SONM (SNM) Price Prediction 2022 — Will SNM Hit $3 Soon?
- Bullish SNM price prediction is $3.1759 to $14.2252.
- SONM (SNM) price might also reach $3 soon.
- Bearish SNM price prediction for 2022 is $0.5398.
In SONM (SNM) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about SNM to analyze the future movement of the cryptocurrency.
SONM (SNM) Current Market Status
According to CoinGecko, the price of SONM (SNM) is $1.02 with a 24-hour trading volume of $83,026,439 at the time of writing. However, SNM has decreased by nearly 22.9% in the last 24 hours.
Moreover, SONM (SNM) has a circulating supply of 44,400,000 SNM. Currently, SONM (SNM) trades in cryptocurrency exchanges such as Binance, Bitget, Bibox.
What is SONM (SNM)?
SNM Token is the native cryptocurrency of the SONM platform. SONM is a decentralized fog computing platform. The SONM architecture comprises Ethereum smart contracts. Traders get access to the SONM platform’s resources by using the SNM token. Trading participants in the self-sustaining SONM market can trade computing resources via SNM.
SONM (SNM) Price Prediction 2022
SONM (SNM) holds the 316th position on CoinGecko right now. SNM price prediction 2022 is explained below with a daily time frame.
The above chart of SONM (SNM) laid out a Rounding Bottom pattern. The price movements form a pattern that resembles a bow and hence is also known as the saucer bottom pattern. In general, the rounding bottom pattern indicates a long-term price reversal. This pattern also emphasizes the changes in the market sentiment as the trend seems to shift from bearish to bullish. Investors generally have to stay cautious and time the market well. If the price breaks and moves past the resistance level, it will enter a confirmed bullish trajectory.
Currently, SONM (SNM) is in the range of $1.5002 If the pattern continues, the price of SNM might reach the resistance levels of $2.4172, $8.8639 and $29.2948. If the trend reverses, then the price of SNM may fall to $1.1676.
SONM (SNM) Support and Resistance Levels
The chart below shows the support and resistance levels of SONM (SNM).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for SONM (SNM).
| Resistance Level 1 | $3.1759 |
| Resistance Level 2 | $6.1375 |
| Resistance Level 3 | $14.2252 |
| Support Level 1 | $1.3859 |
| Support Level 2 | $0.5398 |
The charts show that SONM (SNM) has performed a bullish trend over the past month. If this trend continues, SNM might run along with the bulls overtaking its resistance level at$14.2252
Accordingly, if the investors turn against crypto, the price of SONM (SNM) might plummet to almost $0.5398, a bearish signal.
SONM (SNM) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of SONM (SNM) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of SNM lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of SONM (SNM) is shown in the chart above. Notably, SONM (SNM) price lies above 50 MA (short-term), so it is in an uptrend. Currently, SNM has entered a bullish state. Therefore, there is a possibility of a reversal trend of SNM at any time.
Meanwhile, the relative strength index (RSI) of the SNM is 45.12. This means that SONM (SNM) is in an oversold state. However, this means a major price reversal of SNM may occur in the upcoming days. So, traders need to trade carefully.
SONM (SNM) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of SONM (SNM). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of SONM (SNM). Currently, the ADX of SNM lies in the range of 71.1891 and thus, it indicates a very strong trend.
The above chart also represents the Relative Volatility Index (RVI) of SONM (SNM). RVI measures the constant deviation of price changes over a period of time. The RVI of SNM lies below 50, indicating low volatility. In fact, the RSI of SONM (SNM) is at 45.12 thus confirming a potential buy signal.
Comparison of SNM with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and SONM (SNM).
From the above chart, we can interpret that the price actions SNM is a dissimilar trend with respect to BTC and ETH. This indicates that when the price of BTC and ETH increases , the price of SNM decreases. And when the price of BTC and ETH decreases, the price of SNM increases.
SONM (SNM) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, SONM (SNM) might probably attain $5 by 2023.
SONM (SNM) Price Prediction 2024
With several upgrades in the network, SONM (SNM) might enter a bullish trajectory. If the coin grabs the attention of major investors, SNM might rally to hit $8 by 2024.
SONM (SNM) Price Prediction 2025
If SONM (SNM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, SNM would rally to hit $11
SONM (SNM) Price Prediction 2026
If SONM (SNM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, SNM would rally to hit $14
SONM (SNM) Price Prediction 2027
If SONM (SNM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, SNM would rally to hit $17
SONM (SNM) Price Prediction 2028
If SONM (SNM) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, SNM would hit $20 in 2028.
SONM (SNM) Price Prediction 2029
If investors flock in and continue to place their bets on SONM (SNM), it would witness major spikes. SNM might hit $23 by 2029.
SONM (SNM) Price Prediction 2030
With greater advancements in the SONMecosystem, the crypto community might continue to invest in SNM for the next 8 years and drive significant price rallies for the token. Hence, SONM (SNM) might hit $ 26 by 2030.
Conclusion
With continuous improvements in the SONM network, we can say that 2022 is a good year for SNM. For this reason, the bullish price prediction of SONM (SNM) in 2022 is $14.2252. On the other hand, the bearish price prediction of SONM (SNM) price prediction for 2022 is $0.5398.
Furthermore, with the advancements and upgrades to the SONM ecosystem, the performance of SNM would help to reach above its current all-time high (ATH) of $10.91 very soon. But, it might also reach $3 if the investors believe that SNM is a good investment in 2022.
FAQ
SNM Token is the native cryptocurrency of the SONM platform. Traders get access to the SONM platform’s resources by using the SNM token. Trading participants in the self-sustaining SONM market can trade computing resources via SNM.
SONM (SNM) has been listed on many crypto exchanges which include Binance, Bitget, Bibox.
With the ongoing developments and upgrades within the SONM platform, SNM has a high possibility of reaching its ATH soon.
On November 20, 2022, SONM (SNM) reached its new all-time high (ATH) of $10.91.
SONM (SNM) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of SONM in the past few months, SNM is considered a good investment in 2022.
SONM (SNM) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then SONM (SNM) will hit $3 soon.
SONM (SNM) price is expected to reach $5 by 2023.
SONM (SNM) price is expected to reach $8 by 2024.
SONM (SNM) price is expected to reach $11 by 2025.
SONM (SNM) price is expected to reach $14 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Recommended For You
Read more: https://thenewscrypto.com/sonm-snm-price-prediction-2022-will-snm-hit-3-soon/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
