Last week we talked about BTC bulls was stronger than NDX’s in a period of time before the FOMC, and the rebound was poised to take off. But the decision +75bp made the rebound short-lived. Concerns about the economy-recession and stagnation generated the weekend's decline. No important economic indicators will be announced this week, and the cryptocurrency market is mainly faced with its own leverage problem, which will take several days to resolve.
In the past week, the performance of SOL has been brilliant in the whole market. From the chart you can see how much bullish power SOL has received at this price level and the price is now above where it was at the last report. There were several green candles last week, except for the rate decision day. It should be noted that although the support level provides so much bullish power, many candles had shadow line, which is different from the previous decline. Some people came in and some people left.
Conclusion: Mostly fluctuation. The shadow line makes our conclusions on the conservative side. The given support level (22) is valid, the probability of a reversal happening is low at present. We hold the resistance level at 40, and the bearish power will increase again after the price rises around this level.
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.
In the past week, the performance of SOL has been brilliant in the whole market. From the chart you can see how much bullish power SOL has received at this price level and the price is now above where it was at the last report. There were several green candles last week, except for the rate decision day. It should be noted that although the support level provides so much bullish power, many candles had shadow line, which is different from the previous decline. Some people came in and some people left.
Conclusion: Mostly fluctuation. The shadow line makes our conclusions on the conservative side. The given support level (22) is valid, the probability of a reversal happening is low at present. We hold the resistance level at 40, and the bearish power will increase again after the price rises around this level.
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.
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.
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.