After the cryptocurrency market fell back again, the price remained in a range and fluctuated last week . During the decline of some cryptocurrencies, the bullish power increased significantly. All three cryptocurrencies we studied stopped falling after touching their support levels. On the other hand, as we know, the Fed's tightening monetary policy has been creating strong selling pressure over the past six months. However, in the last week we have seen some data have revealed hope, yes, you read that right, hope. Although the CPI last week reached a 40-year high of 8.5%, in fact, the pressure on the Core CPI has been reduced for two consecutive months. The increase in CPI brought by the energy side may be temporary, and the price is developing in a positive direction.
The price stopped above the support level after falling. Almost the entire market is in this pace. Relative to BTC, ETH's early bullish strength makes the current position very optimistic. The price took the first step of deceleration (shown by the red arrow last week), then the second step (like the green arrow) will be taken. Last week, it also fluctuated within a narrow range, and a pinbar was generated on Apr.18 too. There is no special information on the performance of each candle, but it is just waiting for the confirmation of a new trend.
Conclusion: Mostly fluctuation,and it is more likely to rise after fluctuation. We maintain the conclusions of the last report, the support level and the resistance level remain unchanged. The range(2870,3290) is still valid.
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.
The price stopped above the support level after falling. Almost the entire market is in this pace. Relative to BTC, ETH's early bullish strength makes the current position very optimistic. The price took the first step of deceleration (shown by the red arrow last week), then the second step (like the green arrow) will be taken. Last week, it also fluctuated within a narrow range, and a pinbar was generated on Apr.18 too. There is no special information on the performance of each candle, but it is just waiting for the confirmation of a new trend.
Conclusion: Mostly fluctuation,and it is more likely to rise after fluctuation. We maintain the conclusions of the last report, the support level and the resistance level remain unchanged. The range(2870,3290) is still valid.
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.
