SOL is definitely one of the focuses in this bull market, and the reason is very simple: it performed too strongly in the first half of the year. From the bottom of $8 to now, the increase has been close to 16 times. This kind of increase will naturally attract the attention of a large number of retail investors.
Is it still worth investing in SOL now?
It depends on your trading level.
If you are doing short-term trading, it is okay. Short-term trading emphasizes short, frequent, and fast, and there are opportunities every day. Even if SOL rises 10 times again, it has nothing to do with short-term operations, because short-term trading only captures the fluctuations of a few points. As long as your trading system is strong enough and the buying and selling points are accurate, there are opportunities to make money every day.
What if you are doing mid-term trading?
Then you have to consider more factors, such as whether SOL has any major positive news or hot spot breakthroughs recently. If so, then look at the daily level trend, find the buying point, and formulate a strategy based on your trading system. When the daily peak signal appears, ship out and put the profit in your pocket.
If you are doing long-term trading?
There are more things to consider. To analyze the fundamentals of SOL, is it undervalued or overvalued? SOL has increased 16 times, with a market value of 57.3 billion US dollars, ranking fifth. If it moves up two places and reaches Ethereum's current market value of 286.7 billion US dollars, the increase will be about 5 times. But it is quite difficult to reach this position. You need to further analyze the fundamentals and future market of SOL. If you think 1x or 2x are acceptable and are optimistic about its long-term rise, then wait for a pullback to find a suitable buying point, execute according to your strategy, and decisively take action when the peak signal appears.
