Solana has been in rally for a while as lot of speculations and news around it and new tokens on it's ecosystem has been credited for it's rally, shall we consider this as beginning and is it a good time to take entry? Someone new to crypto would say "Yes" but those who has been here for a while would be hesitant because we have seen SOL rising from $15 to $259 and then witnessed the downfall as well to less than $8.
I personally feel little bit confused because somewhere I feel if I enter now then I will be doing it in FOMO. Please share your opinion whether we can still take entry or should we wait if there would be any possible market correction and this is not for long term investment.
I personally feel little bit confused because somewhere I feel if I enter now then I will be doing it in FOMO. Please share your opinion whether we can still take entry or should we wait if there would be any possible market correction and this is not for long term investment.
No one knows. But we can present theories on where we are. Most bullish scenario to me is that to me this looks like first leg that isn't even finished yet as there has been no retrace yet, and there will be 2 more (B & C) coming (if you believe in elliot wave principle that is). This one could go as high as ath imho. This scenario makes my skin growl as i was playing with sol nfts when it was $20 and less.
But that would mean we are heading towards altcoin season so big, we have not seen anything like it before. As classically wave 3 is the largest. But i am saying big in terms of in flowing money, not in necessarily terms of gains.
right now it seems majority of coin are just gaining some opportunity to recover back a little bit from the bottom price, there are still plenty of opportunities meanwhile with solana its already 10 times of bottom price this year.
I guess i would try to find the second solana that might have as much increase but surely its not gonna be easy since most of the coin out there will definitely have less potential than solana.
im also waiting for matic, sui and so on to breakthrough in the next big wave.