Conclusion
Solana price analysis for August 22, 2022, ends on a bearish note for SOL with increased chances of retesting $30.
Solana price analysis for August 22, 2022, comes on a bearish note for the SOL coin as we can confirm that overall, the entire price action of the coin is dominated by the bears since it is significantly down from its all-time high witnessed last year. However, there is a strong support at the $30 price level which has been holding for a very long time for the token and it seems that this situation might remain the same in the near future as well. It is expected that SOL might aim for $40 if prices remain above $35.
Also, as noted in our SOL price analysis for August 21, 2022, the Solana token has a strong resistance towards the $45 price level which SOL failed to retain above on a number of occassions. Meanwhile, the nearest support stands at the $30.
The data from CoinMarketCap shows that the trading volume for SOL dropped by 17.14% in the last 24 hours, followed by a 2.91% drop in the market cap. The Market Dominance of the Solana token rests at 1.22%, while the Volume / Market Cap Ratio stands 0.07719.
The daily candle for Solana was initiated at a price of $36.48 and reached a daily high of $36.54. Furthermore, the daily low for SOL was seen at $36.07, while the price of 1 SOL at the time of writing was $36.36.
Solana price analysis from the daily chart for August 22
Solana price analysis for August 22, 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 as the MACD histogram remains increasingly bearish.
The RSI indicator reads a value below 41 which confirms that the sellers remain in charge of the price trajectory of SOL.
The price action for Solana is retesting the lower region of the Bollinger Bands with increased chances of undergoing a bearish breakout.
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December 20, 2025
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