SOL has fallen 65% from its peak of 295, so anyone still holding is probably numb by now.
In the short term, the RSI is also oversold at 26.9, with support around 99–104. An oversold bounce could happen at any time. But a bounce isn’t the same as a reversal, and chasing here could leave you getting hit from both sides.
There is some positive news, though: the Solana Foundation opened an office in Shanghai on October 15 (according to its official announcement), making it clear it wants to compete for developers and market share in Asia. CZ even publicly pointed out that BNB Chain is lagging in this area—the two are now openly going head-to-head.
My take: $100 is a key psychological level. Opening an office in Shanghai is a long-term move; in the short term, I’m watching, not chasing.
#Solana
$SOL
#Cryptocurrency
—— Web3 newbie Xiaokai
The above is solely my personal opinion and does not constitute investment advice.
In the short term, the RSI is also oversold at 26.9, with support around 99–104. An oversold bounce could happen at any time. But a bounce isn’t the same as a reversal, and chasing here could leave you getting hit from both sides.
There is some positive news, though: the Solana Foundation opened an office in Shanghai on October 15 (according to its official announcement), making it clear it wants to compete for developers and market share in Asia. CZ even publicly pointed out that BNB Chain is lagging in this area—the two are now openly going head-to-head.
My take: $100 is a key psychological level. Opening an office in Shanghai is a long-term move; in the short term, I’m watching, not chasing.
#Solana
$SOL
#Cryptocurrency
—— Web3 newbie Xiaokai
The above is solely my personal opinion and does not constitute investment advice.
