Solana and Cardano Price Prediction 2022 are among the most prominent cryptocurrencies that have seen severe price drops. However, although most cryptocurrencies declined, a handful remained constant and even gained against the trend.
Let’s Take a Look at Solana and Cardano’s Technical Movement:
Solana Price Prediction 2022
The SOL/USD exchange rate closed at $91.784, having reached a high of $99.835, and a low of $80.919. SOL/USD fell on Monday and continued to fall, reaching its lowest level since August 2021, below $100. Another network congestion issue afflicted the blockchain network, coinciding with the overall crypto market slump.
Prices fell as a result of this. The Solana network experienced an overload over the weekend as a result of bots spamming the network. The congestion lasted about 30 hours, which was extremely alarming for investors. According to Solana’s official Twitter account, the blockchain was experiencing high levels of network congestion due to excessive duplicate transactions.
Solana is currently trading at $89 with a sell bias, disrupting support at $116. It is currently acting as a resistance level for SOL/USD. On the daily timeframe, the SOL/USD has room for a strong selling bias. The next level of support for SOL is at 80, which is extended by the low of August 26, 2021, at $100. As a result, taking a sell trade below $100 appears to be an excellent strategy. [wpdiscuz-feedback id=”k61dnnfdgl” question=”Please leave a feedback on this” opened=”0″][/wpdiscuz-feedback]
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Cardano Price Prediction 2022
This morning, ADA is concentrating on the monthly S1 support level as well as the historical $1.01 level dating back to March 05. When this bursts, there won’t be much support until $0.69, where monthly S2 support level kicks in at near $0.75, but by far the most significant historical level is at $0.69 from February 06. Expect buyers to enter, as this would mean that ADA price action is back at 0% on a year-to-date (YTD) basis.
Since the FED holds the keys to a short-term shift in sentiment, expect a surge to occur quickly. A knee-jerk reaction would wash out many short positions and return back price action to $1.40, the monthly pivot and the green elevated trend line. If the Fed’s message by Wednesday is very bullish and in favour of risk-on sentiment, look for a possible test of $1.68 to the upside this week.
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