Almost 100% probability that the rate hike on Nov.2 will be +75bp. So last week Fed officials make the public focus on whether it is necessary to slow the pace of rate hike in December. In this situation, the market is expecting an inflation peak and a policy inflection point again, as it did in the June. But how the macro situation change, is still need latest CPI to prove.
The European Central Bank will be the first to face an interest rate decision on Thursday. The market expects that all three benchmark interest rates will be raised by 75bp, which is a reasonable decision for Europe with higher inflation. We know that USDC, which stands for the stablecoin of U.S. funds, declined after U.S. interest rate hikes began. Then, after the action of the European Central Bank, whether USDT, the stablecoin of European funds, will decline, which will have a great impact on the level of market funds.
ETH also remained fluctuation last week, and its bulls stronger than BTC’s, so the price moved closer to the given resistance level. But after approaching the resistance level, the power of the bears increases. Based on the gap between both is not obvious, it will still fluctuate. It is not difficult to see that every time the price reach the upper or lower rail of the range, the trading volume will be larger than usual, which may be the performance of grid trading by market participants.
Conclusion: Mostly fluctuation. Unless there are macro positives and negatives, price will move in the range. Like BTC, we maintain the support level and the resistance level for ETH at 1230 and 1380.
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 European Central Bank will be the first to face an interest rate decision on Thursday. The market expects that all three benchmark interest rates will be raised by 75bp, which is a reasonable decision for Europe with higher inflation. We know that USDC, which stands for the stablecoin of U.S. funds, declined after U.S. interest rate hikes began. Then, after the action of the European Central Bank, whether USDT, the stablecoin of European funds, will decline, which will have a great impact on the level of market funds.
ETH also remained fluctuation last week, and its bulls stronger than BTC’s, so the price moved closer to the given resistance level. But after approaching the resistance level, the power of the bears increases. Based on the gap between both is not obvious, it will still fluctuate. It is not difficult to see that every time the price reach the upper or lower rail of the range, the trading volume will be larger than usual, which may be the performance of grid trading by market participants.
Conclusion: Mostly fluctuation. Unless there are macro positives and negatives, price will move in the range. Like BTC, we maintain the support level and the resistance level for ETH at 1230 and 1380.
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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