Solana (SOL) is correcting in response to the SEC FUD over it being security. You can stake SOL for a 7% yield while you wait for the next bull run. The current price ($17.9) offers a good entry for a long-term position. I'm long and looking to add to my holdings.
Solana, Polygon and Cardano in free fall due to forced selling. Buy order in for Polygon at just below 70 cents. Already completed my long term position in Solana.
I've been pretty much sitting in cash since February on my crypto account, waiting for an opportunity like this to get long on a buy it and forget it basis.
I find that I'm actually much more comfortable buying panics than the chartists who need to wait for confirmation. That was true for bitcoin in the June panic bottom, and true for altcoins today in the SEC panic bottom.
We're in bear territory so there will be a lot of false breakouts and failed buy signals. Waiting for the charts to align perfectly will just result in endless chop. Instead, buy panic and sit on your hands while the situation clears. You are likely to lose money with this approach, but that's true for TA based trading as well. Take comfort in the fact that liquidations cannot last, rather than seeking comfort in horizontal breakouts.
Flash sale going on in crypto. Uniswap (UNI) looking attractive here at $3.93.
The trading long in Quant (QNT) got stopped out today. It briefly dipped to $95.71 before rebounding to $100+. This is the time to get back into crypto investing. The volatility makes it hard to trade, but the bargains are great if you zoom past the Robinhood/SEC fears. Crypto isn't going anywhere, although Gary Gensler might just get his walking papers once his personal vendetta against the crypto community backfires.
Good Trading!
Kashyap