We can see that solusd’s price action is now retesting the top trendline of this purple symmetrical triangle it has been in since around august of 2023. Obviously it only matters once we break above this trendline and flip that trendline to solidified support. Until that time one must remain levelheaded and not chase any breakout that is unconfirmed. If it were to trigger a breakout sometime within the next few days the target would be around $50 or slightly higher. The top trendline of this triangle also qualifies as an inverse head and shoulders neckline. We can also see that the measured move target for the breakout from the descending tan channel is above this neckline which increases the probability we will trigger the breakout of the purple triangle on the way up to hit the measured move target of the tan descending channel breakout. *not financial advice*
Comment:
Target hit!!