Last Thursday, the United States announced that the CPI for September was 8.2%, higher than the expected value of 8.1%, and at the same time the core CPI was 6.6%, an increase that exceeded the expected value. The overall CPI is bad, combined with the strong employment index of September, the possibility of the Fed ending the hawkish hike is very small. In the market, the DXY and interest rate swaps have priced in a hike of 75bp~100bp in November. However, after the U.S. stock opened lower, it fluctuated upwards, and the crypto-market also experienced a sharp upward trend in the same period. But after a cooling-off period over the weekend, the profit will be covered and stabilized, and the follow-up market will still be in a hawkish hike atmosphere.
Like BTC, ETH kept fluctuating within the range last week. On the day of the CPI announcement, the price fell below the support level and rebounded quickly. There was also an upward needle on Friday. The bulls and bears were close. Up close, from Sunday, the rebound is stronger than that of BTC, but the trading volume maintains the low level of the weekend. There is no clear evidence of bulls dominance and the bears will build up as the price rises.
Conclusion: Mostly fluctuation. For the bulls and bears, it's been a dull week. The market seems to acquiesce to move in the range unless there is a significant change in the macro situation. We maintain last week's support level at 1230 and resistance level at level 1380.
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.
Like BTC, ETH kept fluctuating within the range last week. On the day of the CPI announcement, the price fell below the support level and rebounded quickly. There was also an upward needle on Friday. The bulls and bears were close. Up close, from Sunday, the rebound is stronger than that of BTC, but the trading volume maintains the low level of the weekend. There is no clear evidence of bulls dominance and the bears will build up as the price rises.
Conclusion: Mostly fluctuation. For the bulls and bears, it's been a dull week. The market seems to acquiesce to move in the range unless there is a significant change in the macro situation. We maintain last week's support level at 1230 and resistance level at level 1380.
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.
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