There was little volatility in the crypto-market last week. The lowered CPI gave risk assets almost half a month to rebound, but the crypto-market missed the opportunity because of FUD. This Wednesday Powell will make a speech about the economy. Except for cryptocurrencies, other assets are in the process of rebounding. Powell may use words to suppress the market, just like what Fed officials did every time after the market rebounded. Of course, NFP released on Friday is more important. It will directly reflect the state of the patient after taking the medicine. If the the data is lower than expected again, the rebound will be difficult to end. If it is higher than expected, people will just feel that the risk of economic recession has been reduced, and the price is not easy to reach the previous low again.
The movement of ETH is close to that of BTC, and the strength of bulls is stronger. ETH has defended its previous low last Tuesday and rebounded. It lagged behind BTC in the early stages of the rebound, but caught up over the weekend. Now the price is trying to stand above the resistance level of 1200. Judging from the performance in recent weeks, once the market is out of the fluctuation, the volatility of ETH is always higher than that of BTC. On a larger scale, ETH is still bearish, and last week's trading volume also reflects that the bulls have not reversed.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. For the same reason as BTC, we gave the same conclusion. This week, we raised the support level to 1100 and the resistance level to 1300.
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 movement of ETH is close to that of BTC, and the strength of bulls is stronger. ETH has defended its previous low last Tuesday and rebounded. It lagged behind BTC in the early stages of the rebound, but caught up over the weekend. Now the price is trying to stand above the resistance level of 1200. Judging from the performance in recent weeks, once the market is out of the fluctuation, the volatility of ETH is always higher than that of BTC. On a larger scale, ETH is still bearish, and last week's trading volume also reflects that the bulls have not reversed.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. For the same reason as BTC, we gave the same conclusion. This week, we raised the support level to 1100 and the resistance level to 1300.
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.
