Technical analysis by Renata-1 about Symbol SOL: Sell recommendation (8/19/2024)

News related to the Solana ecosystem and the global cryptocurrency market will strongly impact SOLUSD prices.SOLUSDT is currently in a consolidation phase after a sharp decline, with prices fluctuating around $140 - $150.The MACD is below the signal line, indicating the downtrend persists. However, a narrowing histogram may signal a weakening downtrend and the potential for a short-term reversal.If the price fails to break through resistance and reverses, it may correct down to the $120 support level.