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Analysis: After reaching its peak, SOL will undergo a "more brutal" correction than BTC or ETH

Analysis: After reaching its peak, SOL will undergo a "more brutal" correction than BTC or ETH

Bitget2024/09/29 03:14

Regarding trader Eugene Ng Ah Sio's price prediction for SOL, crypto KOL Evanss6 posted on X saying: "Based on the current price, the daily unlock amount of SOL is 11.74 million USD. Calculated at 500 USD, it would be 37.4 million USD; calculated at 1000 USD, it would be 74.8 million USD; by the end of 2025, there will still be about 20 million investor SOL unlocks left. This will increase the daily release volume of SOL by an additional 22 to 44 million dollars, bringing the total release volume to between $60 and $120 million per day." In response to this, trader Eugene replied: "Valid point but I didn't specify when SOL will peak. Moreover, a typical parabolic rise followed by a fall characterizes peaking out . In a stable state , unlocking becomes more important . For instance , I'd interpret your data as 'after SOL peaks , subsequent corrections will be harsher than BTC or ETH'."

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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