$SOL
SOL/USDT ā Inverse Head & Shoulders Forming: Bullish Reversal in Play š
Key Technical Details
Inverse Head and Shoulders (H&S) Pattern:
Clearly labeled: S - H - S (Shoulder - Head - Shoulder).
This is typically a bullish reversal pattern, often seen at the bottom of a downtrend.
Suggests a potential trend change from bearish to bullish.
OB (Order Block):
Marked near the right shoulder and neckline area.
This is likely a bullish order block, where institutional buying might have occurred before a previous rally.
Price may return here for a retest before moving higher.
Support Zone (Blue-Green Box):
This demand zone is where the pattern formed.
Price respected this area multiple times, strengthening its significance.
Projected Move:
An upward arrow from the neckline suggests a bullish breakout expectation toward ~$180ā$190.
š” Potential Strategy:
Breakout & Retest Entry:
Wait for price to break above the neckline.
Enter on a retest of the neckline/OB zone (~$120ā$125 area).
Targets:
First target: around $150
Second target: around $180ā$190
Invalidation:
A daily close below the head level (~$110) may invalidate the pattern.
