Price Predictions

Solana Price Prediction Weekly (May 2022): SOL Price is Recovering But Will it Hit INR 5000?

SOL Price Prediction

Key Takeaways: 

  • The SOL price closed the previous day’s trade at INR 3439.05 with a market capitalization of INR 1,354,875,198,483 and a circulating supply of 336,931,013.18 SOL
  • After undergoing a huge bearish trend, Solana price is now attempting to flip from the bearish trend 
  • Gaining a notable bullish momentum, the SOL price appears primed to surge by 35% to reach close to INR 5000 initially

Solana Price Analysis:  Will SOL Price Hit INR 6,000 This Week of May?

Solana’s price after ranging notably high in March ended up sliding beneath massively since the beginning of April’s trade. After a brief consolidation in the first few days of May, the price dropped extremely hard from INR 10,000 to below INR 3500. However, after a minor consolidation, the price quickly rebounded and currently trying to stabilize a strong uptrend.

Conversely, the price has already ignited a flip from the lower support and further may maintain a significant upswing. The MACD may soon flash a bullish signal and further, the SOL price may attempt a v-shape recovery. And in such a case, the price may hover close to INR 5400 to end the weekly trade.

Check out the Latest Prices, Charts, and Data of  SOL/INR.

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

Source: Tradingview

  • Serum (SRM) is one of the popular Decentralized exchanges and an ecosystem built on the Solana blockchain
  • Interestingly, both the assets maintain a steep descending trend right from the beginning of April’s trade and currently attempting a flip
  • Presently, the Solana price after igniting a minor upswing in the first few days of April, surged 15% above the average price and currently dropped hard towards -61.22%
  • On the other hand, Serum prices also dropped hard from the average prices below -70% and currently recovering slightly to hover around -68.44%

Additional Read: NEAR Price Prediction

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

Source: Tradingview

  • Solana in both the pairs has plunged hard ever since the beginning of the April’s trade, pushing the assets into a deep bearish trend
  • However, the SOL/BTC still maintained some stability and strength compared to that of the SOL/USDT.
  • The USDT pair was deeply impacted by the current market crash and as the Bitcoin price held itself above $28,000 firmly, the BTC manifested some strength
  • However, both the pairs have undertaken a bullish divergence but the probability of a v-shape recovery appears to be pretty less
  • Currently, the SOL/USDT pair slid from the average levels to as low as -65% and now has recovered a little to hover around -60%
  • On the other hand, SOL/BTC price also dropped from the same levels to mark its lows at -40% and is currently at -37% recovering to some extent.

Top Gainers & Losers of the Week

Top Gainers

Crypto Price* 7-Day Percentage Change
Apecoin(APE) INR 669.52% +31.30%
Quant (QUANT) INR 2,274.49 +24.77%
Chromia (CHR) INR 17.64 +24.37%
ZCash(ZEC) INR 7,814.79 +20.82%

Top Losers

Crypto Price* 7-Day Percentage Change
TerraUSD(UST) INR 0.00 -100%
Terra (LUNA) INR 0.00 -100%
Anchor Protocol (ANC) INR 2.27 -85.66%
Mirror Protocol (MIR) INR 18.94 -32.20%

*Prices are of 13 May 2022 at the time of writing the article

What’s New on CoinDCX? New Coin Listings on CoinDCX App

New Coin Market Capitalization Circulating Supply
Storj (STORJ) $327,741,900 389,834,787.61 STORJ
STEPN (GMT) $1,618,750,340 600,000,000.00 GMT
Audius (AUDIO) $603,107,008 713,381,683.00 AUDIO
JasmyCoin (JASMY) $90,530,704 4.75B JASMY

*Prices are of 13 May 2022 at the time of writing the article 

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.

Share this Story
Load More Related Articles
Load More By CoinDCX
Load More In Price Predictions

Check Also

Bitcoin Price Prediction 2023: BTC Price Gearing Up-Will it Reach $25,000?

Let's take a look at the factors that could affect the price prediction of Bitcoin in the coming years. Will bitcoin hit $25,000 in 2023



    Invest in Bitcoin, Ethereum, & other 200+ crypto assets.
    Download the app now, register & start with as low as Rs.100
    ios download link
    android download link
    qr code for download