Today is an important day. The US November CPI will be released, and the data may significantly affect the trend of risky assets, even more effective than the TA analysis below. So we will first discuss the path of raising interest rates and the CPI.
As we all know, the Federal Reserve has raised interest rates by 75bp four times in a row, which has caused many financial travelers to fall from the peak to the mountainside. In recent months, the CPI data has gradually declined, making the market focus on whether the interest rate hike on Wednesday will be reduced to 50bp. Although there is still a long time to stop tight policy, the reduction in value has given hope to risky assets. Whether this happens will depend on the CPI data.
At present, housing rent, gasoline and diesel, and used-vehicle price are very likely to decline, while new-vehicle will keep increasing. The CPI of November is likely to be lower than that of October. The core CPI will also be low. The market’s expectation for the CPI is 7.3%, which is a decrease of 0.4% compared to last month. If it can reach or even fall below this expectation, then the crypto-market which has been fluctuation for half a month will release the stored energy.
After SOL broke off the bottom, the bulls faded again. Part of the slow decline last week was caused by its own characteristics, and another of it was carried by the market. Bears have little power, and bulls will gradually increase as SOL approach the bottom. And like BTC and ETH, CPI data will determine subsequent moves.
Similarly, we will not give TA conclusions now, and CPI is more important at present. We retain last week's resistance level at 12 and support level at 18.
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.
As we all know, the Federal Reserve has raised interest rates by 75bp four times in a row, which has caused many financial travelers to fall from the peak to the mountainside. In recent months, the CPI data has gradually declined, making the market focus on whether the interest rate hike on Wednesday will be reduced to 50bp. Although there is still a long time to stop tight policy, the reduction in value has given hope to risky assets. Whether this happens will depend on the CPI data.
At present, housing rent, gasoline and diesel, and used-vehicle price are very likely to decline, while new-vehicle will keep increasing. The CPI of November is likely to be lower than that of October. The core CPI will also be low. The market’s expectation for the CPI is 7.3%, which is a decrease of 0.4% compared to last month. If it can reach or even fall below this expectation, then the crypto-market which has been fluctuation for half a month will release the stored energy.
After SOL broke off the bottom, the bulls faded again. Part of the slow decline last week was caused by its own characteristics, and another of it was carried by the market. Bears have little power, and bulls will gradually increase as SOL approach the bottom. And like BTC and ETH, CPI data will determine subsequent moves.
Similarly, we will not give TA conclusions now, and CPI is more important at present. We retain last week's resistance level at 12 and support level at 18.
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.
