Home Cryptocurrency Solana Price Prediction $58.4 |

Solana Price Prediction $58.4 |

by Serge Shlykov

Solana is a scalable, low-cost, and blockchain-free solution for high-performance applications. It is an off-chain solution, which means it moves costly computations off of the blockchain. Solana is designed to be a solution for decentralized applications that require high transaction speed and throughput. The platform claims to achieve instantly scalable, low-cost transactions, while maintaining the decentralization and security of the blockchain.

Solana is a project that has been around since 2015, with a small but dedicated team. The team initially tried to raise funds for their project in 2017, but after their ICO failed, they decided to regroup and come back in 2018. Their main goal is to create a platform that will allow for a truly scalable network of decentralized applications that can offer users with a multitude of service options. In this Solana review, we’ll be taking a look at this project to understand if Solana is able to make a mark on the crypto market.

Summary of the situation

  • Solana’s price prediction points to the cryptocurrency’s recent ATH of $58.4.
  • Having taken another step, Solana is now repeating the path.
  • Given the continued downward trend in the cryptocurrency market, Solana’s price collapse could be as high as 15%.
  • If Solana breaks through the 50% Fibo retracement level at $39.6 downwards, all gains will be erased.

The last few days have been tough for cryptocurrencies in the market. Ethereum and Bitcoin are currently experiencing a sharp drop in price as the entire market struggles to stay afloat. Despite the challenging conditions, Solana is one of the few crypto assets that have proven their worth by reaching new price milestones.

Solana Price forecast: Price Overview

During the 15. During the May trading session, Solana managed a bullish price spike that saw the crypto-currency appreciate by about 15%. During the price movement, the cryptocurrency broke the upper trend line and showed an impressive run up to the $50 barrier. According to Fibo’s prediction of 15. In May, the crypto asset was expected to reach new milestones in price ranges around $67 and $72. However, the situation has not remained unchanged due to the persistently poor market conditions. The 17th. In May, Solana was the only crypto asset in the top 25 traded cryptocurrencies in the green. Solana rose 4% in afternoon trading to about $52. In addition, the currency’s trading volume increased 220% to $2.5 billion. At the time of writing, Solana has a market capitalization of $12.2 billion, making it the 17th most valuable cryptocurrency, according to CoinMarketCap.com.

Solana price development in the last 24 hours

Source: TradingView Based on Solana’s price movement over the past 24 hours, the cryptocurrency appears to be in its 19th day of trading. May have shown bullish fatigue. During this morning’s trading, Solana experienced a slight price decline, which pushed the price towards the short-term demand level. Based on key technical indicators and market trends, there is a high probability that this support zone will be breached. If this happens, Solana will test a critical level before beginning an upward price movement. At the time of writing, Solana is trading at around $42.65, which is slightly below the $45-$52 demand range. Given the criss-cross structure of the virtual asset market, Solana is likely to experience further price declines before a new wave of upside begins. Surprisingly, the Momentum Reversal Indicator (MRI) began to give warning signals even before the price broke out. On the MRI, this warning sign was expressed as a yellow downward arrow on Solana’s 24-hour graph.

Solana 4-hour schedule

Source: TradingView Solana Price Prediction $58.4 | According to the 4-hour chart, Solana is currently forming a technical formation that suggests the cryptocurrency could begin a significant bullish move after stabilizing. When this happens, a red 12-hour candle appears on the price chart. If this happens, Solana will see a price correction of one to four candles. Investors should currently keep an eye on Solana’s demand zone, which is currently in the $43-$51 range.

Supplement

Based on market trends and key technical indicators, Solana is likely to fall to the 60.9% Fibo retracement level at 43.5. Traders should keep an eye on this level as a price reversal is very likely. In the event of a reversal to the 60.9% Fibonacci retracement level, Solana will retest its current $58 price ceiling. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.

Solana is a scalable, low-cost, and blockchain-free solution for high-performance applications. It is an off-chain solution, which means it moves costly computations off of the blockchain. Solana is designed to be a solution for decentralized applications that require high transaction speed and throughput. The platform claims to achieve instantly scalable, low-cost transactions, while maintaining the decentralization and security of the blockchain.

Solana is a project that has been around since 2015, with a small but dedicated team. The team initially tried to raise funds for their project in 2017, but after their ICO failed, they decided to regroup and come back in 2018. Their main goal is to create a platform that will allow for a truly scalable network of decentralized applications that can offer users with a multitude of service options. In this Solana review, we’ll be taking a look at this project to understand if Solana is able to make a mark on the crypto market.

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