SOLUSD: Breakout from Bottom Structure Inside Downtrend Channel

Hi!

SOL has been trading inside a descending channel, consistently respecting both upper and lower boundaries. Recently, price formed a clear Inverse Head & Shoulders at the bottom of the channel, signaling potential bullish reversal momentum. The neckline breakout aligns with the break of the minor descending trendline, strengthening the shift in structure.

If price holds above the neckline, the pattern projects a move toward the 160–165 USD zone, which also aligns with the channel’s upper boundary, a strong confluence area and natural target for bulls.

However, failure to sustain above the neckline could lead to a pullback toward the right-shoulder region, though the setup remains valid as long as price stays above the head level.

Overall, SOL is showing a bullish reversal signal, with upside continuation favored while above the breakout zone.