🚀 Head & Shoulders Point to Solana’s Move Toward $249 Breakout

Solana has been fluctuating between bullish and bearish momentum without establishing a clear trend. Tests of key support and resistance haven’t yielded a decisive move, resulting in a head and shoulders formation. This pattern signals two possible directions for Solana’s price, impacting crypto investors accordingly.

While the pattern can swing either way, recent price action favors a bullish breakout. The neckline acts as a crucial price level after forming the head and shoulders. Following a dip below $160, this neckline was broken, and now Solana may attempt to reclaim it. If successful, this could trigger a rally pushing the price toward $200.

Moreover, the trendline indicates an upward trajectory, with repeated higher lows signaling strength despite mixed market sentiment. This supports the likelihood of continued upside momentum.

Experts believe the head and shoulders pattern combined with the broken neckline signals a bullish run, targeting approximately $249 if the momentum sustains. Otherwise, the price could decline.

“According to the technical setup, the next price objective lies near $249, as highlighted by the box in the chart’s upper right corner,” the analyst explained. This projection follows the breakout from the neckline.

On the flip side, if Solana fails to hold above the neckline, a bearish reversal could drive the price down to find stronger support levels. In that case, $136.34 stands out as a key support zone offering a solid entry point for buyers.

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