YBG Long Term Strategy

Solana rally inbound?

Solana (SOL) price action has been disappointing in the past week. After reaching a new all time high at $263, the price has fallen to a current value of around $181. However, we believe the SOL price is getting close to key support levels, as displayed by the attached imaged.

Currently the SOL / ETH chart is at a support level of 0,055 ETH (for each #SOL coin). We also see an important support level at the SOL / BTC chart, if the #Solana price is able to hold the 0,055 ETH level as support we expect a significant rally towards the 0,06 level before challenging the high of around 0,08 #ETH.

Conclusion: Solana will likely return to outperforming #BTC and ETH in the short term📈

Why have we migrated our position from BTC to ETH?

In the past weeks we have migrated our Bitcoin position to ETH and other altcoins. The reason for this is based on crypto market cycle theory. Historic data shows how BTC leads the market before experiencing altcoin growth and eventually a full blown altcoin season.

An important indicator for navigating where we are in the cycle is the ETH / BTC graph. At the moment ETH is at historic low valuations in relation to BTC. At the moment it is retesting for a second time the 0.032 - 0.034 BTC range (as can be seen in the attached image), which is a strong indicator that a Ethereum rally will take place in the next couple of weeks. 🚀

This rally will mean that ETH will outperform BTC in the coming months, which will further pushdown the Bitcoin dominance. As a result our BTC position is fully transitioned to top large cap altcoins.