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Here's my technical analysis for Solana, for me, I agree with OP that Solana is really oversold. But for me, it's a good buy starting now every time Solana drops below $13. Since I believe, if Bitcoin still continues dropping will not be able to regain the $20,000 level. All altcoins too are affected and continue to dump.
For fundamental side, FTX Exchange really fcked up Solana, that's what another reason why Solana is extremely oversold right now.
As you said, SOL fundamentals are f*ked up and oversold doesn't mean it couldn't be more oversold. So your chart could be huge bear flag as well.
I might buy it when it's under $5 like sam famously did, but i am not going to rush in now.
Ironically Sam Bankman said last august that SOL was the most underrated token and after few months he managed to crash it down by himself.
I don't think so because I believe there are still lots of people who continues to show their support on SOL. They won't sell but they will only continue buying especially now that its price is still cheap. If you will buy at under 5 dollar then you are going to have a hard time waiting. Don't be like Sam because he have bought SOL when it was still not popular but SOL is already matured now. SOL was once an underrated token but I don't consider it as one by the time it break out.
So many people already recognize and invest on this coin. SBF didn't totally crash SOL but what he crash is his own token FTT and his own platform FTX however that causes an impact and affected other coins.
