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Solana (SOL) price prediction for 2022

Lawrence Peter “Yogi” Berra (May 12, 1925 – September 22, 2015), an American professional baseball catcher, once said, “It is difficult to make predictions, especially about the future.” Although I wholeheartedly agree with him, one can make relatively reliable and accurate predictions, in this case the cryptocurrency Solana (SOL). Predictions and predictions are both future-oriented processes. Prediction determines future events based on past and current data, that is, qualitative or quantitative methods, while predictions use arbitrary methods such as instincts and superstitions.

The Elliott Wave Principle (EWP) is based on past and current data and a defined set of price patterns that follow several rules. Hence, it is an informed, reliable, and accurate method of predicting the future Solana price highs and lows, and the paths that can be taken to achieve them.

Allow me to give you an example. At the beginning of October, see here, when SOL was trading at $ 160, I was looking for the crypto “… to get higher into the ideal target zone of $ 200 +/- 10”. And noted, “… SOL can even rebound to as high as $ 240 and still be in a complex 4th wave, and in this case it’s called an irregular flat.” Four weeks later, SOL was trading in the mid-range of US $ 220 Dollars, reaching up to $ 235. The plus of 30% + was achieved, from which my premium crypto trading members profited and benefited. I then found, see here, based on the EWP, “… drop back to ideally $ 185-200 and then recover to ~ $ 260 before setting up a deeper pullback again to $ 140-160.”

Although I didn’t get the pullback to $ 185-200 right (no forecasting method is 100% reliable and 100% accurate), SOL peaked at $ 259.96 on November 6, bottomed at 148 on December 13, $ 10 and is now trading at $ 174.90. See Figure 1 below. In addition, the (black) Major 5 rally is divided into five smaller waves (red, intermediate-i, ii, iii, iv and v), with waves-iii, iv and v reaching the ideal target zones (red boxes).

The story goes on

Figure 1. SOL Week Candlestick Charts with EWP Count and Technical Indicators.

Now that the EWP is reliable and accurate in predicting SOL price highs and lows as well as the forecast paths, the critical question is now: “What is next for 2022?”

SOL is now in a wider correction and should climb to $ 350 + when complete

The cryptocurrency should now be in a (blue) primary IV wave. See Figure 1 above. The fourth wave (black Major-4), which was one degree lower, reached its low point in September around the 50% retraction of the previous Major-3 wave. It is therefore logical to assume that Primary-IV will perform a similar retrace as Major-4. SOL has already reached the bottom in the upper part of the (blue) target zone box. So far, so good. But the fourth wave is often complex, with at least two waves deeper and a countertrend rally in between (a, b, c).

The rally to this week’s high at $ 204.79 could already be (black) major-b? Or it can try to put another leg higher to $ 220-240 before the next lower leg (wave-c) begins. The crypto will have to close above the 10-week Simple Moving Average (SMA) again to confirm this latter option as it is now resistance. A closing price below the 20-week SMA triggers a more direct downward push.

Therefore, the current price development and the price development for the next few weeks are ambiguous with the kind permission of the 4th wave. In either case, I expect SOL will bottom out at around $ 100-130 for primary wave IV before wave V takes off and ideally pushes the price to $ 350. Since primary level II lasted from August to December 2020, I expect that primary level IV will last a few more months before it will be completed in early 2022. Primary level V should then also last several months. After its end, later in 2022, SOL will then go through a longer bear market (think over a year). But right now the focus is on nailing Primary IV and setting the sails for Primary V.

Bottom line

The EWP is a nice, reliable, and accurate tool for predicting SOL’s price development, and my premium crypto trading members are betting well on my application. Based on the EWP, I’m assuming a primary IV wave is afoot which, after possibly a few more twists and turns, should ideally be around $ 100-130 in early 2022. From there, a rally lasting several months should ideally set itself to 350 USD to complete the bull run that began in July 2020. SOL needs to trade below $ 100 for several weeks in a row to indicate that the bull-top above has already been completed.

This article was originally published on FX Empire

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