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Solana Ecosystem

SOLANA HUGE BREAKOUT !! SOL SOLANA PRICE PREDICTION

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Synopsis: Solana price right now is $ 102.45, with a 24-hour trading volume of $ 1.46B, market cap of $ 34.17B, and market dominance of 1.80%. The SOL price increased 1.99% in the last 24 hours.

Solana reached its highest price on Nov 6, 2021 when it was trading at its all-time high of $ 259.52. The lowest price since it’s ATH was $ 76.05, cycle low. The highest SOL price since the last cycle low, was $ 142.67, (cycle high). The Solana price prediction sentiment is currently bearish.

Solana’s current circulating supply is 333.57M SOL, out of max supply of 500.00M SOL. In terms of market cap, Solana is currently ranked 1 in the Proof-of-Stake sector and ranked 2, in the Solana Network sector. The price of Solana in the IEO was $ 0.22, and the token sale ended on Mar 24, 2020. Since then, SOL price increased 465.53x against US Dollar, increased 21.11x against Ethereum and increased 75.98x, against Bitcoin. Solana price in US Dollar has increased by 3.40%, in the last 1 month. SOL is up 7.02% against Ethereum and up 12.58%, against Bitcoin in the last 1 month.
According to our current Solana price prediction, the value of Solana will drop by -9.43% and reach $ 92.72 by April 28, 2022.
Solana, price has been on the back foot for two consecutive weeks. Although the earning season is rocking the boat quite a fair bit, SOL looks set to eke out gains for this week, where a weekly close above the 55-day, Simple Moving Average would be ideal. If investors can sit on their hands, SOL price could get pumped in a rally towards $146, holding 50% gains. Solana price saw its rally in March, being almost wholly paired back in the first weeks of April. Bulls are planning, however, not to let it come that far. Eagerly defending $90.23, the 55-day SMA at $100, is being used as an anchor point where buyers and sellers, are in a distribution phase, where bulls then get to sit on their hands and see price action ramp, up higher with bears desperate to sell and looking for the highest price, where finally some bulls are willing to sell.

SOL price thus is in a scenario that favours, the bulls in this technical play. Even jumping in now for that trade still makes sense, with a stop below $0.90, a trader only has to give up roughly $10, and when SOL price rallies towards $150, your trading book will have made 50$ return in a 1-to-5 risk-reward ratio, which is very lucrative. If the rally has much more legs beyond $150, it is doubtful that the death cross and the 200-day SMA, at $146, will put a drag on the rally for the short term.

Solana bulls could get entrenched on that $90.23, with bears further shorting massively the price action. That could result in a long squeeze with bulls being stopped out, sell-side volume exploding and creating a nose dive move towards $75.34, or even $61.44, depending on the volume. Luckily the Relative Strenght Index is already below 40, thus, not much room is offered for another downturn as by then, the RSI will be trading in ‘oversold.’

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One Comment

  1. Definitely here for that break out when it does happen. The dips have been extremely good for me and picking more SOL has also ensured I get more earnings from staking on Atomic Wallet. The next rally should be pretty great for those of us holding.

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