Last Wednesday, July's CPI was announced at 8.5%, which was lower than the June CPI and the forecast. This is confirmation that inflation has peaked. Risk assets such as U.S. stocks and BTC rose further. Another interesting point is that in our observation, the yields of U.S. short-term bonds are rising, which means that there is capital outflow from the bond market, which may play an additional role in the judgment of the U.S. economy.
In the first half of last week, BTC and ETH created a one-month high, and some Altcoins rose even higher. In the second half of last week, the bearish power of BTC and ETH increased, and 25,000 and 2,000 became their checkpoints in this week. The benefits of the ETH merger still exist. Compared with the earlier rise of ETH, the chain-data last week showed that the participants betting on BTC’s compensation of rise.
SOL’s price broke above the highs of the previous rebound last week, up 10.51%, but retreated after attacked by the bears near the given resistance level. While there has been some initiative in price, SOL still plays a follower role in terms of trading volumes that remained low last week. In detail, the candles pattern of SOL last week was very close to ETH’s. It’s a positive combination and the resistance level did not give it a very large bearish power.
Conclusion: Mostly fluctuation. We maintain last week's conclusion because SOL has remained passive throughout the rebound from the July lows, with only a slight change in the previous week. Overall, the bulls and bears maintain close strength. We also maintain the support level at 32 and the resistance level at 47.
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 the first half of last week, BTC and ETH created a one-month high, and some Altcoins rose even higher. In the second half of last week, the bearish power of BTC and ETH increased, and 25,000 and 2,000 became their checkpoints in this week. The benefits of the ETH merger still exist. Compared with the earlier rise of ETH, the chain-data last week showed that the participants betting on BTC’s compensation of rise.
SOL’s price broke above the highs of the previous rebound last week, up 10.51%, but retreated after attacked by the bears near the given resistance level. While there has been some initiative in price, SOL still plays a follower role in terms of trading volumes that remained low last week. In detail, the candles pattern of SOL last week was very close to ETH’s. It’s a positive combination and the resistance level did not give it a very large bearish power.
Conclusion: Mostly fluctuation. We maintain last week's conclusion because SOL has remained passive throughout the rebound from the July lows, with only a slight change in the previous week. Overall, the bulls and bears maintain close strength. We also maintain the support level at 32 and the resistance level at 47.
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.
