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SOL price eyes 75% rally as Solana paints a bullish reversal pattern

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cointelegraph.com

Solana (SOL) continued its recovery trend on June 28 while inching closer to triggering a classic bullish reversal setup.SOL's price gained 2.42%, reaching an intraday high of $39.40/ The SOL/USD pair is now up 50% as a part of a broader retracement move that began on June 14 after falling to lows of $26.

The latest buying period in the Solana market has been painting what appears to be an "inverse head and shoulders pattern (IH&S)" pattern.The bullish reversal setup appears when the price forms three troughs in a row below a common support trendline called "neckline." The middle trough, known as "head," is always deeper than the other two troughs, called shoulders.An IH&S setup resolves after the price breaks above the neckline level.

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