Eugene Ng Ah Sio: SOL's breakthrough of $150 is the final confirmation signal of an upcoming bull run
As a top trader, Eugene Ng Ah Sio's opinions tend to be quite influential in the cryptocurrency community. His views on the price of SOL (Solana), especially his mention that if the market does enter a phase of sustained rebound, the price of SOL is unlikely to be below $150 for a long time, can be understood from several aspects:
1. The importance of support levels: Eugene mentioned that SOL has an "iron support zone" near $120, and this area has been tested many times and remains stable. In technical analysis, support levels are levels that are difficult for prices to break, and multiple tests without breaking are often seen as signals that prices may rebound.
2. Relative performance: He also mentioned that another competing L1 blockchain rose more than twice when SOL was at a low level. This relative performance may mean that market funds are looking for new investment opportunities, and SOL, as one of the previously highly-watched blockchain projects, may be attracting the return of these funds.
3. Bullish signal: Eugene sees this as "the last confirmation that we are about to enter a bull market." This shows that he believes that SOL's price performance and the trend of the entire market are moving in a more positive direction, and his personal views also reflect this optimism.
However, the high volatility and uncertainty of the cryptocurrency market means that even the most experienced traders may not be able to accurately predict future price movements. Therefore, investors should carefully consider their risk tolerance and investment goals when making decisions, and avoid blindly following the trend.
Although Eugene's views have certain reference value, they do not mean that the market will definitely develop according to his predictions. Investment decisions should be made based on your own analysis and judgment, and always remain vigilant and flexible to market changes.
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