We are in a bullish trend and just need to cool down and think how far ahead we are.
After gold and forex have fallen for a while, the cryptocurrency market entered into correction last week. Financial markets reacted to the strong employment and a slight drop in CPI. However, the next FOMC will be held on Mar.22, and there will be a new employment data and a new CPI data of Feb. before that, and the reduction of interest rate hike is undoubted. So the decline is an adjustment to the rush, but it is difficult to change the macro environment.
With no major economic data and speeches to come out this week, markets will move relatively freely.
ETH fell less than BTC last week. Since mid-Jan, ETH is more likely to be fluctuate. During last week's correction, the number and length of the red candles were insignificant, and volume was smaller than that of rising period. The strength of the bulls is increasing.
Conclusion: There is a high probability that it will rise after the fluctuation. ETH still played like a follower last week. While the gains in mid-Feb were low, last week's correction was equally minimal. Still a bullish trend on a larger scale, we maintain last week's support level at 1500 and resistance level at 1790.
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.
After gold and forex have fallen for a while, the cryptocurrency market entered into correction last week. Financial markets reacted to the strong employment and a slight drop in CPI. However, the next FOMC will be held on Mar.22, and there will be a new employment data and a new CPI data of Feb. before that, and the reduction of interest rate hike is undoubted. So the decline is an adjustment to the rush, but it is difficult to change the macro environment.
With no major economic data and speeches to come out this week, markets will move relatively freely.
ETH fell less than BTC last week. Since mid-Jan, ETH is more likely to be fluctuate. During last week's correction, the number and length of the red candles were insignificant, and volume was smaller than that of rising period. The strength of the bulls is increasing.
Conclusion: There is a high probability that it will rise after the fluctuation. ETH still played like a follower last week. While the gains in mid-Feb were low, last week's correction was equally minimal. Still a bullish trend on a larger scale, we maintain last week's support level at 1500 and resistance level at 1790.
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.
