SOLUSDT Rectangle Pattern Formation

2024年8月22日

SOLUSDT Technical analysis update

SOL has been forming a rectangle pattern for the last 170 days. The price is now approaching the rectangle's resistance, indicating a potential breakout. If the breakout occurs, we can expect a strong bullish move in SOL, with the price possibly reaching $500 in this bull run.
In day chart 200 EMA act as a good support for SOL

A similar pattern formed at the bottom, where the price stayed within a rectangle for 280 days before breaking the resistance and surging 600%. We could see a similar move once the current rectangle is broken.

Regards
Hexa

2024年8月24日

注释

SOLUSDT price moving toward the rectangle pattern resistance for the breakout.