Solana price analysis for July 13, 2022, comes on a slightly bullish note for the SOL token as we can see that it has successfully reclaimed the $33 price region after dropping to $32 for a brief moment. It is clear that the price of the token surged by 1.47% in the last 24 hours and investors can expect SOL to make a move beyond the $36 price level. However, it seems that that there are also considerable chances of Solana retesting the nearest support in the near future.
As noted in our SOL price analysis for July 12, 2022, the SOL token has a major support below the $30 price level which the bears have failed to push Solana below. However, if the buying volume does not increase in the near future, investors can expect SOL to drop further in the coming days.
The data from CoinMarketCap shows that the trading volume for SOL surged by 6.76% in the last 24 hours, followed by a 1.28% surge in the market cap. The Market Dominance of the Solana token rests at 1.32%, while the Volume / Market Cap Ratio stands at 0.08146.
The daily candle for Solana was initiated at a price of $32.69 and reached a daily high of $34.22. Furthermore, the daily low for SOL was seen at $32.38, while the price of 1 SOL at the time of writing was $33.38.
Solana price analysis for July 13, 2022, will take into account the data from the daily chart below and three major indicators integrated into it.
Source: TradingView
The MACD line and the signal line are nearly overlapping and investors can expect a bearish divergence soon.
The RSI indicator for Solana reads a value below 44 which means that buyers are still fighting for dominance.
The price action for Solana is situated in the lower end of the Bollinger Bands and a bearish breakout is possible.
Solana price analysis for July 13, 2022, ends on a sluggish note for SOL with considerable chances of retesting $30.
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