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Solana Price Prediction: SOL Price to Form New Lows Soon, What’s Next?

Solana Price Prediction

Key Takeaways:

Solana(SOL) PRICE & Technical ANALYSIS 

Current Price $31.62
SOL Price Prediction for Today $34.5
Volatility  13.54%
50-Day SMA $38.84
14 Day RSI 38.79
Sentiment Bearish
Fear and Greed Index 23 (Extreme Fear)
Green Days 13/30(43%)
200-Day SMA $63.54

Solana Technical Analysis for September 2022

Solana price is trading above $30 at $31.24, respecting the lower support from the past week. With the recent price slash, the asset dropped heavily and could be waiting for the right opportunity to rebound. While the technicals are in favor of a notable upswing, the bears may continue to maintain significant pressure over the asset. 

The RSI has bottomed hard, while MACD is closer to turning bullish. The volatility is pretty less and hence if the price rebounds may remain elevated for some time ahead. However, the asset has surpassed the pivotal 50-day MA levels in STF, indicating a short-bounce fast approaching. 

Additional Read: Solana Technical Analysis

Solana Technical Analysis at a Glance

Solana price has dropped more than 88% from its highs in the past 8 months, while the bearish trend in the past 3 months has intensified. The asset is trading within the fixed zone, without attempting a breakout. In the coming days, if the market sentiments ease a little, then the asset may rebound and reach immediate resistance, else could continue hovering within predefined levels ahead. 

Short-Term Despite a low-key price trend, the SOL price managed to hover within an average level, but may soon drop with a notable margin
Mid-Term The Solana price in the mid-term is closer to being bullish and rising with a notable margin
Long-Term The asset here is attempting to ignite a recovery phase, however, the supporting buying volume is pretty less than required

Will SOL Price Reach $35 Today?

Solana price largely remained elevated through the previous trading day but faced a slight rejection at the end of the day’s trade. No doubt the price raised to reach $32 but failed to sustain above these levels and dropped below $31.5 levels. The selling pressure has accumulated and hence the price may remain consolidated until the day’s close.

On the brighter side, if the asset increases its volatility, the price movements may also be redirected towards the north. In such a case, the SOL price may close the day’s trade close to $32 and even may surpass these levels. 

Will SOL Price Reach $60 by the End of the Month?

Ever since the price slashed during the beginning of April trade, the asset has remained heavily bearish. Therefore, the investors seemed to have distinct from the asset to a large extent as the addresses & the social volume have dropped heavily. While the volume is notably high, the bears have largely dominated. 

Currently, SOL price is not flashing any significant upcoming trend as the prices are constantly trading along the support without any positive outlook. Therefore, in the upcoming days, the price may continue swinging within the predetermined range for sometime before deciding on the upcoming trend. 

Therefore, the Solana price prediction for the month is between $35 to $40. 

Solana Price Prediction: Price Trend Comparison with Polkadot(DOT)

Source: Tradingview

Additional Read: Polkadot Price Prediction

Solana Price Prediction: 2022, 2023, 2024, 2025

Solana price is expected to gear up in the coming days as the price is expected to breach the initial target at $40 and later at $50 very soon. By the end of the Q3 trade, the price may remain elevated, aiming to sustain above gained levels. 

Expecting a bullish close for the year, the SOL price is expected to raise significantly in the coming years. 

Year SOL Price Forecast
2022 $67 to $78
2023 $150 to $210
2024 $250 to 330
2025 $300 to $350

Solana News Today

Additional Read: Solana Blockchain Network Failures

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