Solana is a decentralized blockchain. It is developed to facilitate scalable, user-friendly apps. Solana’s native cryptocurrency is SOL. The SOL has received a lot of attention in recent days, notably during the current crypto rally. SOL runs just like how ETH works on Ethereum. The only difference is that the SOL holders stake the token to verify transactions within the PoS consensus mechanism. It also allows users to engage in governance methods, earn bonuses and pay gas fees. Solana is a single-chain, delegated-Proof-of-Stake.

The benefit Solana has over other blockchains is that it enables the blockchain to run efficiently despite network activity. In addition, Solana utilizes Cloudbreak, a shared log that blocks transaction history from using too much computer space.

A few days ago, the Solana price was able to break a higher-level trend line, which had caused prices to fall. A short time later, the price was able to rally to the $127 – $133 resistance area and was rejected. As it seems like the price will not break the resistance, for the time being, we anticipate the price to correct for the time being. This correction could result in Solana price confirming the broken trendline as support. Thus, the breakout would be confirmed and a future uptrend could be formed. In general, the daily chart indicates that the price is overbought, which is why an early correction is overdue!

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Solana reaching a price of $200 should not be hard. In fact, its all-time high price of $260 was reached back in November 2021. SOL prices crashed as part of the crypto market adjustment. In the other hand, one should consider closer price targets before eyeing the psychological price of $200.

For now, we assume that Solana prices will fall in the next few days and will therefore be bearish. A retest of the trendline could occur during the descent. After retesting the trend line, a fresh rise to the resistance zone ($127 – $133) might occur. However, here we expect a break of the resistance followed by a move up to the next resistance located around $150. Subsequently, a renewed descent to the new $127 – $133 support zone might occur.

After this short-term retracement, prices are expected to continue on their way upwards, specifically towards the psychological price of $200. It is worth noting that this scenario assumes a positive crypto market and no negative sentiment in the crypto market.

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Solana price has formed a falling wedge over the past few weeks and months. This wedge breaks out bullish in most cases and is a trend reversal formation. Since Solana price has already broken the upper trendline, we believe that the price is in the midst of a bullish breakout and is about to rally even more. In the short-term, the price could retest the trendline to confirm the breakout, however, this is unlikely in our view at this time. Instead, we assume a direct increase towards the target area.

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There is no denying that Solana price should breach its previous psychological price of $200 and reach its ATH of $260. Ont the other hand, good traders should position themselves to current price action. Once the crypto market goes back to its bullish trend, Solana should bounce back stronger. Now for the short-term.

The target of the falling wedge should be around $125, targeting the high of the year 2022. However, this price increase does not necessarily mean that the Solana price will be bullish for the next few months. Instead, we expect Solana price to correct after hitting the $125 target. How long the correction will last and whether it will break below the current low of around $75 remains to be seen. This all depends on the current macro conditions of the cryptocurrency market as a whole. If the crypto market continues to fall lower, we can see Solana prices back down to those levels again. We will soon be addressing these questions in the next Solana price prediction.

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Solana is a blockchain network that is characterized by a combination of high transaction speed, good security, and decentralization. The combination of these 3 factors has long been considered a problem that the largest and most important smart contract platform, Ethereum, had to struggle with.

With its innovative proof-of-history consensus mechanism, Solana can achieve transaction speeds of up to 10,000 transactions per second. Solana also has smart contract functions, which suddenly made the blockchain extremely interesting for decentralized applications in 2021. Solana offered a massive increase in scalability compared to other blockchains with smart contract capabilities.

In the second half of 2021, Solana became a major player in the NFTs and DeFi space extremely quickly. This caused a price explosion of the SOL token, which peaked in the fourth quarter of 2021. Solana surged into the top 10 cryptocurrencies by market cap, at times even overtaking established cryptocurrencies like XRP and Cardano.

Solana's problems were often related to reliability, as there have been repeated network failures on the Solana blockchain in recent months. It turned out that the proof-of-history consensus mechanism was prone to errors at extremely high transaction volumes, which can lead to "transaction congestion" and eventually congestion of the network. Still, Solana remained one of the most promising cryptocurrencies. So what is Solana Pay all about?

The company Solana Labs is primarily responsible for the development of Solana Pay. They work with many partners such as Shere, Circle, Checkout.com, Citcon, Phantom, FTX, and Slope. Team Circle conducted intensive studies that highlighted the need for new digital payment methods. According to Circle, 73% of all companies see the range of digital payment methods as a fundamental growth factor for 2022.

Due to this strong demand, the development of a new payment system based on the Solana blockchain began in 2021. Solana Labs and its partners want to be at the forefront of these developments and offer decentralized alternatives to services like PayPal.

Easily buy Solana's SOL token on the Binance  and  Bitfinex exchanges !

The Solana Pay digital payment platform offers companies and individuals a fast, fee-free payment system that leverages the strengths of the Solana network for transactions. According to its own statements, the network should support up to 65,000 transactions per second. The software should be easy to integrate into any form of company platform. 

Both developers of dApps can integrate Solana Pay for simple transactions, as well as simple digital sales platforms can implement the application if they have a Solana wallet. Many observers are already comparing Solana Pay to PayPal. For example, Solana Pay could bring the same innovations to crypto payments that PayPal brought to traditional digital payments.

At the moment Solana Pay supports 3 wallets: Phantom, Crypto Please and FTX. The wallets have the following properties:

• Phantom is a Solana exclusive wallet that allows you to buy and hold tokens and swap cryptos and NFTs.
• Crypto Please is a wallet that focuses on Solana, and that allows users to send cryptos via Telegram, WhatsApp and other applications.
• FTX is a well-known major crypto exchange that offers numerous cryptocurrencies, including Solana.

Solana's price was previously in a bull flag that could break out soon. The price reached a GoldenPocket, which is why an assumption of a breakout was imminent. However, the price has fallen again to the +/- $ 148 support. Subsequently, there was a pump on the upper trend line of the bull flag. A brief bearish reaction happened, but it appears that the Solana price is now breaking out of the formation in a bullish manner! Let's jump into this Solana Price Prediction and show some medium-term goals before the $ 300.

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The Solana price broke the upper trend line today. However, the price needs to remain above the trendline for the next few days to confirm that the price has broken out of the bull flag. It can still happen that we are now completely sold off and it was just a fakeout. 

We are not assuming that this is the case, however. From now on, we expect it to rise to the $ 216 resistance. After that target is reached, the price could rise to $ 235, then $ 260, and finally $ 320. The $ 320 is the bull flag's ultimate goal. From then on we would slowly start to book profits, as the course could start to correct from this point. The bull run may already be over by then, which is why there could be a blowoff top (quick sale within a few days).

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The recent Bitcoin spike made some altcoins soar in prices. Solana was one of those altcoins, gaining more than 25% in the past week alone. Now that SOL is near its all-time high price of USD 216, many traders think that SOL will adjust lower For them, this ATH zone is a strong sell area. Will Solana's price fall in the coming week or will it manage to break its previous ATH and reach a new high? In this Solana price prediction article, we're going to look closer at whether the technical outlook of SOL would allow another bullrun.

Back on the 9th of September 2021, SOL hit a record price of USD 216. On the other hand, this was immediately met with profit-taking which led its price to retreat back to a price of USD 116. In figure 1, we can clearly see that this price decrease coincides with the 50% Fibonacci retracement level. This 42% drop happened within 12 days but started to recover soon after. Today, prices are back at USD 200, and are eyeing their ATH.

For SOL to be able to confirm another bullrun, prices need to break the previous ATH and consolidate above it. If prices manage to do that, the Fibonacci extension projects a new high of USD 280 or an increase of almost 40%. On the other hand, failing to break the ATH would mean another slight adjustment towards USD 175.

In the past 24 hours, the cryptocurrency market at an aggregate level showed a consolidation. The top cryptos CRV and NEXO gained respectively 14% and 9% while the bottom cryptos SOL and AVAX barely lost 3% each. This means that most cryptos are barely adjusting for the day.

1- Bitcoin (BTC) : + 0.12 %

2- Ether (ETH) : + 3.34 %

3- Binance Coin (BNB): + 0.57 %

4- Cardano (ADA) : + 0.78 % 

5- Tether (USDT) : 0 %

6- Solana (SOL) : - 3.56 % (surpassing XRP) 

7- Ripple (XRP) : + 0.10 %

8- Polkadot (DOT): - 0.38 %

9- Dogecoin (DOGE) : + 3.09 % (surpassing USD Coin) 

10- USD Coin (USDC) : + 0 %

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