๐ฎ SOLANA (SOL) TECHNICAL INSIGHT
Solana (SOL) is currently exhibiting a bullish inverse head and shoulders (IH&S) pattern on the daily chart, suggesting a potential trend reversal from bearish to bullis. ๎This pattern is characterized by three consecutive troughs, with the middle trough (the head) being the lowest and the two outside troughs (the shoulders) being higher and approximately equa. ๎The formation of this pattern indicates that the downtrend may be nearing its end, and an upward reversal could be imminent.
**๐ Support Zone:* ๎$114 โ $20๎
**๐ Resistance Zone** ๎$142 โ 148๎
๎Currently, SOL is trading near the resistance ae.๎ ๎A pullback towards the support zone could provide an opportunity for accumulation before a potential breaku.๎ ๎Traders should monitor the price action closely, as a confirmed breakout above the neckline of the IH&S pattern could signal the start of a new bullish trend.
*Note: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.*