On October 10, renowned trader Eugene Ng Ah Sio provided significant insights into market movements through his social media account. He highlighted that Solana 
$84 (SOL) is a strong choice and predicted that the upward trend will continue following the upcoming US presidential elections. According to his analysis, investors, who tend to avoid risks before the elections, may need to reassess their positions, as the positive signals in Solana’s technical analysis could present new opportunities.
Risk Mitigation Strategy Before the Elections and Solana’s Technical Strength
Eugene Ng Ah Sio noted that speculative purchases in October have largely been liquidated. With the US presidential elections approaching in the first week of November, investors are implementing risk mitigation strategies. He expressed that this process was triggered a few days ago, stating, “That’s why I was in a defensive position a few days ago.”
He emphasized that since the hype surrounding AI memecoins, Solana has come to the forefront, with recent developments in the cryptocurrency world focusing heavily on Solana.
From a technical analysis standpoint, Eugene Ng Ah Sio reported that Solana has surpassed the resistance level tested over the last six months, converting it into a support level and indicating a strong “buy” signal. He stated, “This point, which has been retested as a support level after exhibiting an extremely strong relative strength, is a buying opportunity,” suggesting that the altcoin will maintain its upward trend post-elections.
Predictions for Investors and Post-Election Expectations
According to Eugene Ng Ah Sio’s predictions, most positions in the market have been cleared, and strong projects like Solana are drawing interest. Therefore, he anticipates that the market will enter a renewed upward trend, especially after the elections.
