We are in a bullish trend and just need to cool down and think how far ahead we are.
After the strong increase in NFP of Jan. and Powell's hawkish speech, U.S. stocks and crypto-market made a decline last Thursday, catching up with the loss of other market such like foreign exchange and gold. Market sentiment turned cold. The CPI for Jan. will be released today, in which the prices of gasoline and used cars have increased. Although the impact on the long-term trend become low, it may still fall further in the short term to erase the additional gains brought by FOMO.
SOL is the same as ETH on the level of callback. Both are near the low on the left rising. After last Thursday, bulls and bears have decayed. Comparing to the previous two weeks, the trading volume has decreased significantly. However, in terms of details, ETH has fluctuated downward these days, but SOL was more bullish.
Conclusion: There is a high probability that it will rise after the fluctuation. The performance of SOL in the last week is not inferior to that of BTC and ETH. It was even stronger than BTC. We maintain last week's support level at 17.6 and resistance level at 28. However, extra attention should be paid to the fact that macro data may change the trend under the current circumstances.
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 the strong increase in NFP of Jan. and Powell's hawkish speech, U.S. stocks and crypto-market made a decline last Thursday, catching up with the loss of other market such like foreign exchange and gold. Market sentiment turned cold. The CPI for Jan. will be released today, in which the prices of gasoline and used cars have increased. Although the impact on the long-term trend become low, it may still fall further in the short term to erase the additional gains brought by FOMO.
SOL is the same as ETH on the level of callback. Both are near the low on the left rising. After last Thursday, bulls and bears have decayed. Comparing to the previous two weeks, the trading volume has decreased significantly. However, in terms of details, ETH has fluctuated downward these days, but SOL was more bullish.
Conclusion: There is a high probability that it will rise after the fluctuation. The performance of SOL in the last week is not inferior to that of BTC and ETH. It was even stronger than BTC. We maintain last week's support level at 17.6 and resistance level at 28. However, extra attention should be paid to the fact that macro data may change the trend under the current circumstances.
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.
