- Solana’s price prediction for 2021 to 2023 is up to $100.
- SOL bearish market price prediction for 2021 is $23.6.
This Solana (SOL) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SOL price analysis and prediction.
Solana (SOL) is one of the digital assets that took the crypto market by storm when it smashed the ATH price of $50. Specifically, this crypto has been seen to move aggressively since the early days of the year. In fact, SOL successfully nailed a whopping growth rate of over +8000% in the past 12 months. Yes, you heard it right, a huge increase rate of +8000%, not hundreds but thousands.
With this, we can really say that SOL has been doing its job well in developing its platform over the years. Regarding its network technology, Solana featured a fast, secure, and censorship-resistant blockchain providing an open infrastructure required for global adoption. Also, Solana is one of the most chosen crypto platforms in developing DeFi, Web3, and blockchain gaming that can process 50k transactions per second.
In this SOL price analysis and price prediction, we take a look at the performance of SOL if it will reach $100. But before that, let us learn more about what is Solana (SOL) and its current position in the crypto market.
What is Solana (SOL)
Solana is a cryptocurrency based on blockchain technology that Anatoly Yakovenko founded in 2017. It seeks to provide solutions to the traditional problems that the Bitcoin and Ethereum blockchain are facing in today’s time.
Furthermore, the Solana network uses proof of history consensus. This technology enables the network to create records that can be used to track and prove historical events.
The Solana network has its own native cryptocurrency: SOL token. As a result, the network uses this token as a reward to all its community members on the platform. For all the interested traders and investors, the token is available at exchanges such as Binance, VCC Exchange, and OKEx to name a few.
Regarding the Solana technology team, the crew is backed with professional experience from top organizations around the world. These organizations include Apple, Qualcomm, Intel, Google, Microsoft, Twitter, Dropbox, and more. With this, we can say that Solana is really competitive in creating groundbreaking technologies.
Solana (SOL) Market Position
Solana is one of the most talked-about digital assets in the crypto world lately. This is because of the extraordinary performance that the crypto has delivered in the past months of the year. For this reason, the crypto was able to maintain its position along with top cryptocurrencies in CoinGecko.
To be specific, the crypto has a market capitalization of over $14 billion with a 24-hour trading volume of almost $2 billion. Truly, this is a market position that could attract investors around the world.
Now that you already have an idea about what SOL cryptocurrency is, do you think SOL is a good investment this year? If you are already excited to know, come, and together let us check this SOL price analysis and price prediction article.
Solana Price Analysis 2021
So far, Solana has been doing a great job in defending itself against the bearish market. Furthermore, SOL is one of the cryptos that manages to boost its price while the other crypto bleeds in the bearish market today.
Do you think this aggressive performance of the crypto is enough to attract more potential investors around the world? Are you already interested to know? Therefore what are you waiting for? Join me and together, let us see the charts in this CoinQuora price analysis.
Based on the graph above, SOL managed to maintain its uptrend position this year despite the wild market volatility. Interestingly, the crypto was also able to record a growth rate of over +150% from April to May. Indeed, this is a bullish position favored by investors around the world.
Furthermore, as displayed in the chart, you can also see that the crypto keeps its spot above the Arnaud Legoux Moving Averages (ALMA). This is an indication that the bullish market is favoring this crypto. In this case, SOL might be able to use this chance to create another all-time-high. If it does, SOL may rally its token to another 30% – 50% price increase.
Conversely, if the crypto fails to defend its position against the bearish market, SOL might fall. In other words, SOL may slide down from its uptrend position and dive to almost -30%. This price decline could further escalate to -55% if the bearish market completely takes over the crypto.
Truly, this price level does not favor global investors.
In this event, SOL, together with the bulls must get back to its uptrend position as soon as possible. Otherwise, the raging bears will not waste any moment in flipping the support level to its new resistance level.
Meanwhile, the moving average convergence/divergence (MACD) of the crypto is now signaling for a possible bullish crossover. In other words, traders and investors can expect more bullish days ahead if the MACD continuously crosses the signal indicator.
However, if the MACD drops and points toward a downward direction, the bullish expectation for SOL could instantly disappear. As a result, traders must trade with caution to avoid any unexpected price drop. With this, traders can still protect themselves from any huge losses that cannot be reverted back.
Solana Price Prediction 2021
Solana is one of the favorite digital assets in the crypto market, simply because of its aggressive approach in the market lately.
Would this be enough to make Solana a profitable crypto in 2021 to 2022? Let us find out in this CoinQuora price prediction 2021 to 2022.
As seen in the chart above, SOL manages to break many psychological resistance in the past few months. As a result, the crypto was able to reach the bullish price of almost $60 per token. This skyrocketing price also comes with an incredible growth rate of over +2500% from January to May. Indeed, this kind of crypto event really captures the interest of traders and investors around the world.
Today, SOL trades a decent price of 46.58 above the Fibonacci golden ratio ( .618), a bullish position. If this trend keeps on, SOL might be able to regain back its position above the bullish price of $55. If it does, the pathway towards the skyrocketing price of $70 will open, a position that SOL must secure.
Let us say that SOL achieved a sky-high price of $70 which is +18% higher than its past price of $60. In this case, SOL might have the chance to climb even higher to reach the exaggerated price of $100 in 2022 to 2023. Of course, SOL must be able to double its current market capitalization in order to achieve that. Or else, this picture of a $100 price will be just like a bubble that blows away.
However, if the bullish market turns against the crypto, the price of SOL could plummet. For this reason, SOL might experience a price decline below the Fibonacci level of .382. In this case, SOL must regain its composure and head back as quickly as possible to its uptrend position.
If not, the bears might pull down the crypto price to $23.6, a level with a -50% decline rate from its current price. Yes, this price level can cause FUD among its global investors, a bearish situation.
On the other hand, the relative strength index (RSI) of the crypto points at level 54.69. In other words, the crypto is neither oversold nor overbought. In this case, traders and investors can still look forward to a healthier trading environment without worrying about any major price reversals.
With the ongoing developments in the Solana network, we can say that SOL has a bright future in 2021 to 2023. For this reason, the bullish price prediction of SOL in 2021 to 2023 is $70 up to $100. On the other hand, Solana’s bearish price prediction for 2021 is $23.6.
Let us say that the bullish trend of Solana continues until 2025, if it does, the crypto might reach and go over the bullish price of $100. Indeed, this is a price level that would surprise the crypto community.
If the bullish market continues to favor the crypto, then we can say, yes it is a good investment. However, if the bullish market turns against Solana, the crypto market may experience a price decline.
To all interested traders, Solana is available at crypto exchanges such as VCC Exchange, Binance, and OKEx to name some.
As per the upcoming developments in Solana Blockchain, Its very much possible that Solana price will reach $100 in 2021.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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