Happy New Year, Sypoolians. The market did not form trend during the New Year holiday, maintaining a movement within a narrow range. This week the U.S. Department of Labor will release the first important indicator of the new year, employment data. After the slowdown in rate hikes, the Federal Reserve has repeatedly stated that employment data will be used as an important indicator of economic slowdown. Compared with the decline of CPI, the increase of unemployment rate and the reduction of NFP are more meaningful.
In the market, we are concerned that the contradiction between Gemini and DCG still exists, and both parties to the $1.7B borrowers hold their own explanations. At present, Gemini requires DCG to give a clear answer before Jan.8. This will also bring volatility to the price.
The situation of ETH is the same as that of BTC. Price fell slightly last week, but did not break out of the narrow range. The trading volume was as low as it has been in previous weeks. Both bulls and bears are so weak.
Conclusion: Mostly fluctuation. Price will continue to fluctuate in the 50-point range until macro data or industry news breaks this. We maintain last week's resistance level at 1330 and support level at 1160.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
In the market, we are concerned that the contradiction between Gemini and DCG still exists, and both parties to the $1.7B borrowers hold their own explanations. At present, Gemini requires DCG to give a clear answer before Jan.8. This will also bring volatility to the price.
The situation of ETH is the same as that of BTC. Price fell slightly last week, but did not break out of the narrow range. The trading volume was as low as it has been in previous weeks. Both bulls and bears are so weak.
Conclusion: Mostly fluctuation. Price will continue to fluctuate in the 50-point range until macro data or industry news breaks this. We maintain last week's resistance level at 1330 and support level at 1160.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
