SOL risks $100 as bearish flag formation opens up

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 receiving great traction for its better scalability and usability.

As of this writing, the Solana price is trading at $156, showing a 600% price surge over the past year. As investors target higher gains on Solana, the prospects don’t quite compare to ETFSwap, which could rally 35,000% in the coming months.

ETFSwap set to surpass Solana in the coming weeks

As ETFSwap receives increased attention from other crypto communities, experts believe that its native token, ETFS, could surpass the Solana price predictions to $1,000. The new coin is poised for a massive rally, considering its undervalued price to allow discount entry to presale investors.

ETFSwap is a new blockchain-based platform for trading and investing in tokenized ETFs. The new platform capitalizes on the blockchain to enable decentralized trading of ETF tokenized assets, broadening the utility of ETF assets compared to trading on traditional markets. The new platform is able to integrate the blockchain with ETFs because it partners with MiCa-compliant investment banks that trade cryptocurrencies and securities.

Additionally, ETFSwap will certify that the tokenized assets are backed by real-world securities purchased from traditional markets. This guarantees that the assets retain their real-world value and can be traded, owned, and managed in new ways not possible in traditional markets. 

Moreover, the new ETF trading platform is launching amid positive market narratives for ETFs and real-world assets. With Spot Bitcoin and Ether ETFs being major drivers of market momentum, the growing inflows of funds continue to fuel the presale rally on ETFSwap. Several investors are buying in for the prospect of early involvement in the first ETF crypto solution.

ETFSwap has launched its beta platform on the Testnet, allowing for thorough UI testing and optimization ahead of launch. The beta platform offers a first look at features, which include staking, liquidity pools, an ETF price tracker, and many more. The team promises additional features like the AI-powered ETF Screener and Finder in the Phase 2 beta. The ETFSwap has also passed the KYC test by SolidProof.

Conclusion

ETFSwap has become the obvious choice for Solana investors hedging their bags and other crypto investors picking their major investment for the coming bull season. The new ETF token is poised for over 35,000% gains with the launch ahead, and investors can still get in on the final presale stage.

Join the ETFSwap presale now at $0.03846 per token before the window closes.

To learn more about ETFS presale, visit ETFSwap presale and join the ETFSwap community.