Solana (SOL) Price Prediction 2022 – Will SOL Hit $50 Soon?
Bullish SOL price prediction for 2022 is $15.36 to $48.74.
The SOL price will also reach $50 soon.
Bearish SOL price prediction for 2022 is $10.94.
In Solana (SOL) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about SOL to analyze the future movement of the cryptocurrency.
Solana (SOL) Current Market Status
According to CoinGecko, the price of Solana (SOL) is $14 with a 24-hour trading volume of $373,345,643 at the time of writing. However, SOL has increased to 6.5% in the last 24 hours.
Moreover, Solana (SOL) has a circulating supply of 366,414,472 SOL. Currently, SOL trades in cryptocurrency exchanges such as Binance, Coinbase Exchange, FTX, KuCoin and Gate.io.
What is Solana (SOL)?
The crypto coin, Solana (SOL), runs on an independent and scalable blockchain with faster transaction rates. The blockchain’s functionality is based on a hybrid consensus model that combines proof-of-stake (PoS) and proof-of-history (PoH). This hybrid model enables Solana to validate its blocks faster with accurate time stamps. Solana (SOL) was launched in March 2020.
Solana Network aims to expand its functionalities by hosting several DApps in the DeFi and also revolutionize the NFT marketplace. Solana-based NFTs are gaining positive momentum and are more likely to be preferred over Ethereum NFTs.
Solana (SOL) Price Prediction 2022
Solana (SOL) holds the 17th position on CoinGecko right now. SOL price prediction 2022 is explained below with a daily time frame.
The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs and the lower trendline that connects the rising lows. If the trend breaks out at the resistance level, the price will continue to move up in this ascending triangle pattern.
Currently, Solana (SOL) is at $14. If the pattern continues, the price of SOL might reach the resistance level of $14.75, and $18.95. If the trend reverses, then the price of SOL may fall to $12.83, & $11.04.
Solana (SOL) Support and Resistance Levels
The chart below shows the support and resistance levels of Solana (SOL).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Solana (SOL).
Resistance Level 1$15.36Resistance Level 2$25.44Resistance Level 3$48.71Support Level 1$10.94SOL Resitance & Support Level
The charts show that SOL has performed a bullish trend over the past month. If this trend continues, SOL might run along with the bulls overtaking its resistance level at $48.71.
Accordingly, if the investors turn against the crypto, the price of the SOL might plummet to almost $10.94, a bearish signal.
Solana (SOL) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Solana (SOL) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of SOL lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of Solana (SOL) is shown in the above chart. Notably, the SOL price lies below 50 MA (short-term), so it is completely in an downtrend trend. Currently, SOL is in a bearish state. There is a possibility of a reversal trend of SOL at any time.
Meanwhile, the relative strength index (RSI) of the SOL is at a level of 37.94. This means that SOL is nearly an oversold state. However, this gives confidence to the traders to trade without any fear.
Solana (SOL) Price Prediction 2022 — ADX, RVI
Let us now look Average Directional Index (ADX) of Solana (SOL). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Solana (SOL). Currently, SOL lies in the range of 33.64, indicating a strong trend.
From the above chart, the Relative Volatility Index (RVI) of Solana (SOL). RVI measures the constant deviation of price changes over a period of time. The RVI of SOL lies below 50, indicating high volatility. In fact, SOL’s RSI is at 37.94, thus confirming a potential sell signal.
Comparison of SOL with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Solana (SOL).
From the above chart, we can interpret ETH, BTC, and SOL are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and SOL also increase or decrease respectively.
Solana (SOL) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Solana (SOL) might probably attain $60 by 2023.
Solana (SOL) Price Prediction 2024
With several upgrades in the network, Solana (SOL) might enter a bullish trajectory. If the coin grabs the attention of major investors, SOL might rally to hit $70 by 2024.
Solana (SOL) Price Prediction 2025
If Solana (SOL) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, SOL will rally to hit $80.
Solana (SOL) Price Prediction 2026
If Solana (SOL) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, SOL would rally to hit $90.
Solana (SOL) Price Prediction 2027
If Solana (SOL) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, SOL would rally to hit $100.
Solana (SOL) Price Prediction 2028
If Solana (SOL) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, SOL would hit $110.
Solana (SOL) Price Prediction 2029
If investors flock in and continue to place their bets on Solana (SOL), it would witness major spikes. SOL might hit $120 by 2029.
Solana (SOL) Price Prediction 2030
With greater advancements in the Solana ecosystem, the crypto community might continue to invest in Solana (SOL) for the next 8 years and drive significant price rallies for the token. Hence, Solana (SOL) might hit $130 by 2030.
Conclusion
With continuous improvements in the Solana network, we can say that 2022 is a good year for SOL. For this reason, the bullish price prediction of Solana (SOL) in 2022 is $58.60. On the other hand, the bearish price prediction of Solana (SOL) for 2022 is $10.94.
Furthermore, with the advancements and upgrades in the Solana ecosystem, the performance of Solana (SOL) might hit $50 gaining investors’ attention. It would also rise above its all-time high (ATH) of $259.96 in the near future.
FAQ
1. What is Solana (SOL)?
Solana (SOL) is the native crypto coin of Solana. Solana runs on a scalable blockchain that runs with a hybrid consensus model that integrates proof-of-stake (PoS) and proof-of-history (PoH). SOL was launched in March 2020.
2. Where can you purchase Solana (SOL)?
Solana (SOL) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, FTX, KuCoin and Gate.io.
3. Will Solana (SOL) reach a new ATH soon?
With the ongoing developments and upgrades within the Solana platform, Solana (SOL) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Solana (SOL)?
On November 06, 2021, SOL reached its new all-time high (ATH) of $259.96.
5. Is Solana (SOL) a good investment in 2022?
Solana (SOL) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Solana in the past few months, SOL is considered a good investment in 2022.
6. Can Solana (SOL) reach $50?
Solana (SOL) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues, Solana (SOL) will hit $50 soon.
7. What will be Solana (SOL) price by 2023?
Solana (SOL) price is expected to reach $70 by 2023.
8. What will be Solana (SOL) price by 2024?
Solana (SOL) price is expected to reach $by 70 2024.
9. What will be Solana (SOL) price by 2025?
Solana (SOL) price is expected to reach $80 by 2025.
10. What will be Solana (SOL) price by 2026?
Solana (SOL) price is expected to reach $90 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Filed under: Bitcoin - @ December 13, 2022 9:45 pm