The CPI of November was 7.1%, and the core CPI was 6%. Both of them are not only smaller than the previous value but also smaller than the predicted value. Price rose for two days before being interrupted by hawkish comments from Powell. Powell said that there is no guarantee that the final interest rate of this round will not rise again, and the strong employment situation is the biggest obstacle. At the same time, FOMC also announced a new Midpoint of target range or target level. Members believe that it is appropriate for the final interest rate to stand at 5.1%, which is an increase of 0.5% from September's Midpoint. This caused asset to fall sharply in the second half of the week, erasing the gains brought about by the CPI. Other officials of the Federal Reserve continued to express hawkish views on Friday to suppress the market, and price continued to fall.
Price returned to the given support level as expected due to its characteristic. The CPI did not give SOL a chance to rise. Last Friday's long red candle proved that the bulls will be significantly reduced after it moves away from the support level, causing the price to fall back. In the case that the entire market is not bullish, the target of SOL is that the previous low will not be broken, but it is difficult to form a rebound.
Conclusion: Mostly fluctuation, and there is a certain possibility of a rebound. Like other tokens in the market, after the announcement of macro information, there is no obvious gap between bulls and bears, so we think there is a high probability that it will continue to fluctuate. But the volatility will be greater than before. For SOL, the price is very close to the support level, and the strength of the bulls will gradually increase to prevent the low from being broken, so we hold the possibility of rebound. We lower the resistance level to 15 and maintain last week's support level at 12.
Price returned to the given support level as expected due to its characteristic. The CPI did not give SOL a chance to rise. Last Friday's long red candle proved that the bulls will be significantly reduced after it moves away from the support level, causing the price to fall back. In the case that the entire market is not bullish, the target of SOL is that the previous low will not be broken, but it is difficult to form a rebound.
Conclusion: Mostly fluctuation, and there is a certain possibility of a rebound. Like other tokens in the market, after the announcement of macro information, there is no obvious gap between bulls and bears, so we think there is a high probability that it will continue to fluctuate. But the volatility will be greater than before. For SOL, the price is very close to the support level, and the strength of the bulls will gradually increase to prevent the low from being broken, so we hold the possibility of rebound. We lower the resistance level to 15 and maintain last week's support level at 12.
