Sep.6-Sep.11(ETH)Weekly market recap
On a macro level, U.S. CPI for August will be released this Wednesday, with the previous value being 3.2% and the forecast value being 3.6%. Affected by OPEC's crude oil production cuts, the market expects last month's CPI to rebound. However, as long as it does not deviate too much from the predicted value, it will have little impact on the crypto market.
On the other hand, there is news that FTX will receive liquidation permit for its crypto assets this week. FTX may sell off its $3.4 billion in crypto assets and use USD to pay creditors. The main assets are BTC, ETH, SOL, FTT, APT, etc. However, due to reasons such as the lock-up period and token type, the only currency pairs that are really affected may be FTT, APT, etc.
After ETH fell , although the price began to rebound today, it has not covered yesterday's decline for the time being. We maintain last week’s resistance level, 1820 and support level, 1500.
From the MBF indicator, at the daily level, ETH had bottom-buying sentiment yesterday, but it was not strong. Compared with mid-August, the value this time is smaller, and the possibility of the price rising directly from here is low, and we need to pay attention to the subsequent changes.
It is important to note that for ETH, you can compare the current MBF value with that of mid-August, as they are part of the same decline. But comparing current values to mid-June is meaningless.
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.
On the other hand, there is news that FTX will receive liquidation permit for its crypto assets this week. FTX may sell off its $3.4 billion in crypto assets and use USD to pay creditors. The main assets are BTC, ETH, SOL, FTT, APT, etc. However, due to reasons such as the lock-up period and token type, the only currency pairs that are really affected may be FTT, APT, etc.
After ETH fell , although the price began to rebound today, it has not covered yesterday's decline for the time being. We maintain last week’s resistance level, 1820 and support level, 1500.
From the MBF indicator, at the daily level, ETH had bottom-buying sentiment yesterday, but it was not strong. Compared with mid-August, the value this time is smaller, and the possibility of the price rising directly from here is low, and we need to pay attention to the subsequent changes.
It is important to note that for ETH, you can compare the current MBF value with that of mid-August, as they are part of the same decline. But comparing current values to mid-June is meaningless.
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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