their toll on Solana’s price, with it recently touching its lowest in three weeks.

Currently, Solana is trading at $90.8, down 4.9% today. It has also suffered a 29% decrease from its local top of $124.

Experts are concerned of even more downside potential, likely induced by immense volatility as the market reacts to upcoming Bitcoin ETF news.

Trader Kaz The Shadow recently posted a broader market overview, warning investors that “volatility will be very high” this week.

He concluded, “If you are not experienced in the market with these bounces, wicks and scam moves and don’t know how to manage your risk then you shouldn’t trade or just lower your size.”

Meanwhile, other analysts are expecting Solana to retrace deeper before a potential next leg up.

One of those is Jelle, anticipating SOL “could dip as deep as $70 and it’d be a perfect bull-market retest.”

This analysis implies that there will be an uptrend continuation once Solana retests $70.

Meanwhile, Pentoshi holds a similar outlook, predicting Solana will sell off to $70 before bouncing and continuing to climb.

The analyst explained in a recent tweet “not sure we get as low as I have here, but do expect at some point to be able to bid in the $70’s.”

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