Solana has continued to fluctuate between bullish and bearish momentum with no definite break in a particular direction. Amid this, there have been retests of both resistance and support levels with no outcome, and this has contributed to the formation of a head and shoulders pattern. With this development, the Solana price is now looking in one of two possible directions, both of which could carry major implications for investors of the altcoin.

Solana Head And Shoulders Pattern Could Trigger Rally

Crypto analyst Melikatrader pointed out that Solana has completed a Head and Shoulders formation on its 1-Day chart. This formation can go either way, but for Solana specifically and how the price has performed recently, it could point to a more bullish movement than a bearish one.

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