Solana traders buy on prediction of a SOL price exceeding $ 270
Solana’s price (SOL) was in tears after releasing its sixth consecutive daily bullish candle. With the return above the monthly R1, expect new all-time highs to be hit soon, as favorable tailwinds aren’t going to end anytime soon. The Relative Strength Index (RSI) introduces a note of caution when it comes to SOL making new highs.
Must Read: BTC Price Forecast 2021: Bitcoin picks up speed for the next round
Solana price targets 33% gains
Solana’s price returned above the monthly R1 to $ 206.91. With this pop, new buyers have been attracted and the price of SOL is now raised to $ 219.75 to hit new all-time highs. The RSI has entered overbought territory, which may limit further profits. Some caution is advised, although SOL is used to trading widely in overbought territory in the RSI, as was already shown around mid-September, where another bull run occurred.
The price of SOL will likely push towards $ 240 for an intermediate pivot point and then up to the R2 monthly resistance level at $ 272.10. Once there, expect the uptrend to stop and pause as profit taking will occur, and the RSI will need to calm down as it has gone too far into the overbought zone. Hence a slight correction towards $ 240.
If the positive ripple effect of Bitcoin or the global markets starts to wear off, still expect the price of SOL to hit new all-time highs, but then start to fade relatively quickly. Traders will start to match and oversold traders’ profit taking, and the price will start to fall back below $ 180. Another lower leg would see $ 160, with the monthly pivot and 55-day Simple Moving Average (SMA) as support.
Solana (SOL): A Miracle of Crypto Science
The revolution of blockchain assured investors of cryptocurrencies of privacy and confidentiality. They believed this scientific algorithm is sturdy enough to protect their transactions, keeping them safe. Even though transactions are recorded in the general blockchain, neither the sender nor the recipient and not even the amount transferred is in any way apparent to other users on the network.
Solana is considered an effective, fast, secure, censorship-resistant blockchain that provides the open infrastructure required for global adoption. Hence, the validator’s main mission is decentralizing the network by providing computing resources to validate transactions or storage for ledge redundancy. Check out the coin details before we jump to detailed Solana price prediction.
Solana (SOL): The Topography Within
Solana coin aims to act as a bond for the fiat and digital world where the trust factor of the masses plays a pivotal role. Evaluating the merits of Solana (SOL) coin, it includes a high-performance-oriented distributed identity system, distributed data exchange, and collaboration and distributed procedure protocols.
It blends segregated communities, distributed attestation, and merged a versatile weave of modules that are restricted to specific industries. So, it emerged as a giant that produces a flawless and most reliable ecosystem, thereby creating a highly collaborative and customer-friendly interface based on deep learning for the public and private.
Solana: The Community Landscape
Solana crypto community is a globally distributed home to developers, token holders, validators, and members supporting the protocols. Community funding is a way of life at Solana. The network remains active with write-ups, articles, blogs, podcasts, and chats over YouTube, Twitter, GitHub, and many other social platforms.
Solana: The Community Landscape
The native currency SOL coin has been shaped by the expert hands of engineers and talented programmers, and it makes it all the more reliable.
- It has a financial backing of a robust group, and hence, it makes it free from any scams.
- The fame of SOL crypto also emerges from the alliances making it an esteemed altcoin.
- Any investor requires no special training or expertise to trade in SOLs.
- SOL coin also enjoys the benefits of policy governance and regulation changes.
Solana Price Analysis
The Solana crypto prices have depreciated owing to general mid-term trends based on historical data and technical analysis. However, going by the movement, it can be viewed that in the middle of 2020, Solana’s price was much higher after July 2020. At that time, the SOL coin price was trading above $1, and then, it continued the upside rally till August 2020, when it has marked a new high of $4 price mark. After that, the price of SOL to USD recorded a flattish trend till the beginning of this year.
Going by the technical analysis and fundamentals, SOL currency has garnered a top position in the cryptocurrency market. By the end of January 2021, the coin had almost reached $4.40. Since then, due to a significant bullish phase, the currency leveled off to a price above $40. Based on the current price of Solana the most of the technical indicators reflects a bullish scenario
SOL Price Prediction: An Expert Forecast
While some of the experts, as well as crypto forecast platforms, analyze a conservative angle to predict, others make a forecast based on more realistic and optimistic trend, for instance:
It entirely depends on the currency’s movement and its fundamentals. The SOL price might trade around $65 by the end of 2021.Reddit Community
Based on our SOL price prediction, a long-term increase is expected; the prognosis for 2026 is $574. With a 5-year investment, the revenue is expected to be around +1300%.Wallet Investor
SOL has a promising future. It may get marginally impacted, but bulls will be back, and by the end of 2021, its price may skyrocket to $199.Coin Price Forecast
As per the NEO predictions done by Long forecast, the price of the coin is expected to reach around $106 by the end of 2021.Long forecast
The NEO prediction conducted by GOV CAPITAL states that the coin would hover around $103 by the end of 2021.GOV Capital
Solana entered the year 2021 with a trading price of $1.60. On a bullish note, the altcoin started to rise further. By the end of 2021, it might trade around $20 and anticipate to reach up to $120 in the future.Coinpedia
SOL currency seems to be showing positive momentum. The bulls will push it up like the other crypto giants too. It may trade around $60, and by the end of 2026, it might cross $122.Digital Coin Price
