Solana (SOL) price forecast for December 31, 2022

Legal warning: CoinMarketCap cryptocurrency community price prediction is based solely on votes from its users. Estimates do not guarantee month-end prices.

As a result of the carnage that the liquidity crisis in FTX has created in the cryptocurrency market, the price of Solana (SOL) has taken a significant hit as the asset is closely tied to the crypto exchange. Now that the market atmosphere has calmed down after the crash, traders and investors are trying to predict the future price of SOL.

Solana (SOL) price forecast for December 31, 2022

Based on data retrieved on Nov. 21, the aggregate estimate, which takes into account community votes through the Price Prediction tool on CoinMarketCap, puts the price of Solana at an average of $28.35 as of Dec. 31, 2022.

If the community’s predictions based on the 1,118 votes cast at press time come true, they would represent an increase of $16.35, or +137.39%, from the current price of $11.93.

Social SOL price forecast for December 30. Source: CoinMarketCap

Notably, in its end-October price predictions, the community had an accuracy rating of 87.10%, while Solana closed at $32.61.

Currently, Solana is trading at $11.94, down 8.52% in the last 24 hours and 13% lower than the previous week, with a total market cap of $4.3 billion.

Solana (SOL) price forecast for December 31, 2022 - Picture : 2

1 week SOL price. Source: Finbold

Fake crypto trading expert Altcoin Sherpa observed that Solana concludes that chart patterns indicate that the decentralized finance (DeFi) asset could drop as low as $3 if the level around $11.80 fails to hold.

“If these current spaces go down, IMO the next important space is $3. In the long run I think eliminating FTX/SBF is probably a net benefit for the ecosystem, but in the short run it’s still pretty disastrous.”

Solana (SOL) price forecast for December 31, 2022 - Picture : 3

SO price. Source: Altcoin Sherpa

Elsewhere, ZeroHedge noted:

“[SOL] It’s currently going through a downward compression break. When the Red Dots start below the Trail line, you don’t even think about touching it before it goes above the Trail line.”

Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.

Source: Teknolojioku Rss by

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