- Bullish SOL price prediction is $58.60 to $214.40.
- The SOL price will also reach $270 soon.
- SOL bearish price prediction for 2022 is $ 11.75.
In Solana (SOL) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about SOL to analyze the future movement of the cryptocurrency.
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 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.
This blockchain’s mainnet was doomed multiple times by frequent outages right from the 17-hour outage in late 2021.
Solana Current Market Status
According to CoinGecko, the price of SOL is $37.96 with a 24-hour trading volume of $2,004,735,758 at the time of writing. However, SOL has decreased by nearly 13.7% in the last 24 hours.
Moreover, SOL has a circulating supply of 340,435,037 SOL. Currently, SOL trades in cryptocurrency exchanges such as Binance, FTX, Coinbase, Huobi Global, KuCoin, Gate.io, Kraken, Bybit and OKX
Solana (SOL) Price Prediction 2022
Solana holds the 8th position on CoinGecko right now. SOL price prediction 2022 is explained below with a weekly time frame.
The SOL weekly chart shows the descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
Currently, SOL is in the range of $42.01. If the pattern continues, the price of SOL might reach the resistance level of $59.55, $140.70 & $250.60. If the trend reverses, then the price of SOL may fall to $36.00 & $21.50.
Solana (SOL) Support and Resistance Level
The below chart shows the support and resistance level of SOL.
From the above weekly time frame, we can clearly interpret the following as the resistance and support levels of SOL.
| Resistance Level 1 | $58.60 |
| Resistance Level 2 | $117.60 |
| Resistance Level 3 | $214.40 |
| Support Level 1 | $34.30 |
| Support Level 2 | $22.15 |
| Support Level 3 | $11.75 |
| Support Level 4 | $21.92 |
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 $214.40.
Accordingly, if the investors turn against the crypto, the price of the SOL might plummet to almost $11.75, a bearish signal.
Solana Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of SOL is shown in the chart below. 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 is below the cutoff line, it indicates weaker participants in the current trend.
Moreover, the SOL’s Moving Average (MA) is shown in the chart above. Currently, SOL is in a bearish state. Notably, the SOL price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of SOL at any time.
Meanwhile, the relative strength index (RSI) of the SOL is at the level of 39.34. This means that SOL is in an oversold state. However, this means a major price reversal of SOL may occur in the upcoming days. So, traders need to trade carefully.
Solana Price Prediction 2022 — ADX, RVI
Let us now look at Solana’s Average Directional Index (ADX). It helps to measure the overall strength of the current 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. Currently, SOL lies in the range of 46.08 so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of SOL can be interpreted. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of SOL lies above the 50 levels, indicating that the direction of volatility is high. In fact, SOL’s RSI is at the 39.34 level thus confirming a potential sell signal.
Comparison of SOL with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Solana.
From the above chart, we can identify the trend of the ETH, BTC, and SOL are moving in the same level. This indicates that when the price of BTC increases or decreases, the price of ETH and SOL also increases or decreases respectively.
Conclusion
With continuous improvements in the Solana ecosystem, we can say that 2022 is a good year for SOL. For this reason, the bullish price prediction of Solana in 2022 is $4.49. On the other hand, the bearish SOL price prediction for 2022 is $1.26.
Furthermore, with the advancements and upgrades to the SOL ecosystem, the performance of SOL would help to reach above its current all-time high (ATH) of $0.00008616 very soon. But, it might also reach $10 if the investors believe that SOL is a good investment in 2022.
FAQ
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 has been listed on many crypto exchanges such as Binance, FTX, Coinbase, Huobi Global, KuCoin, Gate.io, Kraken, Bybit, Bitfinex and OKX.
With the ongoing developments and upgrades within the SOL platform, it is highly likely to reach its ATH soon.
On November 06, 2021, SOL reached its new all-time high (ATH) of $259.96.
Solana (SOL) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of SOL in the past few months, SOL is considered a good investment in 2022.
Solana (SOL) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Solana (SOL) will hit $270 soon.
Solana (SOL) price is expected to reach $284 by 2023.
Solana (SOL) price is expected to reach $293 by 2024.
Solana (SOL) price is expected to reach $300 by 2025.
Solana (SOL) price is expected to reach $315 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Source: https://thenewscrypto.com/solana-sol-price-prediction