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Ivan Liljeqvist highlights the ongoing bearish trend in SOL, observing that it has remained in a downtrend for ten consecutive months.
He cautions market participants against trying to predict a reversal purely based on recent red candles, emphasizing the need to respect prevailing trends rather than anticipate a turnaround.
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Liljeqvist has recently highlighted Bitcoin's bullish outlook amid growing ETF inflows and potential rate cuts in a separate analysis. In another market comment, he described Bullmania SPCX as safe and positioned for purchase when a bullish trend is confirmed in his latest assessment. These observations contrast with his current caution regarding the persistent SOL downtrend.