Several analysts are closely watching Solana for signs of a trend reversal after an extended bear market. Traders like Decrypto Pharmacist are eyeing a potential inverse head and shoulders pattern that could propel Solana higher if it breaks key resistance levels.
Another prominent trader, David, tweeted that SOL will fly when it flips $22.48. Technical chartist Clifton notes Solana already broke out of a bullish flag pattern on the 4-hour timeframe, signaling upside momentum is building.
Providing an in-depth look, Altfins highlights how Solana recently rallied 20% after a falling wedge breakout, hitting resistance at the $25 level. With the cryptocurrency pulling back to test support around $20 and its 200-day moving average, this area marks a potential swing entry for traders betting on further upside.
Altfins sees Solana in an uptrend on short- and medium-term timeframes, with next resistance at $25–30, where bulls could target. Key support sits at $20 and $12 if the rally stalls.
At the time of writing, Solana is up over 6% as one of the top-performing major cryptocurrencies. While risks remain amid the bear market, analysts concur that there are encouraging signs of a trend change that could help Solana leave its recent lows behind. The coming weeks may determine if bullish momentum can be sustained.
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