- Solana Price Prediction to consolidate between 217-178$ range
- SOL line of control still lies below 178$ zone, looking bearish for many investors
- Institutional investors slow down investment in Solana, causing the price to decline 15%
Currently, the price of Solana is consolidating around the trading range’s midpoint, which suggests it will follow the general trend and move lower. This move will ease the selling pressure and allow buyers to come back into the market.
Reports indicate that institutional investors have slowed down their investments in Solana over the last two weeks, according to CoinShares.
Also Read: South Korea welcomes crypto, while the US officials speak against it
Lets dip dive into technical analysis of SOL
Technical Analysis of SOL: Bearish sentiment in 4hour SOL/USDT Binance pair (platform using Tradingview.com)
According to Oscillators
SOL has a neutral sentiment when examined in 4hour chart [Pair SOL/USDT Binance] and moving average gives indicator about strong sell.
Technical Analysis : Solana Price Forecast using 4EMAs (10,20,50,200) and RSI (Relative Strength index)
Pivot, Resistance and Support Levels for Day Trading SOL USDT [SOL Price Forecast]
Calculation For Trading:
Resistance Level (R3): 223.78
Resistance Level (R2): 217.000
Resistance Level (R1): 210.253
Support Level (S1): 178.546
Support Level (S2): 171.799
Support Level (S3): 159.319
SOL Price Prediction: FAQs
|What will be the lowest price of Solana (SOL) in future?||Upto $903.95 USD|
|What will be the highest price of Solana (SOL) in future?||Upto $1,068.63 USD|
|Will Solana (SOL) price increase in future?||Yes, Solana (SOL) price will increase according to our predicted data in future.|
|Investment in Solana (SOL) is profitable or loss-making?||Yes, Solana (SOL) is profitable investment based on our forecasting.|
|Whether the price of Solana (SOL) will be downward in future?||No, Solana (SOL) price will not be downward based on our estimated prediction.|
|In 1 year from now what will 1 Solana be worth?||The price of 1 Solana (SOL) can roughly be upto $446.49 USD in 1 years time a 2X nearly from the current Solana price.|
|Where do I buy Solana?||There are many places to buy and exchange Solana we list them all here.|
|What will the Solana Price be tomorrow?||Our algorithm predicts that the Solana Price can be upto $216.96 USD by tomorrow.|
|What will be the price of Solana (SOL) after 1 year?||Upto $446.49 USD|
|What will be the price of Solana (SOL) after 2 years?||Upto $414.44 USD|
|What will be the price of Solana (SOL) after 3 years?||Upto $507.07 USD|
|What will be the price of Solana (SOL) after 4 years?||Upto $728.15 USD|
|What will be the price of Solana (SOL) after 5 years?||Upto $737.44 USD|
|What will be the price of Solana (SOL) after 6 years?||Upto $769.29 USD|
|What will be the price of Solana (SOL) after 7 years?||Upto $948.82 USD|
The Solana blockchain is considered an efficient, secure, fast, censorship-resistant, and highly automated system that supports global adoption. Decentralizing the network by providing computing resources to validate transactions or storing redundant ledge data is the mission of the validator.
Currently, Solana (SOL) price is $195.35 with a market capitalization of $59,299,808,868, putting it in a commendable position of the global cryptocurrency rankings.
History of Solana
Anatoly Yakovenko, the founder of Solana, published a whitepaper draft detailing a new timekeeping method for distributed systems dubbed Proof of History (PoH) in late 2017. The inability to reach consensus on transaction order is one of the limitations of bitcoin and ethereum blockchains, In Anatoly’s opinion, his new methodology could automate the transaction ordering process for blockchains. This was a major component of enabling crypto networks to grow beyond their capabilities at the time.