There was no hawkish surprise in Powell's speech last Thursday, making the market confirm the assumption of a policy reversal. Assets including crypto, gold, and US stocks have pumped. The NFP released on Friday was unexpectedly better than expected, and wages showed a month-on-month increase, which is not a good news. But assets chose to ignore this situation and continued to rise into the weekend. The carnival doesn't seem to be over. The market did not pull back until yesterday when Nick Timiraos, who is the spokesman for the Fed, tweeted about the pressure on wages. Although the November CPI will not be announced until December 13, the CPI data will benefit from the impact of policies such as oil prices and rents, and it is likely to get low. After a proper adjustment, the price can seize the opportunity to rise next week.
The price has remained below the given resistance level throughout the last week. But that doesn't mean ETH was weak last week. Similarly, ETH broke through the previous high of 1200 last week and tried to attack 1300. However, ETH's callback on Saturday was obvious, and the red pin-bar on Monday was accompanied by high trading volume. ETH is slightly weaker than BTC.
Conclusion: Mostly fluctuation, and there is a certain possibility that the rebound will not end. ETH and BTC are similar, so we draw the same conclusion. We raised the resistance level to 1330 and raised the support level to 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.
The price has remained below the given resistance level throughout the last week. But that doesn't mean ETH was weak last week. Similarly, ETH broke through the previous high of 1200 last week and tried to attack 1300. However, ETH's callback on Saturday was obvious, and the red pin-bar on Monday was accompanied by high trading volume. ETH is slightly weaker than BTC.
Conclusion: Mostly fluctuation, and there is a certain possibility that the rebound will not end. ETH and BTC are similar, so we draw the same conclusion. We raised the resistance level to 1330 and raised the support level to 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.
