Solana (SOL) Price Prediction 2022 – Will SOL Hit $50 Soon?

Solana Price Prediction 2022 - Will SOL Hit $250 Soon?
  • Bullish SOL price prediction for 2022 is $37.62 to $58.60.
  • The SOL price will also reach $50 soon.
  • Bearish SOL price prediction for 2022 is $25.77.

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 $34.72 with a 24-hour trading volume of $1,073,708,137 at the time of writing. However, SOL has increased to 7.5% in the last 24 hours. 

Moreover, Solana (SOL) has a circulating supply of 354,782,491 SOL. Currently, SOL trades in cryptocurrency exchanges such as Binance, FTX, Coinbase, Huobi Global, KuCoin, Gate.io, Kraken, Bybit, and OKX.

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 9th position on CoinGecko right now. SOL price prediction 2022 is explained below with a daily time frame.

SOL /USDT Horizontal Channel Pattern (Source: Tradingview)

The above chart of Solana (SOL) laid out the horizontal channel pattern, also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it. 

A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.

Currently, Solana (SOL) is at $34.29. If the pattern continues, the price of SOL might reach the resistance level of $36.68, and $48.25. If the trend reverses, then the price of SOL may fall to $29.92, and $25.77.

Solana (SOL) Support and Resistance Levels

The chart below shows the support and resistance levels of Solana (SOL).

SOL /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Solana (SOL).

Resistance Level 1 $37.62
Resistance Level 2 $42.78
Resistance Level 3  $58.60
Support Level 1$29.92
Support Level 2  $25.77
SOL/USDT Support and Resistance Levels

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 $58.60.

Accordingly, if the investors turn against the crypto, the price of the SOL might plummet to almost $25.77, 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.

SOL /USDT RVOL, MA, RSI (Source: Tradingview)

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 a downward 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 53.30. This means that SOL is in neither in an oversold or overbought 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.

SOL /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of Solana (SOL). Currently, SOL lies in the range of 8.25, indicating a weak 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 above 50, indicating high volatility. In fact, SOL’s RSI is at 53.30, 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).

BTC Vs ETH Vs SOL  Price Comparison (Source: Tradingview)

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 $73 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 $91.  

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 $120. 

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 $135. 

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 $148.

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 $160 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 $175 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 $25.77.

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 runs on a scalable blockchain that runs with a hybrid consensus model that integrates proof-of-stake (PoS) and proof-of-history (PoH).

2. Where can you purchase Solana (SOL)?

SOL has been listed on many crypto exchanges such as Binance, FTX, Coinbase, Huobi Global, KuCoin, Gate.io, Kraken, Bybit, and OKX.

3. Will Solana (SOL) reach a new ATH soon?

With the ongoing developments and upgrades within the SOL platform, it is highly likely to reach 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 SOL 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 the Solana (SOL) price by 2023?

Solana (SOL) price is expected to reach $60 by 2023.

8. What will be the SOL price by 2024?

Solana (SOL) price is expected to reach $73 by 2024.

9. What will be the SOL price by 2025?

Solana (SOL) price is expected to reach $91 by 2025.

10. What will be the SOL price by 2026?

Solana (SOL) price is expected to reach $120 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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