CPI,8.3% released last Tuesday was higher than market expectations, which means that the marginal impact of hikes on inflation has weakened. The market has to get into the thinking of strengthening QT or extending QT. It also contributed to the dump in risk assets.
In addition, the cryptocurrency also faced the merger of ETH last week. Although the merger process was smooth, the price fell sharply after the merger. We see exchange balance of ETH remain very high both before and after the merger, and it didn't drop even yesterday, which could constitute a lot of selling pressure.
This week, the FOMC will be announced, and decide how much the rate rise and the size of the terminal interest rate, which will greatly affect the trend of risk assets.
SOL was also attacked by bears last week and the rebound was over. But unlike BTC and ETH, we can see that during the last week's decline, the bulls were consuming the bears, and the integral green candle made the weekly change drop not much. The bulls at the bottom of SOL are stronger than it in BTC or ETH.
Conclusion: Mostly fluctuation. We give the best view of the three because the bottom of the SOL is strong. However, it should be noted that, perhaps due to the bear market, the volume of SOL has been decreasing. So the strength of the bulls is only at the current volume level. This week we lowered the support level to 30 and the resistance level to 37.
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 addition, the cryptocurrency also faced the merger of ETH last week. Although the merger process was smooth, the price fell sharply after the merger. We see exchange balance of ETH remain very high both before and after the merger, and it didn't drop even yesterday, which could constitute a lot of selling pressure.
This week, the FOMC will be announced, and decide how much the rate rise and the size of the terminal interest rate, which will greatly affect the trend of risk assets.
SOL was also attacked by bears last week and the rebound was over. But unlike BTC and ETH, we can see that during the last week's decline, the bulls were consuming the bears, and the integral green candle made the weekly change drop not much. The bulls at the bottom of SOL are stronger than it in BTC or ETH.
Conclusion: Mostly fluctuation. We give the best view of the three because the bottom of the SOL is strong. However, it should be noted that, perhaps due to the bear market, the volume of SOL has been decreasing. So the strength of the bulls is only at the current volume level. This week we lowered the support level to 30 and the resistance level to 37.
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.
