Nov.30-Dec.6SOL(1d)Weekly market recap
There was no hawkish surprise in Powell's speech last Thursday, making the market confirm the assumption of a policy reversal. Assets including crypto, gold, and US stocks have pumped. The NFP released on Friday was unexpectedly better than expected, and wages showed a month-on-month increase, which is not a good news. But assets chose to ignore this situation and continued to rise into the weekend. The carnival doesn't seem to be over. The market did not pull back until yesterday when Nick Timiraos, who is the spokesman for the Fed, tweeted about the pressure on wages. Although the November CPI will not be announced until December 13, the CPI data will benefit from the impact of policies such as oil prices and rents, and it is likely to get low. After a proper adjustment, the price can seize the opportunity to rise next week.
After keeping away from the previous low, SOL unsurprisingly remained fluctuating, and even the price did not break through the previous high last week. During the rise of other tokens, SOL has been fluctuating within a narrow range. Compared to previous daily volumes, last week's trading volume was very low. SOL became lifeless. Perhaps maintaining the fluctuation is the best result for it.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. Considering last week's performance and the rapid decay of SOL's bulls, we give the worst conclusion of the three. If the strength of the bulls continues to weaken, then the price will quickly fall back to the support level. We maintain last week's resistance level at 18 and support level at 12.
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 keeping away from the previous low, SOL unsurprisingly remained fluctuating, and even the price did not break through the previous high last week. During the rise of other tokens, SOL has been fluctuating within a narrow range. Compared to previous daily volumes, last week's trading volume was very low. SOL became lifeless. Perhaps maintaining the fluctuation is the best result for it.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. Considering last week's performance and the rapid decay of SOL's bulls, we give the worst conclusion of the three. If the strength of the bulls continues to weaken, then the price will quickly fall back to the support level. We maintain last week's resistance level at 18 and support level at 12.
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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