Solana Archives - FaithMight

November 18, 2022November 18, 2022

Solana Hits All-time Low

Since the Solana project was launched in 2021, the first four months were all bullish. Solana had its ICO at $25 and in the space of those four months, it rose to an all-time high of $260. But just like other cryptocurrency assets in 2022, the price of Solana has fallen dramatically.

Investors in crypto have not seen profit in 2022 as many crypto assets have been dipping. Solana’s year’s low is $12.245 which was reached earlier this month, and this currently stands as the all-time low for this cryptocurrency.

Currently, there is a consolidation in motion. However, there are no indications of a rally resulting from this consolidation. On the daily chart, price is currently oversold on the RSI. But there are no indications on the RSI weekly chart that price is oversold.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get cryptos in your portfolio? Schedule a meeting with us here

September 1, 2022September 1, 2022

The Next Crypto Bull Run in 2022

The cryptocurrency market as a whole has seen a bullish trend since June 2022, precisely between mid-June and mid-August. For Bitcoin, the bull run hit its peak at $25,200 on the 15th of August, 2022. For Ethereum, the peak was hit on 14th of Aug at $2030. And for Solana, the peak was hit on the 13th of August at $47.

Since these peaks were hit, the bears have moved in on the cryptocurrency market. Bitcoin took a dip to a new low at $19,500 on the 29th of August. On the same day, Ethereum and Solana hit new lows at $1425 and $29 respectively. Our analysts think that in the next few days, the price of cryptocurrencies might consolidate or even go lower.

However, our analysts think that in the next couple of weeks, the crypto market as a whole might be seeing its next bull run. For Bitcoin, the next rally might push the price above $45,000. For Ethereum, the next rally might push the price above $3000. And for Solana, the next rally might push the price above $100. RSI on all aforementioned crypto assets have indicated that price has been oversold on the daily chart since June. This forecast will bring hope to NFT traders as a lot of NFT assets will increase in value as a result of the next crypto bull run.

June 16, 2022June 16, 2022

Solana Falls Below $30

The cryptocurrency space has suffered a setback in recent times as most crypto assets have dipped in price. This has led to the funds of many investors and traders being wiped out. The hope of price recovery keeps dashing out as price continue to fall.

Solana is the 9th biggest cryptocurrency in the world by market cap, which stands at over $10.7billion. On the 13th of May, 2022, according to this article, Solana was at $52. Our analysts envisaged a continuous fall in price. On the 14th of June, price dipped to $25. The last time Solana price was at $25 was in July 2021, that’s about a year ago. Note that Solana reached an all-time high at $259 in November 2021.

The daily chart shows that the price of Solana has been oversold twice between May and June 2022 on the RSI. The NFT world has also suffered alongside this crypto crash. The value of all Ethereum and Solana-based projects have dropped across all boards. There are currently no indications of a price rally. The price of Solana is currently ranging, though the current price is at $31.395.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get cryptocurrencies in your portfolio? Schedule a meeting with us here