In July this year, SOL experienced a round of increases, reaching a high point at 33.010. By using 33.010 and 12.680 as the high and low points for the Fibonacci retracement, it can be observed that SOL formed an inverse H&S at the 0.25 (17.763) level of the sequence, and it broke through the resistance at 25.244. Currently, attention can be focused on the price action around 28.00.
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Targets:
33.010
38.093
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If SOL can successfully reach these targets, there is an opportunity for SOL to continue its upward trend. This decreases the probability of the large bear flag pattern mentioned in the previous article (www.tradingview.com/...-see-a-big-sell-off/).
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Targets:
33.010
38.093
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If SOL can successfully reach these targets, there is an opportunity for SOL to continue its upward trend. This decreases the probability of the large bear flag pattern mentioned in the previous article (www.tradingview.com/...-see-a-big-sell-off/).
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Analyzing the pattern, SOL currently has the opportunity to continue its upward trend.
Examining the four-hour chart, SOL is expected to approach 102: