Solana

Solana FAQs

• 1. What determines the price of Solana?

  There are two schools of thought in determining the price of Solana.
  
  By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Solana, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Solana from a long term perspective.
  
  By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Solana on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Solana as well.
  
  HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Solana and the cryptocurrency market as a whole.
• 2. What is the highest price of Solana in history?

  Solana achieved the all-time high of $259.96 in 2021-11-06, and is currently trading at $18.81.
• 3. What is the lowest price of Solana in history?

  In 2020-05-11, Solana reached the all-time low of $0.50.
• 4. Should I buy Solana now?

  It is important to remember that Solana, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.