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Solana(SOL)/USDT Price Prediction: SOL Price May Drive a 20% Breakdown!

Solana Technical Analysis

Key Takeaways:

Solana Price Prediction 2022: Will SOL Price Hit $1000 in 2022?

Solana’s price ignited its rally while most of the crypto assets were accumulating gains within a narrow region. The asset ranged high to smash the levels close to $250 and very soon fell prey to the bears. SOL price failed to maintain the $200 levels, $150 levels and also $100 and finally, is hovering around $80 after hitting price levels around $75. Currently, the asset is witnessing a minor rebound but it may be only a short-lived one. 

If the market stabilizes in an upcoming couple of days, a notable flip may be ignited which may uplift the price above $100 initially. Further undergoing a consolidated trend within narrow margins, the SOL price may even range high to hit the upper target around $130 to $150 by the end of Q1 2022. However, the asset may experience a pullback here and after withstanding the trembled situation, forming a new ATH may be the destination for the SOL price rally. 

Therefore, a new ATH somewhere around $500 to $550 appears to be quite possible but the SOL price may require more time to hit the $1000 milestone. As the bears tend to become active, they may challenge the uptrend now and then. 

Solana Price Prediction 2022: How High Will SOL Crypto Price Go in 2022?

Solana’s price at present is attempting very hard to prevent further plunging more towards the lower support. And hence awaits for the bulls to uplift the price towards the local resistance close to $100. As mentioned previously, the asset is facing extreme uncertainty due to some external factors and hence no major flip with the price may be experienced until the crisis-like situation materializes. Therefore, considering the crypto markets to stabilize in the next couple of hours, the price may rise high to hit $120 levels very soon

Further, the asset may require a certain time to accumulate strength to pull a massive leg up. Therefore on reaching $150 which is one of the important resistance levels, the asset may face an interim rejection. Yet after managing the trembled situation, SOL price may resume ranging towards the north and test the ATH in the second half of 2022. Finally to end the yearly trade the SOL price may form a new ATH just above the current one and yet again fall off from the cliff. 

Additional Read: Solana vs Polkadot

Solana Price Analysis: SOL Price Table (Last 30 Days) 

Date All-Time High All-Time Low Market Capitalization
23 February 2022 $ 93.40 $84.38 $28.72B
22 February 2022 $87.56 $81.06 $27.17B
21 February 2022 $96.14 $82.62 $28.28B
20 February 2022 $94.50 $85.56 $29.76B
19 February 2022 $92.75 $88.60 $29.11B
18 February 2022 $96.37 $89.31 $28.97B
17 February 2022 $102.82 $92.33 $30.41B
16 February 2022 $105.60 $98.27 $31.88B
15 February 2022 $105.77 $96.38 $32.67B
14 February 2022 $97.99 $90.72 $30.38B
13 February 2022 $97.36 $91.35 $29.23B
12 February 2022 $99.79 $92.80 $31.27B
11 February 2022 $108.14 $95.84 $33.56B
10 February 2022 $115.38 $105.68 $34.91B
09 February 2022 $117.08 $109.40 $36.15B
08 February 2022 $120.36 $109.66 $35.38B
07 February 2022 $121.93 $112.69 $38.37B
06 February 2022 $116.06 $111.09 $35.62B
05 February 2022 $118.6 $110.22 $36.04B
04 February 2022 $112.28 $100.28 $34.51B
03 February 2022 $103.13 $94 $30.80B
02 February 2022 $112.35 $96.99 $34.33B
01 February 2022 $113.66 $99.02 $35.15B
31 January 2022 $101.40 $86.08 $30.82B
30 January 2022 $97.60 $91.38 $29.76B
29 January 2022 $98.93 $90.50 $29.65B
28 January 2022 $93.55 $87.21 $28.55B
27 January 2022 $94.90 $85.17 $28.58B
26 January 2022 $104.43 $89.19 $30.64B
25 January 2022 $99.95 $87.41 $31.33B
24 January 2022 $99.83 $80.83 $27.56B
23 January 2022 $104.82 $93.25 $30.90B

Solana Price Prediction: SOL Price Trend Comparison with LUNA   (Last 30 Days)

Solana and Terra during the silent trend of the entire crypto space rallied like a monster to mark new highs every new day. Despite a minor plunge yet the assets quickly rebounded within small time frames and achieved new highs within 30 to 40 days. However, ever since the beginning of November 2021, both the assets are maintaining a decent downtrend which continues to test the support levels forming multiple lower highs and lows.

Source: Tradingview

As mentioned in the above chart both Solana And Terra maintain a considerable rally, swinging within almost the same ranges since the beginning of 2022. Yet Terra showcased a little strong rally compared to that of Solana by attempting strong flips now and then. However, the dips were always equal, yet the LUNA price recovered more quickly than SOL. 

In recent times, LUNA price yet again jumped in action to recover the loss at the earliest. And hence the asset was surging high from the past couple of days while the SOL price was chopping around horizontally. Currently, LUNA price is below the average level by 36.57% whereas SOL price is down by more than 54%. 

 Correlation of SOL/USDT and SOL/BTC (Last 30 Days)

Source: Tradingview

Bitcoin price since the beginning of 2022 maintained a considerable consolidated trend which included a couple of quick bounces too. Therefore the SOL/BTC price maintains a considerable uptrend. No doubt both SOL/USDT and SOL/BTC are swinging in a similar fashion maintaining almost the same trend., but the BTC pair has slightly higher strength than the USDT pair. 

Both the trading pairs had undergone a strong flip from the lower support but with the recent selling, the USDT pair has plunged considerably. Despite a notable buying volume induced into the platform, the price is maintaining a notable downtrend. And hence its 38.35% down from the average levels and the SOL/BTC is down by 27.55%. Until and unless the market trend flips to some extent, no notable change in the price direction may be ascertained. 

Solana Price Prediction 2022: Latest SOL coin News in February 2022

Solana Protocol Gets $3 Million Funding to Bridge DeFi Margin Trading

Solana ecosystem raised $3 million funding led by Multicoin Capital and Pantera Capital intending to build a Solana-based DeFi Margin Protocol. The aim behind the building of this protocol is to bring the institutional margin to the institutional partners and trading firms. 

Source: Solana Twitter

Solana’s NFT Marketplace Airdrops Tokens and Aims Launches DAO

One of the leading NFT platforms Magic Edens is set to send up to 30,000 NFTs to its existing users as the platform aims to launch its DAO in the future. 

Source: Magic Eden Twitter

Additional Read: NATO & Ukraine-Russia Crisis Impact on Crypto Investors

Where & How to Buy Solana SOL coin

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