After the Bitcoin halving, the expected bullish momentum in the market did not materialize. This led to a downturn in assets like Solana. However, if this downturn deepens further, I believe it could present a significant buying opportunity for projects like SOL and others. These areas are ones I will prefer for my long-term spot portfolio.
As seen in the chart above, a drop in Solana to the $122 USDT level could create a buying opportunity. This zone has previously acted as both resistance and support twice, proving to be a crucial point for price action. Furthermore, it has been observed as a significant liquidity area during the downturn on April 13. Therefore, following a decline to this level, we can anticipate an upward movement.