🔥 SOLANA Melting Down: Huge Head & Shoulders Pattern
Around four weeks ago I made an analysis on SOL where I discussed the head & shoulders pattern shown on the chart. Waiting for a break of the neckline way of key importance.
Admittedly, this analysis greatly benefited from the FTX/Binance debacle of the last few days. Nevertheless, the first target has been reached with great success.
For now, I still think that we're going down more. $12.5 would be a perfect bear-market low target, but with everything that's going on that's not certain anymore.
I added the $5 target if we see another FTT-like meltdown occur. Not sure if we actually will get there, but good to keep it in mind.
If you want to know what happened yesterday and why, please check my post below.
Admittedly, this analysis greatly benefited from the FTX/Binance debacle of the last few days. Nevertheless, the first target has been reached with great success.
For now, I still think that we're going down more. $12.5 would be a perfect bear-market low target, but with everything that's going on that's not certain anymore.
I added the $5 target if we see another FTT-like meltdown occur. Not sure if we actually will get there, but good to keep it in mind.
If you want to know what happened yesterday and why, please check my post below.
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