SOLANA PRICE ANALYSIS: IS SOLANA'S $40 TARGET REALISTIC OR MYTHICAL?

[crypto discussion]

 SOLANA experienced a 100-fold increase in value between November 2020 and November 2021, making it a popular growth story. Then, after a short period of time, it had fallen by more than 85% from its peak. Two network outages that Solana experienced in May and June added to the downward pressure already felt in the markets for cryptocurrencies and stocks.

Solana (SOL) has been trading just below the 20-day EMA ($35) for the past few days, but the bears have not been able to profit from this weakness. This suggests that at lower levels, there aren't many sellers.
The buyers will now attempt to push the price above the 20-day EMA. If they are successful, the SOL/USDT pair may rise to the 50-day SMA ($40). If this barrier is broken and closed above, the windows could open for a potential rally to the psychological level at $50.

On the other hand, if the price moves away from the moving averages, it might indicate that traders are still selling during minor rallies and that the market sentiment is still bearish. The bears will then drag the pair below $30. If they do that, the pair might fall to $27 and then to $25.

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[minhtra]

If Solana had ETH market cap it would be 1 SOL = $382 right now https://www.coingecko.com/en/compare-cryptocurrencies?coins=solana,ethereum
They got to work on stability and not let the chain stop. More and more dapps should be coming soon

[Anonylz]

$40 realistic or mythical? This sounds like what a short term trader would say, if not I don't understand why sol reaching $40 would be mythical if you know this project and it's previous ath.
Am not a short term trader so my response will solely base on long term goal, and long term I know sol will do way more than what you give it credit for, price wise.

[jossiel]

If Solana had ETH market cap it would be 1 SOL = $382 right now https://www.coingecko.com/en/compare-cryptocurrencies?coins=solana,ethereum
They got to work on stability and not let the chain stop. More and more dapps should be coming soon

But that's not ETH.

Eventually, if the market pushes back again to what it used to be like last year. Then we will be able to see that market cap. Right now it's $35 but once the market is up again.

Those SOL holders are likely to celebrate as that could be the time that you'll see it on the top again.

[Reatim]

SOLANA experienced a 100-fold increase in value between November 2020 and November 2021, making it a popular growth story. Then, after a short period of time, it had fallen by more than 85% from its peak. Two network outages that Solana experienced in May and June added to the downward pressure already felt in the markets for cryptocurrencies and stocks.

Solana (SOL) has been trading just below the 20-day EMA ($35) for the past few days, but the bears have not been able to profit from this weakness. This suggests that at lower levels, there aren't many sellers.
The buyers will now attempt to push the price above the 20-day EMA. If they are successful, the SOL/USDT pair may rise to the 50-day SMA ($40). If this barrier is broken and closed above, the windows could open for a potential rally to the psychological level at $50.

On the other hand, if the price moves away from the moving averages, it might indicate that traders are still selling during minor rallies and that the market sentiment is still bearish. The bears will then drag the pair below $30. If they do that, the pair might fall to $27 and then to $25.

But it is standing at 35 dollars now?

https://coinmarketcap.com/currencies/solana/

though it still decreasing 3% today yet that is a close to the target of 40$ and Solana has its future more than any coins because this coin has a lot of support and investors adding me so how could this stand long than it cannot reach?

yes SOL will increase to this level but at least not this moment , maybe in the end of 3rd quarter ?

[peter0425]

If Solana had ETH market cap it would be 1 SOL = $382 right now https://www.coingecko.com/en/compare-cryptocurrencies?coins=solana,ethereum
They got to work on stability and not let the chain stop. More and more dapps should be coming soon

Lets not jump into that target because at least we can see that 40$ in the sooner time from now, I checked the price and it stays at 30$ and up so meaning we are aiming for 10-20% increase for that to happen?
if does well i don't see any impossible matter for this one.

[rodskee]

it is now 36.35$ as I am typing , and that is 4% increase  just this day alone so if this continue to increase till tomorrow then maybe  we can see this 40$ this week.
SOL had been driven the market increasing these days , maybe because there are lot of investors turning to Solana than other altcoins so if this continue then maybe this week there will be at least 50$ for SOL.

[serjent05]

@OP is very conservative in his speculation about Solana.  Solana had already crossed $200 barrier so I think you should be asking way more than the ATH.  Solana @$40  is very possible and realistic.  Once the Bitcoin market rallies, I bet Solana will be among the first ones to follow the Bitcoin uptrend movement.

[pijexit235]

#Polygon Joins #Solana in Bringing Web3 to Smartphones 🚀

[doomloop]

SOLANA experienced a 100-fold increase in value between November 2020 and November 2021, making it a popular growth story. Then, after a short period of time, it had fallen by more than 85% from its peak. Two network outages that Solana experienced in May and June added to the downward pressure already felt in the markets for cryptocurrencies and stocks.

Solana (SOL) has been trading just below the 20-day EMA ($35) for the past few days, but the bears have not been able to profit from this weakness. This suggests that at lower levels, there aren't many sellers.
The buyers will now attempt to push the price above the 20-day EMA. If they are successful, the SOL/USDT pair may rise to the 50-day SMA ($40). If this barrier is broken and closed above, the windows could open for a potential rally to the psychological level at $50.

It is really hard to profit from this bear market but it might be true that the case of solana is quite different because there are coins that still continues to fluctuate because there are demands that keeps on coming from them while from solana, the investors are distancing themselves because they are aware that the coin have some on going issues and I think that was a critical one.

What they are doing for now is just monitoring the coin and they will watch out the news to know latest the updates or to know if the issue have been sorted out already or not before they will start on supporting this coin again. It's better to be safe than sorry though.

[minhtra]

Solana price approaching $40 now speaking of the devil

[Sterbens]

You need to note from recent cases regarding blackouts, that it is clear that it does not make traders longer to hold Solana. So if you look at the series of blackouts this sounds even more concerned about what Solana can't do going forward. Remember blackouts are not trivial things that can be covered up with positive news flows and may hit investors and traders slowly and no longer want to drop their money. The Solana project has not released any new news yet, which means that the problems faced are quite serious.

[el kaka22]

Well, 40 bucks was reached literally end of last month and that means it hasn't been that long, maybe like 10 days? I do not know. This is why I believe that we shouldn't really be shocked if SOl manages to reach 40 bucks. This is also a bit about the market as well, if the market goes up then the price of SOL would go up as well.

Don't get me wrong, I dislike SOL and neither trade it nor own it anymore, I gave up all because of the problems they have with their blockchain and the questionable decentralization claims. However, if the market goes up, bitcoin becomes like 21k or so then it wouldn't be that weird to see SOl at 40 bucks as well.

[CuriousGeorge]

$40 is really low target honestly, solana could easily reach this mark within just next few days since it's currently already $38.
solana could even become the eth killer in the long run since it has many great quality project in the platform and I think it will eventually reaches the mark of $100 in no time.
considering that despite all the outages solana can be argued that it has solid foundation

[ilovealtcoins]

If Solana had ETH market cap it would be 1 SOL = $382 right now https://www.coingecko.com/en/compare-cryptocurrencies?coins=solana,ethereum
They got to work on stability and not let the chain stop. More and more dapps should be coming soon

You compare sol to eth again, sol used to be rated as an eth killer but look what sol is doing. The network crashed constantly and it was almost impossible to fix the problem of the sol team.
they promise recovery, but it happens constantly and it will recur in the future.
Sol can never keep up with eth, these are just overblown advertisements.

[GreatArkansas]

$40 is very possible for Solana, we saw how huge the market dumped recently, and most of the altcoins even how high the market cap is still being rekt.
Solana now is $38 upon writing this and weekly candle closing is fast approaching once we will close on the green candle, I believe it's a good sign for this month, especially on Solana which lot of good news fundamentally.

[Republikcoin.com]

You compare sol to eth again, sol used to be rated as an eth killer but look what sol is doing. The network crashed constantly and it was almost impossible to fix the problem of the sol team.
they promise recovery, but it happens constantly and it will recur in the future.
Sol can never keep up with eth, these are just overblown advertisements.

Everyone can judge this very well after seeing the things that happened to Solana and also Ethereum, because Solana's party who promised to recover the network crash and create excessive advertising is just to attract everyone's interest to keep liking Solana. Even though it is very clear that Ethereum has always been more difficult to beat by other altcoins in the past and also today. So there is nothing worth comparing because the two are very different.

[bitterguy28]

Just this day alone ?  it almost there mate as Solana had climbed almost 40$ this day. and here it is..

24h Low
$36.81

 24h High   
$39.35

according to the record , it is  65 cents short for breaking 40$ so anytime from now it will be broken I'm sure 


https://coinmarketcap.com/currencies/solana/

I know that there are many supporter of SOL and with this things can happen every minute from now.

[leea-1334]

Well, 40 bucks was reached literally end of last month and that means it hasn't been that long, maybe like 10 days? I do not know. This is why I believe that we shouldn't really be shocked if SOl manages to reach 40 bucks. This is also a bit about the market as well, if the market goes up then the price of SOL would go up as well.

Don't get me wrong, I dislike SOL and neither trade it nor own it anymore, I gave up all because of the problems they have with their blockchain and the questionable decentralization claims. However, if the market goes up, bitcoin becomes like 21k or so then it wouldn't be that weird to see SOl at 40 bucks as well.

Ah, I wish I could find the guys who were saying SOL at $100 was absolute bargain price, easy 2x back to ATH and that wasn't too long ago. I mean, fine,,, I think it has some great dapps but if utility was truly there then bear markets should not have scared them away right?

Bitcoin and Ethereum still continue raking up volume and difficulty despite price. What does this tell you?

My friendly regular reminder of utility matters

[Ararbermas]

Remember that Solana is the only one altcoin that really making progress last year and still promising despite of its situation.. So it's not surprising if it goes higher again without knowing. Indeed they have good team and constructive goal compared to some altcoins that made hypes in the market before solana emerged. So its not impossible IMO.