Solana about to lose $30 as prices crash by a whopping 10%

Solana price analysis
Source: TradingView

Solana price analysis for June 30, 2022, comes on a bearish note for the SOL token as there are chances of SOL losing the $30 price region in the near future which is a major support for the price action. If the token is able to retain this price support, we can still expect SOL to make higher highs. However, if it fails to do so, we might see SOL below $30 in the near future. As noted in our SOL price analysis for June 29, 2022, the token tried to retain $40 but failed to do so and as a result, formed a series of bearish candles.

The data from CoinMarketCap shows that the trading volume for SOL surged by 0.08% in the last 24 hours, followed by a 9.23% drop in the market cap. The Market Dominance of the Solana token dropped to 1.26%, while the Volume / Market Cap Ratio stands at 0.1305.

The daily candle for Solana was initiated at a price of $34.06 and reached a daily high of $34.20. Furthermore, the daily low for SOL was seen at $31.21, while the price of 1 SOL at the time of writing was $31.81. 

Solana price analysis from the daily chart for June 30

Solana price analysis for June 30, 2022, will take into account the data from the daily chart below and 3 major indicators integrated into it.

Solana price analysis
Source: TradingView

The MACD indicator shows that the MACD line is very close to the signal line and bearish divergence can be seen in the coming days.

The RSI indicator for Solana reads a value below 40 which means that the SOL downtrend will continue in the near future.

The price action for Solana has dropped to the lower zone of the Bollinger Bands which means that the sellers are currently in charge of the price action.


Solana price analysis for June 30, 2022, ends on a bearish note for SOL with considerable chances of losing $30.