- SOL rose after losing 97% of its price and going through 2 years of capitulation.
- An analyst stated that people’s greed to buy SOL at a lower price has made them lose the chance of buying.
- SOL is testing the upper trendline of the rising wedge, it could retrace.
Crypto Analyst Jackis tweeted that Solana was presently rising after losing 97% from its all-time high which was then followed by 2 years of capitulation. Scrutinizing the people’s behavior of buying SOL, Jackis stated that the people get greedy and wait for it to go lower to enter the market. However, SOL started to rise before they could enter the market.
Imagine $SOL went -97% from ATH & through two major capitulationsPeople got greedy & wanted lower, instead, it started to go higher & outperform the rest
Now these people want a retest of (now prior) range low cause they missed the train
Seen it too many cycles in a row to… pic.twitter.com/B8JnUVRDle
— JACKIS (@i_am_jackis) October 26, 2023
When observing the price activity of Solana (SOL), it could be noted that SOL was gaining value throughout the past week. It was trading at $24 when the market opened for sale. Thereafter it gradually ro…
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