The cryptocurrencies has generally moved below the given support levels last week, making it difficult for the bulls to recover. The rate decision on Wednesday will determine the pace of rate hikes, and it can bring high volatility to the market. In terms of regional crisis, a number of Euro-countries have adopted the Ruble to settle expired natural gas prices, which has eased the further escalation. This week, the market will pay more attention to the pace of rate hikes and Powell's remarks on rate hikes.
The candles last week were not much different from BTC. The advantages in the early stage make its situation more optimistic. After retested, the support level(2870) was invalidated the next day. The price did not turn to the upward channel under the pressure of the bears, it is now back near the given support level again.
Conclusion: Mostly fluctuation. Apart from the influencing factors of the FOMC this week, the TA is more likely to remain fluctuation. For ETH, we maintain a positive view. The support level was lowered to 2710, which is not a strong support level. The resistance level was also lowered to 2950. We set a narrower range because this FOMC may weaken the both levels.
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 candles last week were not much different from BTC. The advantages in the early stage make its situation more optimistic. After retested, the support level(2870) was invalidated the next day. The price did not turn to the upward channel under the pressure of the bears, it is now back near the given support level again.
Conclusion: Mostly fluctuation. Apart from the influencing factors of the FOMC this week, the TA is more likely to remain fluctuation. For ETH, we maintain a positive view. The support level was lowered to 2710, which is not a strong support level. The resistance level was also lowered to 2950. We set a narrower range because this FOMC may weaken the both levels.
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.
