$SOL has fallen back below its price at 8 a.m. today. If the reason for buying was to chase the morning rally, I don’t agree with turning a short-term trade into a long-term hold just because the price has pulled back.
At 8 a.m. and noon Beijing time on October 18, SOL’s hourly closing prices were 103.47 and 104.52 USDT, respectively. At 15:42, it was trading at 103.31, giving back the gains from that period. The case for expecting the rally to continue has clearly weakened for now.
Holding longer may delay selling, but it won’t automatically restore the original rationale for buying. To hold long term, you need to reassess why you’re willing to hold for longer and how much of a pullback you can tolerate. “Waiting to break even” expresses a hope, but doesn’t answer those questions.
My view: this short-term rebound has faltered, and the short-term position should be assessed against its original exit criteria. A long-term hold needs an independent rationale; changing the time horizon alone won’t solve the problem of a weakened basis for buying.
At 8 a.m. and noon Beijing time on October 18, SOL’s hourly closing prices were 103.47 and 104.52 USDT, respectively. At 15:42, it was trading at 103.31, giving back the gains from that period. The case for expecting the rally to continue has clearly weakened for now.
Holding longer may delay selling, but it won’t automatically restore the original rationale for buying. To hold long term, you need to reassess why you’re willing to hold for longer and how much of a pullback you can tolerate. “Waiting to break even” expresses a hope, but doesn’t answer those questions.
My view: this short-term rebound has faltered, and the short-term position should be assessed against its original exit criteria. A long-term hold needs an independent rationale; changing the time horizon alone won’t solve the problem of a weakened basis for buying.