Solana price analysis for July 14, 2022, comes on a slightly bullish note for the token as we can confirm that it has a major support towards the $30 price level and in the last 24 hours, the price of the token surged 4.7% and it seems that this support region retains for now. Interestingly, we can expect the SOL token make higher highs in the coming future if it reclaims $40 and makes a move for $50 and after breaking above $50, it aims for higher highs. If such a scenario occurs, we might see SOL continue on a bullish road.
As noted in our SOL price analysis for July 13, 2022, there are increased chances of the Solana token retesting the $30 price level and losing it since it hasn’t been able to reclaim the $40 price region after multiple retests.
The data from CoinMarketCap shows that the trading volume for SOL surged by 42.19% in the last 24 hours, followed by a 0.18% drop in the market cap. The Market Dominance of the Solana token rose to 1.33%, while the Volume / Market Cap Ratio stands at 0.1152.
The daily candle for Solana was initiated at a price of $34.94 and reached a daily high of $35.33. Furthermore, the daily low for SOL was seen at $33.58, while the price of 1 SOL at the time of writing was $34.05.
Solana price analysis for July 14, 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 investors can expect a bearish divergence soon.
The RSI indicator for Solana reads a value below 45 which means that bulls are still fighting for control.
The price action for Solana is aiming to retest the middle zone of the Bollinger Bands but rests in the bearish region for now
Solana price analysis for July 14, 2022, ends on a sluggish note for SOL with considerable chances of retesting $30.
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