$SOL - A potential next stop of Solana
- Solana is one of the layer 1s with strong foundations, technique and finance, get backed by SBF - FTX's founder. Recently, Solana Mobile debuted a flagship phone for Web3 called Saga which shows the team's ambition.
- Regarding tokenomics, on 21 November 2022, the team will receive the remaining amount of SOL and from then on and SOL supply growth will only be inflation from staking rewards. No more internal selling pressure.
- At the moment, the market cap is ~
11B, FDV is ~16B and 70% of total supply is in circulating. As personal evaluation, the cap should be decreased by a half for better positions of accummulating.
- It means that the potential area of interest for
SOL through mid-2023 should be placed around the range $15-$20, confluence with the next target of 5th wave in Elliott Waves at ratio 1.618.
- Stop loss: For long-term investors, dont count it! But for swing traders, invalidation at $11.
- I will keep updating for later sell zone.
- Regarding tokenomics, on 21 November 2022, the team will receive the remaining amount of SOL and from then on and SOL supply growth will only be inflation from staking rewards. No more internal selling pressure.
- At the moment, the market cap is ~
11B, FDV is ~16B and 70% of total supply is in circulating. As personal evaluation, the cap should be decreased by a half for better positions of accummulating.- It means that the potential area of interest for
SOL through mid-2023 should be placed around the range $15-$20, confluence with the next target of 5th wave in Elliott Waves at ratio 1.618.- Stop loss: For long-term investors, dont count it! But for swing traders, invalidation at $11.
- I will keep updating for later sell zone.
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