In today’s technical outlook, we observe a bullish reversal pattern on the SOL/USDT daily chart — the Inverse Head and Shoulders. This classical formation suggests a strong potential for an upward trend continuation, especially after breaking above the neckline.
🔸 Pattern Identified: Inverse Head and Shoulders
🔸 Entry Point: 167.77 USDT – near the neckline breakout, confirming bullish sentiment
🔸 Stop Loss: 139.69 USDT – placed below the right shoulder for prudent risk control
🔸 Take Profit Targets:
• TP1: 208.26 USDT – aligns with previous resistance zone
• TP2: 252.47 USDT – a projected target based on the measured move from the neckline
📉 RSI Divergence Indicator currently sits at 58.59, indicating moderate bullish momentum. Several bullish divergences observed in March and April supported upward movement, while the recent minor bearish divergence warns of possible short-term consolidation before continuation.
The chart shows a clear neckline breakout with strong upward trajectory, validating the bullish structure. Entry at this level offers a favorable risk-to-reward ratio for swing traders targeting mid- to long-term price appreciation.
📌 Strategy Summary:
This setup provides an opportunity to enter on confirmed breakout with tight risk control and clear upside targets. Traders may consider entering near 167.77, with a stop loss at 139.69 and taking profits progressively at 208 and 252 levels.