The European Central Bank decided to raise interest rates by 75bp, and this Wednesday it was turn to FOMC-TIME. Although there is a high probability of raising interest rates by 75bp, Powell's speech still deserves attention. Recently, Nick Timiraos, who is regarded by the market as the Fed's spokesman has repeatedly hinted the path of Fed's rate hike. After leading last week's rebound, Nick's hawkish tweets over the weekend hindered risk assets. It should be familiar to us that Fed officials often make hawkish comments after risk assets rebound. Therefore, Powell's speech this Wednesday is critical and will determine whether the reversal of monetary policy is coming.
SOL was carried by the market last week, but still did not break the given support level. The rebound of SOL is not the same as that of BTC and ETH. It was weak in the early part of last week, and its comparative advantage came from the weekend, which is why we think SOL is a follower. SOL has not actually changed the situation, and it kept bearish on a larger level. It can also be seen from the candles that during the last week's rise, almost all candles had upward needles. The market saved SOL. If the price breaks the support level 28 last week, then the bearish power will more easily increase.
Conclusion: Mostly fluctuation. The worst performer of the three. We maintain last week's resistance level at 34 and support level at 28. After the price keep away from the low of the year, the bullish force will be obviously reduced, and the price will remain fluctuation.
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.
SOL was carried by the market last week, but still did not break the given support level. The rebound of SOL is not the same as that of BTC and ETH. It was weak in the early part of last week, and its comparative advantage came from the weekend, which is why we think SOL is a follower. SOL has not actually changed the situation, and it kept bearish on a larger level. It can also be seen from the candles that during the last week's rise, almost all candles had upward needles. The market saved SOL. If the price breaks the support level 28 last week, then the bearish power will more easily increase.
Conclusion: Mostly fluctuation. The worst performer of the three. We maintain last week's resistance level at 34 and support level at 28. After the price keep away from the low of the year, the bullish force will be obviously reduced, and the price will remain fluctuation.
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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