Conclusion
Solana price analysis for August 21, 2022, ends on a bearish note for SOL with considerable chances of retesting $30.
Solana price analysis for August 21, 2022, comes on a bearish note for the SOL coin as we can confirm that the prices have dropped by 2.32% in the last 24 hours and additional price drop is also possible in the near future. Additionally, we can also expect the token to retest the $30 in the near future which would mark another price drop in double digits. Interestingly, the nearest resistance for the SOL token stands at the $40 price level which the token tried to turn into support on a number of occassions but failed to do so.
As noted in our SOL price analysis for August 20, 2022, the nearest support for the token is present at the $30 price level while a major resistance for Solana is present beyond the $45 price level which has been holding for a long time.
The data from CoinMarketCap shows that the trading volume for SOL dropped by 19.36% in the last 24 hours, followed by a 2.48% drop in the market cap. The Market Dominance of the Solana token dropped to 1.22%, while the Volume / Market Cap Ratio stands 0.09216.
The daily candle for Solana was initiated at a price of $35.28 and reached a daily high of $36.16. Furthermore, the daily low for SOL was seen at $34.51, while the price of 1 SOL at the time of writing was $35.84.
Solana price analysis from the daily chart for August 21
Solana price analysis for August 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 remains below the signal line and the histogram remains bearish as well.
The RSI indicator reads a value below 39 as the selling pressure for SOL remains very high.
The price action for Solana is retesting the lower region of the Bollinger Bands with considerable chances of a bearish breakout.
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December 18, 2025
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