Last Updated on 1 hour by cryptoevent

Solana Crypto has taken quite a hit today from the recent upheaval in the overall blockchain market. Bitcoin was heading for a breakdown as it lost support from a bearish reversal pattern known as the rising wedge.

As a result, Solana (SOL) crypto lost support of a long-term ascending channel in which it was trading. The price structure was lost and the bullish thesis became obsolete.

According to Coinmarketcap, Solana is down 11.6% in the last 24 hours and is trading at $36.5. Solana crypto is available on bybit.

Cryptoassets are a highly volatile unregulated investment product.

Solana (SOL) crypto price prediction 2022

For the past eight weeks, Solana (SOL) crypto had been gaining bullish price momentum, teasing that it could reach $50 price levels soon.

Today a critical support level of $39.5 had been lost due to the crypto crash and unfortunately, Solana (SOL) has seen a bearish price action.

Solana (SOL) must now attempt to consolidate at the current price level and retest $39.5 as resistance, if rejected we could see further continuation down. The next major support level for Solana crypto would be $32.4.

From a technical analysis perspective, Solana (SOL) crypto is now oversold on the 4-hour timeframe and is printing a green candle at this moment.

High-risk traders who like to capitalize on extreme fears in the market could benefit from long positions at current price levels.

Sol/Usdt – Daily time frame.

As we can see, Solana (SOL) crypto is now oversold on the relative strength index. So far, every time Solana has been oversold on the RSI over the past 8 weeks, the price has rallied and rallied. Will history repeat itself?

Solana (SOL) video analytics

Solana (SOL) currently has a market capitalization of $12.7 billion, according to Coinmarketcap. While short term returns could be quite suppressed due to the crypto bear market.

Alternatives to Solana? (SOL)

Solana has performed brilliantly over the past few weeks, but it looks like it’s just going to run out of steam as we delve deeper into the crypto bear market. Being in a crypto bear market means we are moving further and further into a downtrend. I think it’s very unlikely that we’ll see all-time highs for Solana anytime soon.

There are other strong prospects in the crypto market right now that could do better than Solana. Following my own market research and due diligence, there is a new exciting meme coin called Tamadoge which could explode beyond 10x by public sale.

Tamadoge (TAMA) is a unique, fun and enticing new pay-as-you-go play-to-earn meme coin that is deflationary and tax-free with a tiny max supply of just 2 billion coins. Tamadoge stands out from other meme coins because it also involves NFTs and virtual reality for players to immerse themselves in.

So far, the Tamadoge (TAMA) pre-sale is doing exceptionally well, raising $5,620,496 in just over three weeks. This particular pre-sale is capped at $19 million and public sales should begin in Q4 2022.

Holders can purchase Tamadoge (TAMA) at buy.tamadoge.io either with Ethereum, USDT or fiat currencies. In my opinion, crypto pre-sales can be a great way to capitalize on additional crypto during a bear market. While other cryptocurrencies are trading sideways or down, successful pre-sales stand the chance of a 10-100x parabolic rally. A recent example is the newly launched Battle Infinity token, which is up over 700% from its pre-sale price.

Based on Tamadoge’s solid foundations and the hype surrounding this project, I’m speculating that this could be one of the next top 10 meme coins.

Related

• How to Buy Tamadoge – Beginner’s Guide
• 12 Best Cryptocurrency to Invest in 2022
• How to Buy Solana in the UK

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