Crypto traders note to “watch out” for Solana price action as a bullish pennant pattern has started to form on the price chart.
Traders have pointed out a bullish pattern emerging on Solana’s price chart, leading some to anticipate a price rally after the asset surged 17% over the past seven days.
“SOL HUGE PENNANT on the 1D chart,” trading resource CryptoBusy wrote in a July 18 post, which is a pattern that develops when the price consolidates inside a triangle-shaped pattern following a strong downward move.
“Watch out for this price action,” they stated. Meanwhile, crypto trading account InvestAnswers believes that “Solana is still showing impressive strength” against the rest of the cryptocurrency market.
