Solana (SOL) going strong amidst market crash

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Solana (SOL) may be one of the few cryptocurrencies that are immune to the current market crash. As established cryptocurrencies suffer immensely, Solana (SOL) continues on its strong uptrend. Amidst the crashing market, Solana established its new all-time high at $52. At the time of writing, the cryptocurrency is trading hands $49 apiece. The price of the cryptocurrency has increased by 8% in the past twenty-four hours while the daily trading volume has surged by 225%.

Solana (SOL) Technical Analysis

The market sentiment for SOL coin is strongly bullish. Out of the twenty-six technical indicators, sixteen are giving out a signal of buy with nine standing at a neutral position and only one indication of sell. The oscillators are mainly neutral while the moving averages are strongly bullish.

Solana (SOL) Technical Analysis
Solana (SOL) Technical Analysis

Solana crypto has been operating in an ascending channel formation. A trader has identifiedSolana to have entered a rectangular zone marked by a major resistance and support. The price movements of the cryptocurrency have been oscillating inside the zone. The trader is expecting Solana crypto to soon break out towards the upside of either of the formations. Even if Solana breaks down to the downside from the ascending channel, it will still find strong support inside the rectangular zone and will stabilize. The trader has set the price levels of $64, $72, $82 and $99 as potential price targets.

Solana (SOL) Price Prediction

Solana (SOL) has been surging and the project is considered to possess a lot of potential. Solana is designed to facilitate decentralized app creation but with much higher ease and scalability. The project has bullish projections for the future. Wallet Investor predicts Solana crypto to be valued at $150 after a year while the price after five years is expected to climb to $574. Digital Coin Price is, however, not as bullish. They project the price of Solana to be at $73 after a year and $219 after five years.

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