Conclusion
Solana price analysis for August 27, 2022, ends on a bearish note for SOL with increased chances of losing $30.
Solana price analysis for August 27, 2022, comes on a bearish note for the SOL coin as we can confirm that the token has dropped by 9.05% in the last 24 hours and investors can expect additional price drops in the near future as well. Interestingly, if the bulls fail to push the prices into an uptrend, SOL investors might need to wait for higher prices in the near future. Additionally, the nearest support for the SOL token stands at the $30 price level which has been holding for a very long time and investors might witness SOL lose this region.
As noted in our SOL price analysis for August 26, 2022, the Solana token might attempt to retain the $30 price level but another crucial price zone is the $35 price level while in the long term, $40 price level is resistance.
The data from CoinMarketCap shows that the trading volume for SOL surged by 52.95% in the last 24 hours, followed by a 8.88% drop in the market cap. The Market Dominance of the Solana token dropped to 1.14%, while the Volume / Market Cap Ratio stands 0.1165.
The daily candle for Solana was initiated at a price of $31.72 and reached a daily high of $32.03. Furthermore, the daily low for SOL was seen at $31.52, while the price of 1 SOL at the time of writing was $31.92.
Solana price analysis from the daily chart for August 27
Solana price analysis for August 27, 2022, will take into account the data from the daily chart below and three major indicators integrated into it.
Source: TradingView
The MACD line remains below the signal line and they continue to move further apart from the SOL price action.
The RSI indicator reads a value below 33 which confirms that the Ethereum token might be entering oversold levels.
The price action for Solana is retesting the lower region of the Bollinger Bands and a bearish breakout is likely to occur.
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January 14, 2026
January 14, 2026
January 14, 2026
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