Can Solana Break Out After Recent Pullback?

Solana’s price has recently experienced a dramatic drop, dropping over 12% since its breakout in early May. This pullback comes after a significant 16% monthly gain following Ethereum’s surge to $2700. However, analysts believe this correction could offer an opportunity for Solana to bounce back and potentially continue its upward trend. A closer look at the SOL daily chart reveals a classic inverse head and shoulders pattern, a strong bullish reversal formation often signaling the end of a downtrend and the start of a new upward move. )