SOLUSD - Inverse H&S / Capitulation Bottom

19 nov 2022

SOL has hit capitulation levels and is forming an inverse head and shoulders base/bottom. Down 94% the last year, very likely to have already bottomed in the $12 range which is a strong place to accumulate for the next bull.

19 nov 2022

Nota

If the formation is valid, SOL should settle rangebound around $12 for a prolonged accumulation after a movement to test 50MA ($24). Also possible for a liquidity grab/volume absorption lower("panic wick") before settling into before-mentioned range.