Conclusion
Solana price analysis for August 12, 2022, ends on a bearish note for SOL with high chances of retesting $40.
Solana price analysis for August 12, 2022, comes on a slightly bearish note for the SOL coin as it is clear that the coin has dropped by almost 2.2% in the last 24 hours and investors can expect the token drop more to the $40 price level which is the nearest minor support for the cryptocurrency. However, it will be interesting to see if the SOL bulls have what it takes to hold prices above $40 as there is another strong support towards the $30 price level which can be retested if the market undergoes another correction.
Moreover, as noted in our SOL price analysis for August 11, 2022, the Solana coin has a strong support at the $30 price level which can be expected to hold for long if the bulls remain in control of the price trajectory of the token.
The data from CoinMarketCap shows that the trading volume for SOL dropped by 25.97% in the last 24 hours, followed by a 2.28% drop in the market cap. The Market Dominance of the Solana token dropped to 1.32%, while the Volume / Market Cap Ratio stands at 0.08695.
The daily candle for Solana was initiated at a price of $42.78 and reached a daily high of $43.66. Furthermore, the daily low for SOL was seen at $42.21, while the price of 1 SOL at the time of writing was $43.28.
Solana price analysis from the daily chart for August 12
Solana price analysis for August 12, 2022, will take into account the data from the daily chart below and three major indicators integrated into.
Source: TradingView
The MACD line is overlapping with the signal line but the histogram for Solana remains green.
The RSI indicator reads a value below 58 which confirms that bears are still fighting but the bulls are overall in control.
The price action for Solana is retesting the upper region of the Bollinger Bands and volatility can be expected.
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December 18, 2025
December 18, 2025
December 18, 2025
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