Solana SOLUSDT Price Analysis (1h)

Solana SOLUSDT is currently in the consolidation phase within a Descending Triangle pattern, signaling a potential breakout on the horizon.

In contrast to the ascending triangle, a descending triangle consists of lower highs forming the upper line, with a strong support level acting as the lower line. Sellers gain ground against buyers, and in most cases, the support line eventually breaks, leading to a continued downward move.

To trade a descending triangle, we can set entry orders above the upper line (lower highs) and below the support line, prepared for a potential breakout. However, it's important to note that in some instances, the support line may hold, resulting in a strong upward move.