Solana: Inverse Head and Shoulders Pattern Forms
@TATrader_Alan notes that the Solana ecosystem market cap has printed an inverse head and shoulders on the weekly chart and maintains a bullish stance on SOL.
SourceAnalysis
@TATrader_Alan flags an inverse head and shoulders formation on the SOL weekly chart for the Solana ecosystem market cap and states he remains bullish.
SOL trades at $104.7 on the four-hour chart inside a bearish structure where the EMA50 at $106.35 supplies nearby resistance and the EMA200 at $109.19 caps further gains. The RSI at 49.83 sits neutral while the MACD prints a bullish golden cross at -0.49. Price remains confined between the Bollinger lower band at $101.65 and upper band at $106.9, so a test of the upper band appears likely before any retracement toward the 50-EMA support.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.