SOL Lost $86. I'm Waiting for $90 Before Calling It a Bottom
$SOL is trading around $82.96 on Binance this morning, down 4.3% in 24 hours, in an $81.34 to $86.82 range. It's weaker than the majors: $BTC is down 1.9% to about $73,748 and $ETH is down 3.8% to about $2,052. SOL/BTC dropped 2.4% to 0.001125. The Fear & Greed Index (Alternative.me) printed 32 for 11/10, still Fear.
Zoom out and the trend is clear. SOL closed at $96.38 on 10/30. On 11/4 it spiked to $98.14, and by 11/5 it had closed at $89.33. It held around $86 to $87 on 11/8 and 11/9, and that shelf broke yesterday.
My read: this is a lower-highs, lower-lows market, and SOL is bleeding against BTC, which tells me it's not just a beta move. The $81 area from yesterday's low is the line I'm watching. I'm not catching this knife. I'd only turn constructive if SOL reclaims about $90, where it closed three days in a row from 11/5 to 11/7, with SOL/BTC turning up. Lose $81 on a daily close and I'd expect more downside first.
Days like this are why I'd rather put my views on-chain than react to every candle. OWL AI is a decentralized portfolio strategy platform covering US stocks, ETFs, crypto and commodities, with strategy vaults already deployed on multiple EVM networks, and Robinhood Chain and Arc currently being deployed. A creator can turn a view like today's SOL call into a public on-chain strategy where holdings and rebalances are inspectable, and you can Follow / Star / Subscribe to the ones you trust. As of 10/31: TVL 7,528,536 USDC and 4,620 holding addresses.
#SOL #Solana #CryptoMarket
$SOL is trading around $82.96 on Binance this morning, down 4.3% in 24 hours, in an $81.34 to $86.82 range. It's weaker than the majors: $BTC is down 1.9% to about $73,748 and $ETH is down 3.8% to about $2,052. SOL/BTC dropped 2.4% to 0.001125. The Fear & Greed Index (Alternative.me) printed 32 for 11/10, still Fear.
Zoom out and the trend is clear. SOL closed at $96.38 on 10/30. On 11/4 it spiked to $98.14, and by 11/5 it had closed at $89.33. It held around $86 to $87 on 11/8 and 11/9, and that shelf broke yesterday.
My read: this is a lower-highs, lower-lows market, and SOL is bleeding against BTC, which tells me it's not just a beta move. The $81 area from yesterday's low is the line I'm watching. I'm not catching this knife. I'd only turn constructive if SOL reclaims about $90, where it closed three days in a row from 11/5 to 11/7, with SOL/BTC turning up. Lose $81 on a daily close and I'd expect more downside first.
Days like this are why I'd rather put my views on-chain than react to every candle. OWL AI is a decentralized portfolio strategy platform covering US stocks, ETFs, crypto and commodities, with strategy vaults already deployed on multiple EVM networks, and Robinhood Chain and Arc currently being deployed. A creator can turn a view like today's SOL call into a public on-chain strategy where holdings and rebalances are inspectable, and you can Follow / Star / Subscribe to the ones you trust. As of 10/31: TVL 7,528,536 USDC and 4,620 holding addresses.
#SOL #Solana #CryptoMarket
