Solana Price Prediction as Top Trader Says He Will Buy SOL 'Heavily This Year' At These Levels – Can SOL Reach $1,000?

cryptonews.com:

The Solana price has dipped by 0.5% in the past 24 hours, falling to $19.44 amid a 2.5% decline for the cryptocurrency market as a whole today.

SOL remains up by 4% in a week and by 16% in the last 14 days, with the altcoin having risen by an impressive 95% since the start of the year.

Such growth has been posted on the back of steady development and progress for Solana as a blockchain and ecosystem, with its network recently marking nine months of uptime, helping it to restore its reputation after its 2022 and 2021 was marred by a number of high-profile outages.

And given the steady expansion of its ecosystem, it remains probable that SOL will see further gains before 2024, particularly when high-profile traders such as Pentoshi have publicly declared they'll buy the altcoin "heavily" this year.

SOL's chart remains positive, even with today's little stumble, with the token's indicators still in positions where they could resume climbing.

Its 30-day moving average (yellow) continues to ascend further above its 200-day (blue), in a sign of continued buying momentum and potential rallies.

And even though SOL's relative strength index (purple) has declined from 70 in the past day, it remains above 50 and has levelled out, in a sign that today's drop may soon turn into growth.

The coin's support level (green) also reinforces the suspicion that today's dropoff isn't going to be especially prolonged, given that it has increased consistently since the middle of June.

As such, technicals point towards further rises for SOL in the near future, with the altcoin potentially in line to meet $20 again before the end of the weekend, before potentially hitting $25 in the next one or two weeks.

This optimism is supported by remarks by various