In this chart for $SOL , a Double Top pattern appears at the level of 144.71 USDT, which is a bearish reversal pattern indicating the likelihood of a price drop after failing to break the resistance twice.
🔹 Technical analysis of the pattern
The peaks: the price reached the level of 144.71 USDT twice and failed to exceed it.
Neckline: support at 133.90 USDT, which is an important level if broken downwards.
Technical indicators:
RSI low (29.11): indicates that the market is in oversold territory, which could lead to a temporary rebound.
MACD negative: the fast line is below the slow line, confirming the bearish momentum.
📉 Forecasts and strategy
✅ If 133.90 USDT is broken downwards, the price may target 125.55 USDT
✅ If the price rebounds, it may re-test 144.71 USDT
✅ The best entry point for buying will be after confirming the rebound from support or breaking resistance with a strong close
🔴 Caution: If it breaks 133.90, the decline may continue.
🔹 Technical analysis of the pattern
The peaks: the price reached the level of 144.71 USDT twice and failed to exceed it.
Neckline: support at 133.90 USDT, which is an important level if broken downwards.
Technical indicators:
RSI low (29.11): indicates that the market is in oversold territory, which could lead to a temporary rebound.
MACD negative: the fast line is below the slow line, confirming the bearish momentum.
📉 Forecasts and strategy
✅ If 133.90 USDT is broken downwards, the price may target 125.55 USDT
✅ If the price rebounds, it may re-test 144.71 USDT
✅ The best entry point for buying will be after confirming the rebound from support or breaking resistance with a strong close
🔴 Caution: If it breaks 133.90, the decline may continue.