Solana Price Faces 50% Decline Risk Amid Bearish Trend Formation
- Solana rebounded to $200 after an October 10 crash but faces bearish indicators that may lead to further declines.
- An analyst suggests Solana's price confirms a larger bearish pattern, possibly leading to more significant drops.
- Bitcoin's struggles are contributing to potential Solana weaknesses, with predictions of a fall to $170 or even $104 if the bearish trend continues.
- Pending Solana ETF applications could alter the current narrative, potentially attracting institutional investment and boosting prices.
- The SEC is reviewing 11 Solana ETFs, which, if approved, could lead to increased liquidity and price surges similar to those seen with Bitcoin and Ethereum ETFs.
- The current Solana price remains above $200, though it risks falling below this level amid market volatility.
