The long-term fluctuations drained bulls' energy. The price of crypto-tokens dumped more than 10% on last Friday. Although there were no major economic indicators and meetings held in the last week, many kinds of assets have returned to price in the hawkish interest rate hikes. We have seen a rapid rise of the DXY, approaching ATH, and the gold price has entered a staged decline. The expiration of the $2 trillion stock-options also made a sharp correction in U.S. stocks from last Friday. These may have contributed to the crypto-market's bad performance last week. But on the other hand, BTC and ETH did not stand above 25,000 and 2,000 respectively, which made some profit-making chips choose to realize gains, which was the reason of last week's dump.
SOL fell last week, but it didn't break our given resistance level, and still moves within the given range. Seven consecutive red candles indicate that it had the weakest performance of the three last week. Even excluding Friday's heavy losses across the market, prices have slumped 15% from a high of 46.6 in previous days. In terms of the performance of bulls and bears, SOL and ETH are similar. After approaching the given resistance level, the strength of the bears actively increased, and the strength of the bears was finally confirmed.
Conclusion: Mostly fluctuation. The last week was really bad, but the SOL didn't go out of the given range, so this week we kept last week's support level at 32 and resistance level at 47.
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 fell last week, but it didn't break our given resistance level, and still moves within the given range. Seven consecutive red candles indicate that it had the weakest performance of the three last week. Even excluding Friday's heavy losses across the market, prices have slumped 15% from a high of 46.6 in previous days. In terms of the performance of bulls and bears, SOL and ETH are similar. After approaching the given resistance level, the strength of the bears actively increased, and the strength of the bears was finally confirmed.
Conclusion: Mostly fluctuation. The last week was really bad, but the SOL didn't go out of the given range, so this week we kept last week's support level at 32 and resistance level at 47.
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.
