Solana Price Targets $143 Following Inverse Head and Shoulders Pattern

Solana is approaching a significant technical breakout, with a bullish chart pattern indicating potential price movement. Analyst Titan of Crypto highlights this development on social media.

Price Target at $143

Solana has faced a prolonged price decline since reaching an all-time high of $293 in January.
The price dropped to $97 on April 7 before showing signs of recovery.
An inverse head and shoulders pattern has formed on the 4-hour candlestick chart.
The neckline resistance was broken recently, suggesting a target of $143 based on measured moves.

Solana

Image from X: Titan of Crypto

Strengthening Momentum

The momentum behind Solana’s price increase appears to be strengthening.
In the last 24 hours, Solana's price increased by 5.3% with trading volume rising by 3.76% to $4.21 billion.
A minor consolidation above the neckline is expected, but continued upside is projected as long as prices remain above the breakout zone.
Currently priced at $129, Solana is 10% away from the $143 target.

This recovery could bolster confidence in Solana's price trajectory moving forward, dependent on broader market sentiment.