Solana in 2022: Will Solana go up to its all-time high price again?

Solana in 2022: Will Solana go up to its all-time high price again?
5 1 vote
Article Rating

The average predicted price of Solana for the 2022 end is $128. Therefore, a question for Solana in 202 arises “Will Solana Go Up to Its All-Time High?”

Solana came into existence as a public base-layer blockchain that had the main goal of facilitating the entire building process of decentralized apps and smart contract hosting in an environment that was censorship-resistant. In this article, we will look at some of the predictions for the price of Solana to estimate whether it will be able to achieve the all-time high value again. The all-time high value of Solana was on 11th June 2021, and the value was about $259.04. Unfortunately, however, Solana has not recovered the all-time high again. It still has a pretty good report of operations making Solana a good investment opportunity, but still, some predictions will make the whole thing clear.

Solana was the first blockchain project using PoH or Proof of History as the proper consensus mechanism. It is currently capable of processing about 50,000 transactions every single minute. Scalability, low costs of transactions, and the processing speed of the transactions are some of the advantages of the space.

Will Solana Go Up Its All-Time High: Is Solana a good investment in 2022?

The price prediction for Solana in 2022 is a medium-term outlook. According to the weekly chart, there has been a bounce on the 79.37% support that coincides with the end of certain measured moves from the head & shoulders pattern.

This particular immediate resistance comes in properly at the 116.40 mark achieved on 20th September. The barrier, along with the 129.87 resistance, is expected to portray as limiting barriers to provide any further recovery for Solana in the medium term. The recovery towards reaching a particular price target between 170 dollars and 203 dollars depends on the ability of the people to efficiently uncap the currently occurring barriers.

Will Solana Go Up
SOL 2022 YTD CHART

The entire cryptocurrency market has also managed to suffer a crash on 20th February 2022. But the price that Solana portrays today shows that it has managed to recover some proper ground from that crash. The price slump has taken out the entire support at about 97.04. Any attempts made to recover the price at this level have not worked or managed to yield any positive results as there was a rejection taking place on the candle of 21st February.

Those who want to reacquire the tokens of Solana would have to do so through immediate support, and the value for that is about 79.37. There is still some possibility that the drop might go further below the range of 79.37 in case of bearish action is involved, and it managed to overwhelm Solana Support.

Will Solana Go Up Its All-Time High: Is Solana a good investment for 2025?

Will Solana Go Up again depends on some factors. By studying the monthly chart for Solana, one can understand the long-term journey for this particular cryptocurrency. According to the chart, the Solana trend remains in a bullish zone. The downside that was seen between November and January 2022 was actually a proper correction that took place within the uptrend for the long term. Therefore, it can be said that the price prediction for Solana in 2025 remains bullish indicating it that Solana is a good investment.

This is because the network has different important metrics that seem to be growing and in the right direction. The recovery displayed this week when other cryptocurrencies remain in a lagging situation is a testament to the fact. If the bulls manage to force Solana’s price above the all-time high, then the door for the Solana price prediction will open and go for about 334.57 or even 438.77 by 2025.

Is Solana a good investment: Will Solana Go Up to Its All-Time High?

Solana hit its all-time high of $260.60 on November 6, 2021. Since then Solana has failed to maintain its momentum and is down by around 60% since it ATH. Solana to hit its ATH again needs to be backed by huge trading volume and the network.

Solana network has suffered a lot in the last few months, and every time there has been an issue with the network, the SOL price has crashed. Will Solana Go up again? To answer, looking at the current momentum and increasing regulatory action by countries around the world, it is very much unlikely for Solana will go up again to ATH soon.

Author: Ananya Mukherjee

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions

This site uses Akismet to reduce spam. Learn how your comment data is processed.

1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback

[…] Read: Solana in 2022: Will Solana Rise to Its All-Time High? […]

1
0
Would love your thoughts, please comment.x
()
x