Aug.29-Sep.5(ETH)Weekly market recap
Grayscale and the SEC's case brought volatility, but soon it dropped again.
Last Friday, the United States announced the employment data for August. The actual value was 18.7, which was close to the expected value 17. The unemployment rate rose from 3.5% to 3.8% in August, the highest value in the past 12 months. And in the details of the employment report, it can be found that the unemployment rate of various groups has risen, which will make the Fed cautious in its decision on raise interest rates. After the employment data, the market raised the probability that the FOMC will not raise interest rates in September.
The crypto market has been on a roller coaster over the past week. Affected by Grayscale and the SEC’s lawsuits, the token pumped last Tuesday, but it didn’t last long. It went downhill and gave up all the gains of the pump. Volatility fell again after a brief surge.
We start with this Recap and will add our public script during the analysis. Mega Buying Force, an indicator used to quantify the sentiment of bottom buying. Whale Trend Analysis, an indicator for calculating the trading volume of different trading entities. If you have questions, you can find their full introduction on our home, and you can also ask us in the comment.
ETH remains neutral on a large scale. The bears is slightly ahead of the bulls, and there is a high probability that the ETH will continue to fluctuate. We maintain last week’s resistance level at 1820 and support level at 1500.
Judging from the MBF indicator, ETH had a certain bottom-buying sentiment after the dump in mid-August. Although it has been in fluctuation for more than half a month, it is unlikely that ETH will directly break through 1600.
At the 4h level, after last week's decline, there are certain giant whales involved in the transaction, which can be seen from the WTA indicator. However, the power of bottom-buying sentiment it 4h is not as obvious as that of BTC shown by MBF indicator.
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.
Last Friday, the United States announced the employment data for August. The actual value was 18.7, which was close to the expected value 17. The unemployment rate rose from 3.5% to 3.8% in August, the highest value in the past 12 months. And in the details of the employment report, it can be found that the unemployment rate of various groups has risen, which will make the Fed cautious in its decision on raise interest rates. After the employment data, the market raised the probability that the FOMC will not raise interest rates in September.
The crypto market has been on a roller coaster over the past week. Affected by Grayscale and the SEC’s lawsuits, the token pumped last Tuesday, but it didn’t last long. It went downhill and gave up all the gains of the pump. Volatility fell again after a brief surge.
We start with this Recap and will add our public script during the analysis. Mega Buying Force, an indicator used to quantify the sentiment of bottom buying. Whale Trend Analysis, an indicator for calculating the trading volume of different trading entities. If you have questions, you can find their full introduction on our home, and you can also ask us in the comment.
ETH remains neutral on a large scale. The bears is slightly ahead of the bulls, and there is a high probability that the ETH will continue to fluctuate. We maintain last week’s resistance level at 1820 and support level at 1500.
Judging from the MBF indicator, ETH had a certain bottom-buying sentiment after the dump in mid-August. Although it has been in fluctuation for more than half a month, it is unlikely that ETH will directly break through 1600.
At the 4h level, after last week's decline, there are certain giant whales involved in the transaction, which can be seen from the WTA indicator. However, the power of bottom-buying sentiment it 4h is not as obvious as that of BTC shown by MBF indicator.
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.
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