SOLUSD forms positive dynamics after a strong bearish decline correlated with the whole cryptocurrency market. During the week, the price recovered by 36%.
A descending triangle is forming on the chart and after a false breakdown of the limit support level 12.38, the price tends to resistance. A pre-breakdown consolidation is forming, which clearly points us to the "Symmetrical Triangle" pattern, which interprets the situation as a possible continuation of the movement.
The local triangle pattern is formed on the resistance of the global pattern, but at the moment we are seeing a breakdown of the local pattern and a consolidation of the price in the long zone. If the bulls manage to hold the position, we might see a strong rally and a break-up of 14.83 and a move towards us. Short-term target is resistance at 16.45. Medium-term target - liquidity zone 18.24