SOL Bullish Pennant Pattern on Daily Chart Signals Potential Upside Breakout

IconCryptoNewsTerminal Staff18 Jul, 2024

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SOL Bullish Pennant Pattern on Daily Chart Signals Potential Upside Breakout

SOL/USD is showcasing a bullish pennant pattern on the daily chart, hinting at a potential surge, according to analysts. This pattern consists of an upswing followed by a triangular consolidation and then a continuation of the uptrend. SOL is currently trading at $164.88, exhibiting a 3.51% increase, as reported by CoinMarketCap. Technical analysis suggests a possible breakout from the pennant pattern, indicating a positive outlook for SOL.