Well-known crypto analyst Omkar Godbolev published an analytical article indicating that the SOL price chart shows a bullish reversal pattern. According to technical analysis theory, this pattern is seen as a low-risk opportunity for trend breakout traders. The SOL price surged over 7% this week to $193, rebounding from a previous resistance level identified by a trend line connecting the highs of March and July, now turned support. This line, along with the line connecting the lows of April and August, defines a large descending channel encompassing long-term fluctuations from March to October. The SOL price broke out of this channel in early November, confirming the bullish tendency. SOL quickly climbed above $260, then retraced to the breakout point last week, which technical analysts refer to as a bullish reversal pattern. Similar reversal patterns perfectly manifested in Bitcoin in the second half of 2023, laying the groundwork for a massive bull market. (CoinDesk)