The price has had little volatility for almost a month, all moving within our given range. On last Friday, the US NFP for September was better than expected, which made the price which would have broken through the resistance level reversed down again. And OPEC+'s plan to cut production by 2 million barrels a day in November also reminds us that the macro situation has not recovered, and there may even be worse . This Thursday will release CPI data of September. If it is worse than the market expected 8.1% again, then 2022 will have a bad ending.
As far as the performance of the week is concerned, SOL has fallen more than it has risen early last week. In the current market environment, unless there is a large-scale downtrend in BTC and ETH, the support level of SOL will always provide support to prevent the price from falling below it, but when the price recovers, the bullish force of SOL will decrease rapidly. It is the characteristic of SOL . So last week's prices fell significantly more after rising.
Conclusion: Mostly fluctuation. At present, the price is close to the support level again, the bullish power will still increase, and the fluctuation pattern will continue unless there is a macro change. We maintain the original support level at 30 and resistance level at 37.5.
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.
As far as the performance of the week is concerned, SOL has fallen more than it has risen early last week. In the current market environment, unless there is a large-scale downtrend in BTC and ETH, the support level of SOL will always provide support to prevent the price from falling below it, but when the price recovers, the bullish force of SOL will decrease rapidly. It is the characteristic of SOL . So last week's prices fell significantly more after rising.
Conclusion: Mostly fluctuation. At present, the price is close to the support level again, the bullish power will still increase, and the fluctuation pattern will continue unless there is a macro change. We maintain the original support level at 30 and resistance level at 37.5.
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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