SOL Technical Analysis: The Symmetrical Triangle Formation

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Attention SOL traders! The current SOL/USDT chart reveals an intriguing technical pattern – a textbook symmetrical triangle formation developing on the chart. Market history shows these patterns often resolve by returning to their origin point before establishing a new directional move.

📊 Technical Analysis:

  • Previous local high established at $218
  • Currently trading within a well-defined descending channel
  • The yellow support zone has been breached – indicating downward liquidity flow
  • Significant liquidity concentration appears around the $183-$185 range
  • Large position holders may be positioning for a liquidity sweep – potentially pulling SOL down to test the $183-$185 region before any significant directional movement

🤔 Trading Considerations:

Will Solana complete the symmetrical pattern by revisiting the $183-$185 liquidity zone? Or could we see an unexpected early breakout to the upside?


Disclaimer: This analysis contains third-party market observations. Not financial advice. May include sponsored content.

SOL2.87%
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