$SOL #Solana Let’s analyze the pattern on the SOL/USDT daily chart you provided:

1️⃣ Overall Trend:

The chart shows that the price was initially in a downtrend, reaching a low of 95.26.

After hitting this bottom, SOL entered a strong uptrend, rallying up to 187.71.

Post 187.71, the price started to correct, leading to a retracement.

2️⃣ Key Levels:

Support:

95.26 (major swing low, strong support).

Around 131.32 (recent support area visible).

110.98 (intermediate support zone).

Resistance:

187.71 (recent swing high).

171.99 (previous minor resistance level before the final high).

Current price: 152.39 — sitting between support and resistance.

3️⃣ Pattern Analysis:

Double Top Formation (Potential):

The highs near 187.71 may suggest a potential double top if price fails to retest or break above it.

Descending Channel / Flag (Possible):

The recent correction appears to form lower highs and lower lows, potentially a descending channel or flag pattern.

Higher Low Formation:

The price seems to be attempting to form a higher low after the drop — if confirmed, this can be bullish.

4️⃣ Possible Scenarios:

Bullish Case:

If the price holds above 131.32 and breaks above 171.99, a retest of 187.71 becomes likely.

Breakout above 187.71 may lead to continuation of the previous uptrend.

Bearish Case:

If the price loses 131.32 support, it may retest 110.98 or even 95.26.

Failure to hold higher lows may increase selling pressure.

5️⃣ Market Psychology:

Current consolidation suggests indecision between bulls and bears.

Volume and momentum indicators (which are not shown in this chart) would help confirm the breakout direction.

If you want, I can also:

Do a more advanced technical analysis (e.g. Fibonacci levels, trendlines, RSI, MACD analysis if you provide those).

Generate a short-term trading plan.

Simulate possible breakout targets.

👉 Just let me know which you'd like.