🚀 Solana Primed for $219 Breakout as Head and Shoulders Pattern Emerges

Solana’s price action is flashing a textbook head and shoulders formation—and traders are betting it’s about to erupt.

The pattern, a classic bullish reversal signal, suggests SOL could surge to $219 if resistance cracks. No guarantees, of course—this is crypto, where TA is just astrology for MBAs.

Key levels to watch: A clean breakout above the neckline confirms the uptrend, while failure here could see bulls scrambling. Either way, buckle up—volatility’s coming.

Fun fact: If this plays out, Solana’s market cap would briefly eclipse half the legacy banks that still call it a 'scam.'

Solana Head And Shoulders Pattern Could Trigger Rally

Crypto analyst Melikatrader pointed out that solana has completed a Head and Shoulders formation on its 1-Day chart. This formation can go either way, but for Solana specifically and how the price has performed recently, it could point to a more bullish movement than a bearish one.

After completing the left and right shoulders and the head, the price now looks toward the neckline as the next determinant. This neckline, as outlined by the crypto analyst, has been broken after the price crashed below the $160 level. What could happen next from here is that the solana price could move upward to retest this neckline again. Being able to reclaim it would trigger an uptrend and kickstart a move toward $200.

There is also the trendline that suggests that the Solan price could be in an ascending trend. So far, there have been multiple higher lows, the presence of which is still bullish for the altcoin regardless of current market sentiment. If this holds, then the likelihood of an upward continuation becomes higher.

The analyst further explains that taking into account the head and shoulders formation and the neckline that was broken, it is more likely that the price shoots up from here. The target is placed at $219.84, as long as the momentum holds. Otherwise, there could be bearish implications for the cryptocurrency.

“Based on the pattern and technical analysis, the potential target for the price could be around $219.84, as indicated by the box in the upper right corner,” the analyst explained. “This target aligns with the upward trend continuation from the broken neckline.”

An inverse scenario would be a situation where the price fails to hold above the neckline. A reversal here could lead the Solana price to find better bounce-off points at lower support levels. Amid these, the $136.34 support level would be the one to watch in the case of a bearish scenario, as it would provide the most opportunity to buy.