top trader Eugene Ng Ah Sio analyzed the current market situation on social media as follows:

1. Speculative long positions in October were basically wiped out.

2. Most people are expected to avoid risks in the election around November 5th for about a week. This catalyst only accelerated the time by a few days (which is why I was in a defensive position a few days ago).

3. Considering everything happening on Solana now, since the AI memecoin boom, SOL is undoubtedly a clear asset choice.

4. From a technical analysis perspective, SOL retested the 6-month resistance level and turned it into a support level after showing extreme relative strength, which is a buying point.

Now that the position is clear and the price has risen sharply, we believe that we can continue the upward trend after the election.