Conclusion
Solana price analysis for July 27, 2022, ends on a bearish note for SOL with high chances of retesting $30 price support.
Solana price analysis for July 27, 2022, comes on a bearish note for the SOL token but we can confirm that the chances of making higher highs in the longer run remain considerable. However, investors can expect SOL to drop further in the short term as the buying pressure for the coin remains very low and in the last 24 hours, we have seen the SOL token drop by almost 1.5% which means that bears are overall gaining advantage. The nearest resistance for the token stands at the $40 price level which was reclaimed but for a short duration.
As noted in our SOL price analysis for July 26, 2022, the Solana coin failed to retain prices above the $40 price level and as a result, dropped to the lower $30s which is an area of support for the token.
The data from CoinMarketCap shows that the trading volume for SOL dropped by 16.76% in the last 24 hours, followed by a 0.93% drop in the market cap. The Market Dominance of the Solana token rests at 1.28%, while the Volume / Market Cap Ratio stands at 0.09801.
The daily candle for Solana was initiated at a price of $36.26 and reached a daily high of $36.38. Furthermore, the daily low for SOL was seen at $35.75, while the price of 1 SOL at the time of writing was $35.82.
Solana price analysis from the daily chart for July 27
Solana price analysis for July 27, 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 very close while a bearish divergence has been confirm with MACD histogram turning bearish.
The RSI indicator reads a value below 45 which confirms that sellers are now in overall control.
The price action for Solana has into the bearish zone of the Bollinger Bands and we can expect the continual of the downtrend.
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December 18, 2025
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