Last Thursday, the United States announced that the CPI for September was 8.2%, higher than the expected value of 8.1%, and at the same time the core CPI was 6.6%, an increase that exceeded the expected value. The overall CPI is bad, combined with the strong employment index of September, the possibility of the Fed ending the hawkish hike is very small. In the market, the DXY and interest rate swaps have priced in a hike of 75bp~100bp in November. However, after the U.S. stock opened lower, it fluctuated upwards, and the crypto-market also experienced a sharp upward trend in the same period. But after a cooling-off period over the weekend, the profit will be covered and stabilized, and the follow-up market will still be in a hawkish hike atmosphere.
SOL rebounded after hitting the given support level several times last week and is currently above the level. We originally set a resistance level for SOL with the same logic as BTC and ETH. But SOL has never seen sustained bullish strength that could bring the price closer to the resistance level. This is characteristic of SOL, which has also led to falling highs of price at larger levels, forming a bearish pattern. On Friday when BTC and ETH both had green candles, SOL had a red one and its bulls were weaker than BTC and ETH’s.
Conclusion: Mostly fluctuation. Although it is bearish at a large level, based on the characteristics of SOL, we believe that the bulls will still increase after the given support level is approached. We maintain the previous support level at 30. While SOL bulls are weak, we do not plan to replace the given resistance at 37.5. This is a reasonable resistance level.
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 rebounded after hitting the given support level several times last week and is currently above the level. We originally set a resistance level for SOL with the same logic as BTC and ETH. But SOL has never seen sustained bullish strength that could bring the price closer to the resistance level. This is characteristic of SOL, which has also led to falling highs of price at larger levels, forming a bearish pattern. On Friday when BTC and ETH both had green candles, SOL had a red one and its bulls were weaker than BTC and ETH’s.
Conclusion: Mostly fluctuation. Although it is bearish at a large level, based on the characteristics of SOL, we believe that the bulls will still increase after the given support level is approached. We maintain the previous support level at 30. While SOL bulls are weak, we do not plan to replace the given resistance at 37.5. This is a reasonable resistance level.
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.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.