The CPI of December last year released last Thursday was in line with market expectations and lower than the previous value. The decreasing NFP and CPI data both mean that inflation is gradually improving and the degree of interest rate hikes in 2023 will be reduced and the pace will slow down. After the data was released, the DXY fall, other assets keep rising. The crypto
market made a crazy pump.
No important data will be released this week and the next one will be the FOMC in early February. If there is no unexpected event, the interest hike will be 25bp this time. On the macro, things started to change for the better.
SOL is the pioneer of this round of rise. Although the pause button was pressed in the first half of last week, the bulls strengthened again in the second half of the week. It rose almost 55% last week. SOL has broken the given resistance level, and the length of the green candle is longer than that in previous weeks, accompanied by increased trading volume. This means that on a larger scale, SOL is struggling to turn bullish. It's reasonable that SOL is still far from where it was in early November, and that's one of its advantage this week.
Conclusion:Mostly rising. Unlike BTC and ETH, SOL is not as close to or reaching the high in November. So it has the space to continue to rise. We raised resistance to the October low 28 and converted last week's resistance 17.6 to this week's support 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.
market made a crazy pump.
No important data will be released this week and the next one will be the FOMC in early February. If there is no unexpected event, the interest hike will be 25bp this time. On the macro, things started to change for the better.
SOL is the pioneer of this round of rise. Although the pause button was pressed in the first half of last week, the bulls strengthened again in the second half of the week. It rose almost 55% last week. SOL has broken the given resistance level, and the length of the green candle is longer than that in previous weeks, accompanied by increased trading volume. This means that on a larger scale, SOL is struggling to turn bullish. It's reasonable that SOL is still far from where it was in early November, and that's one of its advantage this week.
Conclusion:Mostly rising. Unlike BTC and ETH, SOL is not as close to or reaching the high in November. So it has the space to continue to rise. We raised resistance to the October low 28 and converted last week's resistance 17.6 to this week's support 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.
