What if $SOL follows a path similar to ETH in 2022 and bottoms out months before Bitcoin?
It's a scenario I'm starting to take more seriously.
The key level I'm watching is the 21-week EMA, currently around $85. The last time SOL reclaimed this level during a bear market, the cycle low was already behind us.
Of course, one historical example isn't enough to draw a firm conclusion. But if SOL reclaims that level again, it could strengthen the case that the worst of this cycle is already over.
It would also help explain why SOL/BTC has continued to show relative strength, even while the broader crypto market has remained under pressure.
#SuperMicroTaiwanRaidedInChipSmugglingProbe
It's a scenario I'm starting to take more seriously.
The key level I'm watching is the 21-week EMA, currently around $85. The last time SOL reclaimed this level during a bear market, the cycle low was already behind us.
Of course, one historical example isn't enough to draw a firm conclusion. But if SOL reclaims that level again, it could strengthen the case that the worst of this cycle is already over.
It would also help explain why SOL/BTC has continued to show relative strength, even while the broader crypto market has remained under pressure.
#SuperMicroTaiwanRaidedInChipSmugglingProbe