Solana inverted Head and Shoulder Pattern

In a bearish week, Solana inverted Head and Shoulder Pattern is strange and not strange. The pattern has appeared on the 2-hour chart as displayed below.

The Solana price today is $220.14 USD with a 24-hour trading volume of $3,547,348,210 USD. Solana is down 3.99% in the last 24 hours, with a live market cap of $66,874,732,164 USD. It has a circulating supply of 303,778,066 SOL coins.

Solana inverted Head and Shoulder Pattern
Source: TradingView

Solana inverted Head and Shoulder Pattern: Analysis

Left and right shoulders have their base at above $200 while the head found the support at $184 at fib 1.618. That makes almost 18%. So If Solana follows the trend it can rise to 18% at $262 and above. We have the breakout taken place already two green candles confirmation. There is a small pullback followed by but still, Solana signals a positive price rally to come soon.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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