SOL is doing an HS.
What is an HS?
Head and shoulders pattern
What is a head and shoulders pattern?
A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, the outer two being close in height and the middle being the tallest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a reversal from bullish to bearish trend.
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several major patterns that indicate, with varying degrees of accuracy, that an uptrend is coming to an end.
What does a head and shoulders pattern tell you?
A head and shoulders pattern is made up of three parts:
After long uptrends, the price rises to a peak and then declines to form a low.
The price rises again to form a second high substantially above the initial peak and falls again.
The price rises a third time, but only to the level of the first peak, before falling again.
The first and third peaks are shoulders and the second peak forms the head. The line connecting the first and second channel is called the neckline.
If the HS does not break the neckline, it may mean it is going to the upside. It should break the neckline.
Exchange SOLUSDT 30m Binance
Price: 31.66| 31.70| 32.36
Vol: 68,319| 76,495| 74,973
ATR: 0.8012
❌OBV: -2.4 M| -2.3 M| -2.2 M
⚪️RSI: 53.31| 53.69| 59.68
⚪️MFI: 51.28| 56.01| 61.62
⚪️CCI: 13.30| 54.73| 88.91
❌WR%: -69.08| -68.65| -4.31
❌ADX: 13.53| 14.39| 14.83
⚪️MOM: No Momentum
✅SMA: Price is Above SMA Bullish
❌ADI: -DI > +DI Bearish
✅MACD: Bullish
❌PSAR: Bearish
Support And Resistance
S: $29.311
S: $30.261
S: $31.250
R: $32.358
Volatility is moderately low
EXPERIMENTAL 🧪
⚪️RSI:No divergences
🐂MFI: Bullish divergence
⚪️FVE: No divergence
🐻Volume: Bearish Volume Trend
What is an HS?
Head and shoulders pattern
What is a head and shoulders pattern?
A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, the outer two being close in height and the middle being the tallest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a reversal from bullish to bearish trend.
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several major patterns that indicate, with varying degrees of accuracy, that an uptrend is coming to an end.
What does a head and shoulders pattern tell you?
A head and shoulders pattern is made up of three parts:
After long uptrends, the price rises to a peak and then declines to form a low.
The price rises again to form a second high substantially above the initial peak and falls again.
The price rises a third time, but only to the level of the first peak, before falling again.
The first and third peaks are shoulders and the second peak forms the head. The line connecting the first and second channel is called the neckline.
If the HS does not break the neckline, it may mean it is going to the upside. It should break the neckline.
Exchange SOLUSDT 30m Binance
Price: 31.66| 31.70| 32.36
Vol: 68,319| 76,495| 74,973
ATR: 0.8012
❌OBV: -2.4 M| -2.3 M| -2.2 M
⚪️RSI: 53.31| 53.69| 59.68
⚪️MFI: 51.28| 56.01| 61.62
⚪️CCI: 13.30| 54.73| 88.91
❌WR%: -69.08| -68.65| -4.31
❌ADX: 13.53| 14.39| 14.83
⚪️MOM: No Momentum
✅SMA: Price is Above SMA Bullish
❌ADI: -DI > +DI Bearish
✅MACD: Bullish
❌PSAR: Bearish
Support And Resistance
S: $29.311
S: $30.261
S: $31.250
R: $32.358
Volatility is moderately low
EXPERIMENTAL 🧪
⚪️RSI:No divergences
🐂MFI: Bullish divergence
⚪️FVE: No divergence
🐻Volume: Bearish Volume Trend