Solana Price Prediction – SOL above $14

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The Solana price expectation has been bearish since the collapse of the crypto exchange FTX. However, it is still possible that the price above $11.25 will continue to rise. Despite the uncertain cryptocurrency market, Solana (SOL) has held a rally and is now trading around $14.

Still, this uptrend is due to Solana gaining support for the second week in a row. Solana (SOL) fell sharply after the FTX crash because it was linked to Alameda Research, a firm run by former FTX chief Sam Bankman-Fried.

The crash sent Solana down from $38 to $12. FTX was one of the largest holders of Solana coins. Solana has partially recovered and is moving towards $14, which may be due to the news that Solana products have raised more than $200,000 in the past week. This would have played an important role in maintaining Solana’s value.

Solana (SOL) receives support for second week in a row after FTX crash

According to data from CoinShares, Solana products have raised more than $200,000 in the past week, marking SOL’s second good week in a row. However, this is Solana’s first time since the FTX crash that it has received so much support. The FTX crash caused a huge sell-off in the cryptocurrency market, and at the time, a lot of money was pulled out of central exchanges.

Solana Price Prediction Remains Bearish By Cryptocurrency Market

Due to the new expectations of interest rate increases, the entire cryptocurrency market is in the red today. Bitcoin (BTC), the largest cryptocurrency, has failed to sustain the rally and is down 1.41% today.

Despite the small drop, the Bitcoin price remains above $17,000. Still, figures from the US suggest that interest rates will be hiked again, which will have a negative impact on US stocks and the cryptocurrency market, including Bitcoin.

As a result, the current uncertain market is the biggest factor keeping Solana’s price so low. Furthermore, SOL price growth is also limited by the stronger US Dollar because cryptocurrencies have an inverse correlation with the US Dollar Index (DXY).

Due to data from the US, the DXY remains about the same as it started this week as people fear higher interest rate hikes.

Now let’s look at Solana’s price forecast.

Solana Price Prediction

Solana is currently trading at $14, has traded $320 million in the past 24 hours and is up over 1%. SOL has a live market cap of $5.1 billion and is ranked #15 on CoinMarketCap with 363,963,022 coins in circulation. The total supply of SOL coins is unknown.

The SOL/USD trading pair has a support near $11.25 and candles above this level could lead to further gains. Solana has an opportunity to rise further towards the USD 17.50 resistance, indicating a 23.6% Fibonacci retracement.

Solana Price Chart – Source: Tradingview
Solana Price Chart – Source: Tradingview

If Solana continues to buy more, the price could rise towards the next $21.50 resistance. The indicators are currently confusing due to the uncertain market and the fact that Solana is stuck in a lower zone. A bearish breakout below $11.25 could lead to selling as high as $8.

Alternative cryptocurrencies to invest in

Since Solana is not exactly unstable, and it could still be a long time before the price rises much, it is useful to look at alternative coins that are currently on sale in the presale and could rise a lot in the coming months.

Let’s take a look at some of these pre-sale crypto projects.

Dash 2 Trade (D2T)

Dash 2 Trade is an intelligent crypto trading platform that provides users with useful tools, including the ability to backtest their strategies to see how such a strategy has performed in the past. Traders can also choose to automatically carry out transactions without having to keep track of everything themselves.

At the end of the presale, the native token, D2T, will be added to LBANK Exchange and BitMart. The pre-sale is in its final phase after just over a month, last chance for early investors to buy D2T at a low price. The presale has already raised more than $8.8 million from the sale of D2T tokens.

The D2T token will be a means for users to pay for the platform’s tools and services, as well as participate in events and contests. D2T tokens are currently on sale for 0.0533 USDT each.

Visit the Dash 2 Trade Presale here

Calvary (RIA)

Calvaria is a new game to earn game which is free to play, new users get free non-fungible tokens (NFTs) when they sign up. For example, new participants do not need to invest in cryptocurrency to play the game. The first four presale phases of Calvaria’s initial RIA token are selling out quickly, and the fifth phase is already 73% complete.

As this is the final phase, investors should be quick to buy 33.77 RIA tokens for 1 USDT. After Phase 5 is complete, the project will have raised $3,075,000.

Visit the Calvaria Presale here

IMPT – The last week to use the presale

IMPT is a new sustainable crypto that will make trading CO2 credits simple and efficient by placing them in the blockchain. Previously, only companies could trade in carbon credits, which led to many shady deals, the system was outdated and inefficient. Now CO2 credits as NFT can be traded 24/7 via blockchain.

The presale will end on December 11, after which the IMPT token will be added to Uniswap. Soon after, the token will be added to LBank and Changelly Pro. The presale raised $14.5 million and IMPT tokens can be purchased for $0.023 each.

Visit the IMPT Presale here

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