We are in a bullish trend and just need to cool down and think how far ahead we are.
After gold and forex have fallen for a while, the cryptocurrency market entered into correction last week. Financial markets reacted to the strong employment and a slight drop in CPI. However, the next FOMC will be held on Mar.22, and there will be a new employment data and a new CPI data of Feb. before that, and the reduction of interest rate hike is undoubted. So the decline is an adjustment to the rush, but it is difficult to change the macro environment.
With no major economic data and speeches to come out this week, markets will move relatively freely.
The performance of SOL last week was relatively close to that of ETH, and the overall correction was low. And the trading volume is smaller than the state of the previous rise, which means that the bullish trend on a larger level has not been reversed. In detail, the bulls did not strengthen during last week's pullback.
Conclusion: Mostly fluctuation. SOL is more like it has been fluctuating since mid-Jan, and the price has not broken highs and lows. We raised the support level to 20 and maintained the original resistance level at 28.
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.
After gold and forex have fallen for a while, the cryptocurrency market entered into correction last week. Financial markets reacted to the strong employment and a slight drop in CPI. However, the next FOMC will be held on Mar.22, and there will be a new employment data and a new CPI data of Feb. before that, and the reduction of interest rate hike is undoubted. So the decline is an adjustment to the rush, but it is difficult to change the macro environment.
With no major economic data and speeches to come out this week, markets will move relatively freely.
The performance of SOL last week was relatively close to that of ETH, and the overall correction was low. And the trading volume is smaller than the state of the previous rise, which means that the bullish trend on a larger level has not been reversed. In detail, the bulls did not strengthen during last week's pullback.
Conclusion: Mostly fluctuation. SOL is more like it has been fluctuating since mid-Jan, and the price has not broken highs and lows. We raised the support level to 20 and maintained the original resistance level at 28.
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.
