Hi!
Solana is trading inside a well-defined descending channel, but momentum is shifting. Price has broken the inner descending trendline and is now forming a clear inverse Head & Shoulders at the bottom of the structure.
The neckline zone has been tested multiple times, showing growing buyer strength. As long as price holds above the right-shoulder support, the structure favors a bullish continuation.
A breakout above the neckline opens the way toward the upper boundary of the main descending channel, with the next key reaction zone near $155–160. Failure to hold the right shoulder would delay the reversal and pull the price back toward mid-channel support.
Solana is trading inside a well-defined descending channel, but momentum is shifting. Price has broken the inner descending trendline and is now forming a clear inverse Head & Shoulders at the bottom of the structure.
The neckline zone has been tested multiple times, showing growing buyer strength. As long as price holds above the right-shoulder support, the structure favors a bullish continuation.
A breakout above the neckline opens the way toward the upper boundary of the main descending channel, with the next key reaction zone near $155–160. Failure to hold the right shoulder would delay the reversal and pull the price back toward mid-channel support.
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Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
