Eugene: Re-adding to SOL, it may rise to $160 or even $200

BlockBeats News, January 8 — Trader Eugene Ng Ah Sio posted on his personal channel stating, "Re-adding to my position in SOL. During this rebound, I’ve been looking for a target worth focusing on, and so far, SOL has shown the strongest relative strength among the three main cryptocurrencies.

From a technical analysis perspective, SOL also offers one of the cleanest trading patterns, with the potential for a swing up to $160 or even $200, provided this market trend continues and Bitcoin has a chance to reach $100,000 in the future.

My experience is that price often leads, with logic and narrative following. Currently, I think SOL is sufficiently ‘contrarian’ — it’s hard for market participants to find enough reasons to go long at the moment, and this is often the best entry point. When all reasons are laid out on the table, the market has usually already completed about 50% of its move.

Right now, I just hope Bitcoin can hold at $90,000. This pullback is just the first shakeout before a new rally, and then a new upward trend can begin."