Solana price analysis for June 26, 2022, comes on a slightly bearish note for the token as the chances of the SOL coin turning bullish in the coming days remain considerably high if the $40 price level is turned into a support region. Additionally, as noted in our SOL price analysis for June 25, 2022, there are considerable chances of the SOL coin remaining bullish in the short term if prices remain above $40. The token was able to reclaim this price level after a rebound from the $37 price level which indicates that SOL bulls haven’t given up.
The data from CoinMarketCap shows that the trading volume for SOL dropped by 31.93% in the last 24 hours, followed by a 2.02% surge in the market cap. The Market Dominance of the Solana token dropped to 1.47%, while the Volume / Market Cap Ratio stands at 0.08131.
The daily candle for Solana was initiated at a price of $42.22 and reached a daily high of $42.49. Furthermore, the daily low for SOL was seen at $40.70, while the price of 1 SOL at the time of writing was $41.42.
Solana price analysis from the daily chart for June 26
Solana price analysis for June 26, 2022, will take into account the data from the daily chart below and 3 major indicators integrated into it.
Source: TradingView
The MACD indicator shows that the MACD line remains above the signal line and looking at this indicator, it is clear that higher prices might follow.
The RSI indicator for Solana reads a value below 54 while the gradient of the line suggests that sluggish movement will follow in the near future.
The price action for Solana broke into the bullish zone of the Bollinger Bands and a bullish break out might follow soon.
Conclusion
Solana price analysis for June 26, 2022, ends on a bullish note for SOL with high chances of retaining the $40 price region as support.
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