After the liquidity crisis in Credit Suisse, Gold outperformed other markets and risk aversion rose last week. In the crypto market, BTC got more gains than other ALTS. BTC also plays a role in risk aversion.
The market will usher in FOMC this week, and the current market forecasts of interest rate hike is 25bp. Under such circumstances, the pressure on the U.S. banking industry will continue and many banks will face poor liquidity, and the safe-haven assets like gold and BTC will continue to be valid.
As a follower, SOL did not have high trading volume in its rise last week. There was a certain upper pin-bar during the process. It was only on Monday that the trading volume began to increase, but there was no long green candles formed on chart.
Conclusion: Mostly fluctuation. The bears is not strong, so even though the price is rising, it does not confirm the strength of the bulls. We maintain last week's resistance level at 26 and support level at 16.
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 market will usher in FOMC this week, and the current market forecasts of interest rate hike is 25bp. Under such circumstances, the pressure on the U.S. banking industry will continue and many banks will face poor liquidity, and the safe-haven assets like gold and BTC will continue to be valid.
As a follower, SOL did not have high trading volume in its rise last week. There was a certain upper pin-bar during the process. It was only on Monday that the trading volume began to increase, but there was no long green candles formed on chart.
Conclusion: Mostly fluctuation. The bears is not strong, so even though the price is rising, it does not confirm the strength of the bulls. We maintain last week's resistance level at 26 and support level at 16.
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.
