The ADP was higher than that of November last Thursday, so many risk assets fell in advance while the market lowered the expectations for NFP. Finally the market reversed as the NFP was lower than that of November. Crypto-market, gold, foreign exchange market, and U.S. stocks all rose, recovering the losses from the previous day.
On Tuesday, Powell will deliver a speech in Switzerland, which will cover the monetary policy in the 2023. If nothing else, Powell will continue to express his determination to reduce the inflation and oppose the pricing about expansionary policy. On Thursday, the Labor Department will announce the U.S.CPI for December. The expectation value is 6.6%, which is likely to be reached. On the macro, it is gradually changing for the better. Under such circumstances, we believe that the increase of funds has become important. If funds continue to flow into the crypto-market, it will be more conducive to the price.
After our previous recap, SOL entered in a narrow range in the early of last week and than showed a significant rise over the weekend. The volatility is rising, at the same time the price also breaks the given support level. The trading volume growth last week was huge, which was brought about by Vitalik's bullish view over the weekend and the BONK. SOL is more bullish than BTC and ETH. The candles combinations are also bullish.
Conclusion: The high probability rebound has not ended. SOL had the best performance among the three last week. The recovery of trading volume is very important for SOL. As we said at the beginning of this recap, the increase of funds is very important whether it is for a specific Token or the entire market. We raised last week's resistance level to 17.6 and maintained the previous support level at 11.
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.
On Tuesday, Powell will deliver a speech in Switzerland, which will cover the monetary policy in the 2023. If nothing else, Powell will continue to express his determination to reduce the inflation and oppose the pricing about expansionary policy. On Thursday, the Labor Department will announce the U.S.CPI for December. The expectation value is 6.6%, which is likely to be reached. On the macro, it is gradually changing for the better. Under such circumstances, we believe that the increase of funds has become important. If funds continue to flow into the crypto-market, it will be more conducive to the price.
After our previous recap, SOL entered in a narrow range in the early of last week and than showed a significant rise over the weekend. The volatility is rising, at the same time the price also breaks the given support level. The trading volume growth last week was huge, which was brought about by Vitalik's bullish view over the weekend and the BONK. SOL is more bullish than BTC and ETH. The candles combinations are also bullish.
Conclusion: The high probability rebound has not ended. SOL had the best performance among the three last week. The recovery of trading volume is very important for SOL. As we said at the beginning of this recap, the increase of funds is very important whether it is for a specific Token or the entire market. We raised last week's resistance level to 17.6 and maintained the previous support level at 11.
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.
