The Federal Reserve did not stop raising interest rates due to the bank liquidity crisis, but it can be seen from the FOMC statement that most officials didn’t ignore this problem. It’s just that the crisis isn’t dangerous enough to stop raising interest rates. And at the press conference, Powell made it clear that interest rates will not be raised within 2023. The meeting did not bring additional hawkish or dovish information.
Financial market became peace last week, with no waves. In the crypto-market, BTC remained fluctuation at high level, while ALTS declined.
Last week, we believed that after SOL deviated from the given support level, the strength of the bulls would gradually decay. As we said, SOL made a drop last week. And on the way down, the length and volume of the red candles show the strength of bears.
Conclusion: Mostly fluctuation. Unlike BTC and ETH, SOL doesn’t have a clear trend in a larger scale. The gap between the bulls and bears is not obvious and this week is more likely to continue this trend. We maintain support level at 16 and resistance level at 26.
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.
Financial market became peace last week, with no waves. In the crypto-market, BTC remained fluctuation at high level, while ALTS declined.
Last week, we believed that after SOL deviated from the given support level, the strength of the bulls would gradually decay. As we said, SOL made a drop last week. And on the way down, the length and volume of the red candles show the strength of bears.
Conclusion: Mostly fluctuation. Unlike BTC and ETH, SOL doesn’t have a clear trend in a larger scale. The gap between the bulls and bears is not obvious and this week is more likely to continue this trend. We maintain support level at 16 and resistance level at 26.
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.
