Last week, the FOMC announced its decision to raise interest rates, economic projections and midpoint of target range or target level. A hike of 75 basis points was in line with market expectations. But the Fed lowered the economic forecast and forecast an unemployment rate of 4.4% in 2023. Throughout U.S. history, as long as the unemployment rate is above 4%, it will trigger a recession. A soft landing may not happen. Even worse is the midpoint, this time the 2022 terminal rate is a full 100 basis points higher than that given in June, which shows that the FOMC in November and December is still hawkish. The reversal point will come in 2024. As soon as the news came out, non-dollar assets all fell, and the market bottom may not have come yet.
As told last week, SOL has rebounded stronger than BTC and ETH due to the importance of this support levels. Price is almost up to where it was two weeks ago. It can also be seen from the volume of the last week that the increase in bulls is obvious. But at the same time, it should be noted that after breaking away from the support level, the initiative of SOL will decrease. If the market does not give a bullish atmosphere, the bulls of SOL will rapidly decay.
Conclusion: Mostly fluctuation. After the bulls strengthened, the overall movement returned to fluctuation. We maintain last week's support level at 30 and resistance level at 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.
As told last week, SOL has rebounded stronger than BTC and ETH due to the importance of this support levels. Price is almost up to where it was two weeks ago. It can also be seen from the volume of the last week that the increase in bulls is obvious. But at the same time, it should be noted that after breaking away from the support level, the initiative of SOL will decrease. If the market does not give a bullish atmosphere, the bulls of SOL will rapidly decay.
Conclusion: Mostly fluctuation. After the bulls strengthened, the overall movement returned to fluctuation. We maintain last week's support level at 30 and resistance level at 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.
