Top trader Eugene: The market will continue to rise after the election, bullish on Solana

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

1. The speculative long positions in October have basically been wiped out.

2. I believe most people plan to avoid risk in the election about a week after November 5th. This catalyst just advanced the time by a few days (which is why I was defensive a few days ago.)

3. Considering everything that's happening on Solana today, since the AI memecoins craze, SOL is undoubtedly a clear asset choice.

4. From a technical analysis perspective, SOL has retested its resistance level of six months and turned it into support after showing extreme relative strength, which is where to buy in. Now that positioning is clear and prices have risen sharply, we think we can continue an upward trend after the election.