Conclusion
Solana price analysis for August 2, 2022, ends on a bearish note for SOL as chances of retesting $40 are very high.
Solana price analysis for August 2, 2022, comes on a bearish note for the SOL coin as we can confirm that the prices have dropped by nearly 1.5% in the last 24 hours and investors might see the token fall more. Additionally, the SOL token tried to make a move towards the $45 price level which seems to be a strong resistance zone for the price action but if reclaimed and turned into support, SOL might make a move towards $50 price level which will be make it just 50% low from $100 price level.
Furthermore, as noted in our SOL price analysis for August 1, 2022, there is a strong chance for Solana to retest the nearest support situated at the $40 price region while another major support is present at $30 which has held for long.
The data from CoinMarketCap shows that the trading volume for SOL dropped by 20.56% in the last 24 hours, followed by a 1.36% drop in the market cap. The Market Dominance of the Solana token dropped to 1.34%, while the Volume / Market Cap Ratio stands at 0.0741.
The daily candle for Solana was initiated at a price of $41.65 and reached a daily high of $42.11. Furthermore, the daily low for SOL was seen at $41.50, while the price of 1 SOL at the time of writing was $41.87.
Solana price analysis from the daily chart for August 2
Solana price analysis for August 2, 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 but we can expect a bearish divergence if Solana falls below $40.
The RSI indicator reads a value below 55 as bulls are on the verge of reclaiming dominance.
The price action for Solana is set to retest the middle region of the Bollinger Bands, a bearish indication.
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December 20, 2025
December 20, 2025
December 20, 2025
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