$SOL Solana (SOL) is currently in the spotlight among traders after forming a Head and Shoulders pattern on the daily chart. This technical pattern, which usually signals significant price movements, is expected to potentially trigger a rally towards the $219 level if bullish momentum continues.

Head and Shoulders Pattern Signals Bullish

According to Bitcoinist, crypto analyst Melikatrader observed that the Head and Shoulders formation on the Solana chart is complete, consisting of a left shoulder, head, and right shoulder. Currently, the price movement is approaching the neckline, which is the determining level for the next direction.

According to the analyst, the neckline was briefly breached when the price fell below $160. However, if SOL can reclaim this level, an upward trend could potentially begin again with an initial target around $200.

"Based on the pattern and technical analysis, the potential target could be around $219.84," explained Melikatrader. This target aligns with the continuation of the upward trend from the breached neckline.#solana