SOL Lost $80 and Is Down Over 19% Since 11/4: Why I'm Not Catching This Knife Yet
$SOL is trading around $77.38 on Binance this morning, down 5.4% in 24 hours, with a 24h low of $77.19. $BTC is down 4.9% to about $68,018 and $ETH is down 4.9% to about $1,921. The Fear & Greed Index (Alternative.me) dropped to 20 for 11/13, now Extreme Fear.
The trend is clear on the daily closes: $95.61 on 11/4, $89.33 on 11/5, $86.54 on 11/8, $83.35 on 11/10, $81.72 on 11/12, and $77.38 now. That's roughly 19% gone from the 11/4 close in ten days, with almost no real bounce in between.
What bothers me more is SOL/BTC. It closed at 0.0011883 on 11/6 and is near 0.0011377 now, about 4% weaker against BTC. On a day when everything sells, SOL is still falling a bit harder than BTC and ETH. That's not the relative strength you want before calling a bottom.
My read: no bottom call. Price is sitting right on its 24h low, and I want to see SOL reclaim $80 on a daily close, with SOL/BTC holding above the 11/11 low of 0.0011252, before I add. Until then, Extreme Fear can stay extreme for longer than people expect, and I'd rather be late than early.
Putting a view like this on record beats trading it on impulse. 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 SOL call like this 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 $77.38 on Binance this morning, down 5.4% in 24 hours, with a 24h low of $77.19. $BTC is down 4.9% to about $68,018 and $ETH is down 4.9% to about $1,921. The Fear & Greed Index (Alternative.me) dropped to 20 for 11/13, now Extreme Fear.
The trend is clear on the daily closes: $95.61 on 11/4, $89.33 on 11/5, $86.54 on 11/8, $83.35 on 11/10, $81.72 on 11/12, and $77.38 now. That's roughly 19% gone from the 11/4 close in ten days, with almost no real bounce in between.
What bothers me more is SOL/BTC. It closed at 0.0011883 on 11/6 and is near 0.0011377 now, about 4% weaker against BTC. On a day when everything sells, SOL is still falling a bit harder than BTC and ETH. That's not the relative strength you want before calling a bottom.
My read: no bottom call. Price is sitting right on its 24h low, and I want to see SOL reclaim $80 on a daily close, with SOL/BTC holding above the 11/11 low of 0.0011252, before I add. Until then, Extreme Fear can stay extreme for longer than people expect, and I'd rather be late than early.
Putting a view like this on record beats trading it on impulse. 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 SOL call like this 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
