Last week, we saw that when ETH fell, BTC was supported and did not fall synchronously, and in the second half of the week, we saw a large drop on the correlation between NDX and BTC that remained high for half a year. Will these phenomena lead to new market trends? Our followers will know that we have talked about the lack of bullish power again and again over the past few weeks. Most tokens was pumping with high volume yesterday. This degree of bullish confidence has not been seen in nearly a month. Starting this week, important economic indicators of U.S. will be announced one after another, hoping that bullish confidence can be maintained.
Last week, the situation of SOL was relatively close to that of ETH. At the beginning of the week, the price fell to a new low, and then the V-reversal happened, and the price returned to the given support level. We can see from the graph that three green candles were not covering three red candles.
Conclusion: Mostly falling. Observing the performance of SOL last week, there is still a decline of about 5% last week, which is the weakest performance of the three(BTC,ETH&SOL). So we lowered the support level to 40, which may be tested again this week. The resistance level remains unchanged(58), and the setting logic is consistent with ETH.
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.
Last week, the situation of SOL was relatively close to that of ETH. At the beginning of the week, the price fell to a new low, and then the V-reversal happened, and the price returned to the given support level. We can see from the graph that three green candles were not covering three red candles.
Conclusion: Mostly falling. Observing the performance of SOL last week, there is still a decline of about 5% last week, which is the weakest performance of the three(BTC,ETH&SOL). So we lowered the support level to 40, which may be tested again this week. The resistance level remains unchanged(58), and the setting logic is consistent with ETH.
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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Disclaimer
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.