Solana price could fall 40% to $80, says analyst

Solana could bleed down to an $80 price point as institutional ETFs and meme coin trading slow.

Crypto expert Andrew Kang, co-founder of a crypto-focused venture capital company, suggested in a recent post that market shifts in ETF integration could slow down Solana’s (SOL) bullish sentiment. 

Kang believes that Solana (SOL) has shown strong performance recently but could be affected by the unpredictable demand from meme traders. If meme trading decreases in the future, the price of SOL could fall hard to the $80 level.

Kang also mentioned that despite the potential impact of meme traders, the underlying technology and long-term potential of Solana could support its price in the future.

ETF integration

Kang contended that the delayed integration of ETFs into wealth management platforms could significantly impact the cryptocurrency market. Most of the expected influx of ETF money is now projected to come in quarter four or toward the end of the year.  

In the absence of substantial ETF inflows, the momentum in the cryptocurrency market could be reversing from upward to downward. However, Kang believes that Bitcoin (BTC) will maintain its strength, with prices unlikely to fall below the $50,000 mark. 

Ethereum’s expectations 

Ethereum (ETH) might sustain its value until the ETF approval, but its upside is projected to be limited to the low $4,000s this year, per Kang.  If there isn’t sufficient inflow and the numbers fall short, or if there is substantial selling of ETH, ETH could decline to the low to mid $2,000 range. 

The Ethereum community is often seen as having strong advocacy and understanding, which may lead to high expectations for the impact of ETFs among investors who are not familiar with crypto. However, insights from traditional finance experts indicate relatively low interest in Ethereum ETFs.