We are in a bullish trend and just need to cool down and think how far ahead we are.
After the poor-performed data of Jan. caused the financial market to pull back, gold, forex, and U.S. stocks made gains of rebound last week. But the crypto, affected by the delayed release of the Silver Gate 10K report, experienced FUD last Friday, and causing dump. This week, Powell will go to the Senate and the House of Representatives to deliver semi-annual monetary policy reports, and on Friday, the NFP data of Feb. will be released. This is the last employment data before the FOMC on Mar.22. and will determine whether the strong data was a surprise or a trend. So the waves may be more violent this week.
Unlike BTC and ETH, SOL didn’t dump at first and then moved in a narrow range. Instead, it falls with a certain slope. After SOL approached the previous low, the bulls increased, so the slope of the decline was almost fixed. There is no special information on the trading volume, and it maintained a really close trading volume the since Feb.21.
Conclusion:Mostly fluctuation. The characteristic of SOL prevents the emergence of a long red candle, but from the chart, there is no sign of a reversal. We think the price will fluctuate above the given support level until the level is broken down or a long green candle appears. We maintain last week's support level at 20 and resistance level at 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.
After the poor-performed data of Jan. caused the financial market to pull back, gold, forex, and U.S. stocks made gains of rebound last week. But the crypto, affected by the delayed release of the Silver Gate 10K report, experienced FUD last Friday, and causing dump. This week, Powell will go to the Senate and the House of Representatives to deliver semi-annual monetary policy reports, and on Friday, the NFP data of Feb. will be released. This is the last employment data before the FOMC on Mar.22. and will determine whether the strong data was a surprise or a trend. So the waves may be more violent this week.
Unlike BTC and ETH, SOL didn’t dump at first and then moved in a narrow range. Instead, it falls with a certain slope. After SOL approached the previous low, the bulls increased, so the slope of the decline was almost fixed. There is no special information on the trading volume, and it maintained a really close trading volume the since Feb.21.
Conclusion:Mostly fluctuation. The characteristic of SOL prevents the emergence of a long red candle, but from the chart, there is no sign of a reversal. We think the price will fluctuate above the given support level until the level is broken down or a long green candle appears. We maintain last week's support level at 20 and resistance level at 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.
