SOLUSDT.1D

Examining the SOL/USDT daily chart, Solana is presenting a bearish picture as well. The price has recently breached the first support level (S1) at $121.04, signaling a stronger bearish momentum. The next key support is at $92.78 (S2), and if the price continues to decline, we could see it being tested.

The resistance levels stand at $184.67 (R1) and $211.52 (R2), with the recent high marked at $210.18. For bulls to regain control, we would need to see a reversal with the price breaking above R1, supported by increased volume and bullish indicators.

The RSI is well below the 50 level, currently at 43.84, which typically indicates bearish sentiment. Moreover, the MACD histogram shows a negative trend, which aligns with the bearish sentiment on the chart.

If we observe a shift in the RSI upwards and the MACD histogram moving towards the baseline, it could suggest a potential reversal or consolidation before a further move. However, given the current indicators, traders might consider a cautious approach, watching for any signs of a trend reversal or confirmation of further declines. It's always important to stay updated with market news that could influence sentiment and price action in such a volatile market.

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