Solana dominance remains above 1% as bulls break $36

Solana price analysis for August 25, 2022, comes on a slightly bullish note for the SOL coin as we can confirm that the chances of the meme coin making higher highs are definitely high. Moreover, it is also important to note that the nearest resistance for the token stands at the $40 price level which will be retest very soon if the bulls remain in control  of the price action. It can be confirmed that the price of SOL surged by 2.91% in the last 24 hours and investors might see another surge in prices very soon.

Additionally, as noted in our SOL price analysis for August 24, 2022, the Solana coin might try to breach the $40 price level but it is possible that bears take over from that point onwards as it is a strong resistance.

The data from CoinMarketCap shows that the trading volume for SOL surged by 7.21% in the last 24 hours, followed by a 3.14% surge in the market cap. The Market Dominance of the Solana token surged to 1.20%, while the Volume / Market Cap Ratio stands 0.07259.

The daily candle for Solana was initiated at a price of $34.50 and reached a daily high of $36.05. Furthermore, the daily low for SOL was seen at $34.87, while the price of 1 SOL at the time of writing was $36.

Solana price analysis from the daily chart for August 25

Solana price analysis for August 25, 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 histogram for Solana remains bearish.

The RSI indicator reads a value below 42 which confirms that the Solana bears are still in control.

The price action for Solana is retesting the lower region of the Bollinger Bands as sellers try to dominate SOL price action.

Solana Price AnalysisSolana price prediction

Read More

All News

Cryptocurrency Price analysis and Prediction

January 25, 2025

MicroStrategy Issues $1.05B Note Redemption Amid Bitcoin Tax Debate

Cryptocurrency Price analysis and Prediction

January 25, 2025

Top New Meme Coins to Join for Short Term: BTFD Coin Woos Investors with 90% APY, BOME’s Trading Volume Jumps 26%, and Turbo Grows 20%

Cryptocurrency Price analysis and Prediction

January 25, 2025

Qubetics’ Multi-Chain Wallet, AAVE’s Lending Protocol, and Celestia’s Modular Blockchain Lead the Top Rated Crypto Projects