Solana (SOL) Gets Ready To Surge By 255% In 2022

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There are all kinds of optimistic predictions about the price of Solana (SOL) these days amidst the crypto price corrections. The latest ones are around the digital asset that’s competing with Ethereum.

SOL price could race in 2022

The crypto exchange Kraken said that Ethereum competitor and smart contract platform Solana (SOL) could be seeing a strong rally by early 2022.

In a recent report, Kraken says that Solana has been trading within a large bullish pattern dating as far back as 2020.

According to the crypto exchange, Solana’s corrective move from its ATH of around $260 puts the Ethereum challenger in a position to ignite the next leg of its bull cycle.

“The fourth-ranked crypto asset appears to be in the early innings of its fourth wave of ‘price discovery.’ Accordingly, it appears in the early innings of a fourth wave of price discovery, potentially continuing the trend along the wedge pattern.”

Kraken also said that SOL’s recent pullback can be viewed as a bullish signal and it could mean that SOL is getting ready for a massive rally that will be taking place during 2022.

“The bounce could be interpreted by many as not only just ‘bullish,’ but also a sign that a test of the wedge’s resistance could follow in the month(s) ahead.”

The report also explains why a long consolidation period is bullish for SOL.

“As with many other chart patterns, the longer it takes for SOL to trend higher while also retaining the wedge’s uptrending line as support, potentially the higher SOL could travel before ultimately cooling off and entering into a downtrend.”

At the moment of writing this article, SOL is trading in the red and the coin is priced at $166.27.

Despite the recent market corrections, there have been a lot of optimistic crypto predictions during the past few days.

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