JAKARTA – Solana (SOL) has stolen the attention of many investors in recent months. Crypto which became one of the "Ethereum killers" is predicted to start 2022 brilliantly.
Crypto exchange Kraken recently revealed that SOL has been trading in a large bullish pattern since 2020. Kraken also explained that Solana has the potential to enter the next bullish phase after breaking its all-time high price (ATH) some time ago.
“The fourth-ranked crypto asset appears to be in the early stages of the fourth wave of 'price discovery'. As such, it appears in the early stages of the fourth wave of price discovery, potentially continuing the trend along a wedge pattern,” Kraken wrote.
In addition, the crypto exchange also revealed that Solana's recent pullback pattern is part of a bullish signal because backtesting of diagonal support could mean preparation for a bullish rally.
“The bounce could be interpreted by many as not only 'bullish', but also a sign that a test of wedge resistance may follow in the months to come.”
Reports from Kraken reveal that Solana has the potential to climb even higher in the near future. Currently SOL ranks as the 5th largest cryptocurrency by market capitalization. Solana managed to surpass XRP, USDC, and ADA.
As of writing, Solana's crypto price is trading at the level of Rp2,353,099. Data from Coingecko reports that SOL prices have decreased by 3.9 percent in the last 24 hours.
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