Conclusion
Solana price analysis for July 21, 2022, ends on a bearish note for SOL with high chances of retaining $40.
Solana price analysis for July 21, 2022, comes on a bearish note for the SOL token as we can confirm that it has dropped by more than 10% in the last 24 hours and investors can expect another price drop as well if the $40 price region doesn’t hold. Furthermore, we can also confirm that SOL is currently retesting the $40 and if this holds, a new minor support will be formed here which can be used to begin trades. However, it is advised to stay cautious as the market remains unpredictable in the current scenario.
As noted in our SOL price analysis for July 20, 2022, the token has a strong resistance at the $50 price region which the previous resistance at $40 has been breached. If $40 fails to hold, then the nearest resistance for Solana is present at the $30 price level.
The data from CoinMarketCap shows that the trading volume for SOL surged by 1.28% in the last 24 hours, followed by a 10.04% drop in the market cap. The Market Dominance of the Solana token rests at 1.38%, while the Volume / Market Cap Ratio stands at 0.1539.
The daily candle for Solana was initiated at a price of $42.03 and reached a daily high of $42.47. Furthermore, the daily low for SOL was seen at $39.64, while the price of 1 SOL at the time of writing was $40.90.
Solana price analysis from the daily chart for July 21
Solana price analysis for July 21, 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 the bullish intensity of the MACD histogram continues to decrease.
The RSI indicator for Solana reads a value below 56 which means that buyers are losing their edge.
The price action for Solana is situated in the bullish region of the Bollinger Bands but a retest of the middle zone is likely.
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December 18, 2025
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