Technical analysis by FP Markets about Symbol SOL: Buy recommendation (2/20/2025)

From the daily timeframe, SOL/USD (Solana versus the US dollar) recently connected with support from US$163.90, aided by the H1 timeframe chalking up an inverted head and shoulders pattern. With the formation’s neckline consumed (taken from the high of 107.88), further outperformance towards the pattern’s profit objective at 179.90 could be seen.Bulls remain in control and appear to be closing in on the pattern's profit objective - AHThe pattern's profit target was essentially hit - AH