Solana (SOL) could potentially reach the $185 level if it breaches the neckline of the inverted head and shoulder pattern.
While combining on-chain metrics with technical analysis, it appears that bulls are dominating the SOL.
As of now, there is a strong possibility that SOL could easily reach the $165 level. Meanwhile, another bullish pattern suggests a massive upside rally once it breaches the neckline of the inverted head and shoulder pattern at the $165 level. Additionally, its open interest has surged by 2.9% over the past four hours and has been steadily rising. This growing open interest suggests traders are placing more orders as SOL successfully retests the recent breakout level.
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