Last Friday NFP was released at 52.8, an astonishing number. We're not going to discuss why it's double the market forecast, it may be based on the Democratic Party’s specific formula. However, after this number was announced, some traditional markets like interest rate swap,DXY, gold and bond markets began to price in +75bp in September, and there was even talk of a temporary FOMC in the August. Hawkish atmosphere intensified. However, risky assets such as U.S. stocks and BTC did not show a major decline, but fluctuated at a high level. In the crypto-market, some altcoins have made new highs of nearly two months. That’s a magical phenomenon. This Wednesday, July's CPI will be released, which is very important for the trend of the following month.
SOL has stuck in mud. Even with other altcoins making a new one-month high catalyzed by the ETH merger, SOL has maintained its character, staying within our given range. Indeed,the problem of Slope affected SOL's gains. Price was unchanged last week. Instead of rising with high volume during the week, last Wednesday's red candle did. Yesterday's green candle was also not accompanied by strong performances such as BTC and ETH.
Conclusion: Mostly fluctuation. Neither good nor bad. The strength of the bulls and bears remains close and it is difficult to breakthrough in the near term. We remained the original support at 32 and resistance 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.
SOL has stuck in mud. Even with other altcoins making a new one-month high catalyzed by the ETH merger, SOL has maintained its character, staying within our given range. Indeed,the problem of Slope affected SOL's gains. Price was unchanged last week. Instead of rising with high volume during the week, last Wednesday's red candle did. Yesterday's green candle was also not accompanied by strong performances such as BTC and ETH.
Conclusion: Mostly fluctuation. Neither good nor bad. The strength of the bulls and bears remains close and it is difficult to breakthrough in the near term. We remained the original support at 32 and resistance 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.
