We are considering a scenario involving the decline in the SOL's value and the initiation of asset purchases.
It is worth noting that the current correction to the $79.60 level represents a deviation of more than 37% from the prevailing local peak at $126.21. The price movement chart within the descending channel during the correction indicates a reduction in investment activity and profit-taking.
Given the anticipated continuation of the downward trend and considering the potential attainment of price levels around $70 and below, we are contemplating the possibility of strategically re-entering positions in SOL to optimize the portfolio and capitalize on market conditions in our favor.
based on what ? how sure are you that it's going to drop further ?
Rick_SimpleSwap
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@drake4m, hi there! We can't be 100% certain about any price movements. In this case, the price is under significant volumes that occurred as participants fixed profits on SOL price highs. It is highly likely that selling may continue. The area of our interest for SOL, though, is the lower boundary of the channel