Urgent! Massive Inverse Head and Shoulders Pattern Playing Out On Solana. As The Bull Run Started?
The Inverse Head and Shoulders Pattern is a high quality reversal strategy used by pro traders to determine the potential start of a bullish trend in an asset.
For Solana, this pattern could indicate the end of the almost 2 years sell-off we have been witnessing on the Altcoin. In this Altcoin analysis, we will be breaking down the key levels we are currently watching as well as the possible price scenarios we can be expecting.
Solana Inverse Head and Shoulders Pattern
This key pattern is forming after years of bearish trend in the Solana price, and it indicates that there is a very high probability that we are about to see a massive Solana bull run begin in the coming days.
In the coming weeks, we expect to see more buyers begin to pour into the market, increasing the Solana bullish momentum and pushing the Altcoin price higher. There is a very high probability that we might see the Altcoin price rally back up to the $100 value region again soon!
So for now, we are very bullish on the Solana price action and will continue to remain bullish as far as the Inverse Head and Shoulders Pattern playing out on the Daily timeframe remains valid!
Key Levels To Watch Out For On Solana
One of the most important key zone to keep an eye on is the $51.05 price level. We have seen this price level serve as a major resistance in the past and now, it is currently serving as support.
This $51.05 key support region also serves as the Neckline level of the Inverse Head and Shoulders Pattern we are currently tracking on the Daily timeframe. This makes this price level very important for the Solana bulls and in the coming days, we will be expecting to see more buyers step in to defend it.
A break below it could see us having a deeper retracement in the Solana Price before the bullish rally continues.
New to the idea of leverage trading? Check out this article list:
- A Beginners Guide to Crypto Leverage Trading
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