The impact of interest rate hikes is gradually emerging in the market, and we see that whether it is the oil price or the real estate market, or some indicators such as the consumer confidence index and the US PMI are all declining. Even in the cryptocurrency market, when you switch to 4h or lower-level chart, you will find that in the main trading-time in the United States, there is few cash-flow into the exchanges, and price is under selling pressure at this time. The slowdown in demand spread to all the markets in US.
At present, the market predicts that there is a 92.1% probability that the FOMC will raise interest rates by 75bp in July. In the case of a sharp decline in demand, there may be a new expectation gap.
Although SOL was suppressed by the bears again after breaking through the given resistance level and returned to below it last week. The overall performance of SOL is undoubtedly the best of three. In the previous recap , we mentioned that SOL is approaching a dense trading range in 2021 after the long-time declines, which will provide much bullish power. This is why the price has reached the resistance level of Jun.6 last week. It is still worth noting that after the rise, the bears were not as weak as ETH’s on weekend, the price fell back just as quickly, and the volume increased during the decline. The bears have not faded,and it’s the consequence of the strong decline in early June.
Conclusion: Mostly fluctuation. Equally strong bulls and bears lead us to this conclusion. We raise resistance to 42 and support near the low (28).
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.
At present, the market predicts that there is a 92.1% probability that the FOMC will raise interest rates by 75bp in July. In the case of a sharp decline in demand, there may be a new expectation gap.
Although SOL was suppressed by the bears again after breaking through the given resistance level and returned to below it last week. The overall performance of SOL is undoubtedly the best of three. In the previous recap , we mentioned that SOL is approaching a dense trading range in 2021 after the long-time declines, which will provide much bullish power. This is why the price has reached the resistance level of Jun.6 last week. It is still worth noting that after the rise, the bears were not as weak as ETH’s on weekend, the price fell back just as quickly, and the volume increased during the decline. The bears have not faded,and it’s the consequence of the strong decline in early June.
Conclusion: Mostly fluctuation. Equally strong bulls and bears lead us to this conclusion. We raise resistance to 42 and support near the low (28).
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
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.
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.