Eugene firmly holds SOL, the trading logic behind increasing positions against consensus

Trader Eugene reiterated on January 12th that his trading plan remains unchanged, firmly holding and waiting for an upward move. This is only four days after he increased his position in SOL on January 8th, and his confidence in SOL seems to be growing stronger amid market fluctuations. In the current environment of Bitcoin volatility and mixed market sentiment, why does Eugene continue to add to his SOL position? The underlying logic is worth paying attention to.

Eugene’s Trading Logic: Why SOL

Eugene’s reasons for increasing his SOL holdings are straightforward but convincing. He believes that SOL has demonstrated the strongest relative strength among the three main cryptocurrencies in this rebound. This is not a gut feeling but a conclusion based on technical analysis.

From a technical perspective, Eugene emphasizes that SOL offers the “cleanest trading pattern.” What does this mean? Simply put, it means the price trend is clear, with little noise, making it easier to judge the trend. Under such a pattern, SOL has the potential for a swing upward to $160 or even $200.

A key prerequisite here is that this rally can continue and that Bitcoin has a chance to reach $100,000. In other words, Eugene’s optimism is not unconditional but based on the overall market trend moving upward.

Supporting Data for SOL’s Performance

Looking at recent data, SOL has indeed shown strength:

Currently, SOL is priced at $140.24, still some distance from Eugene’s $160-$200 target. But considering the 4.37% increase over 7 days, SOL is outperforming other main cryptocurrencies. Currently, SOL ranks 6th by market cap, with a market share of 2.55%, and a 24-hour trading volume of $325 million, indicating ongoing market participation.

Contrarian Trading Opportunity

Eugene presents an interesting view: SOL is sufficiently “contrarian.” What does this mean? It means that market participants find it difficult to identify strong reasons to go long on SOL at the moment, and this often signals the best entry point.

This reflects a classic trading wisdom: when all reasons are laid out on the table, the market has often already moved 50%. In other words, the best buying opportunities often occur when market sentiment is most pessimistic. Eugene is currently increasing his SOL position precisely during a phase of market doubt.

From a market sentiment perspective, this judgment also makes sense. According to the latest news, many traders remain cautious about the recent market direction, worried about geopolitical risks and ETF fund outflows. In this context, Eugene’s firm bullish stance on SOL appears to be a contrarian move.

Key Points to Watch Moving Forward

Eugene clearly states that he now only hopes Bitcoin can hold at $90,000. He believes this pullback is just the first shakeout before a new rally. This means Bitcoin’s performance will directly influence SOL’s upward potential.

If BTC can stabilize at $90,000 and eventually reach $100,000, the probability of SOL surging to $160-$200 will greatly increase. Conversely, if BTC breaks below key support, SOL’s upward plan will face challenges.

Summary

Eugene’s decision to increase his SOL holdings amid market hesitation demonstrates confidence in technical analysis and an understanding of market cycles. SOL’s recent performance supports his view, but whether it can reach the $160-$200 target ultimately depends on the overall market trend, especially whether Bitcoin can sustain its upward momentum. Contrarian trading strategies often have the best opportunities when market sentiment is most pessimistic, but they also require market cooperation. Moving forward, key points to watch are whether BTC can hold the $90,000 support level and whether SOL can continue to outperform other main cryptocurrencies.