Solana’s inverse head and shoulders pattern signals potential bullish momentum ahead.
Key resistance at $202.74 could determine Solana’s upward price trajectory.
Sustaining support at $165 is crucial for maintaining bullish trend integrity.
Solana’s (SOL) price movements have captured market attention with an inverse head and shoulders pattern indicating potential bullish momentum, according to crypto analyst The Moon. This pattern, a widely recognized bullish reversal indicator, signals that buyers may be poised to push prices higher.
As at press time trading at $167.36 with a 24-hour trading volume of over $5 billion, Solana is showing signs of recovery despite a slight 2.48% dip. Key levels to watch, especially the neckline, suggest a promising path forward for traders if bullish momentum continues.
#Solana retested the Head and Shoulders pattern last night! As long as we stay above the neck line, the trend remains bullish!
$202,74 
pic.twitter.com/DfUYVxlIAK
— The Moon (@TheMoonCarl) October 26, 2024
Inverse Head and Shoulders Formation Signals Potential Reversal
An inverse head and shoulders pattern on the SOL/USDT pair shows distinct formati…
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