We saw US stocks, XAU/USD and some other FIAT/USD rebounded significantly last week. The gradual cooling of the employment data and the lower-than-expected CPI data made the financial markets excited again. Unfortunately, the crypto-market missed the gains this time due to the SBF event, and many tokens fell below the lows of the year. Like the panic created by the Luna, it will take a long time to fix. Before the arrival of December, there will be no important economic indicators announced. At most it will be the speeches of Fed officials, so all kinds of assets have power to continue rising.
ETH was affected by the SBF event, and the price fell below the previous low. Compared with BTC, the situation of ETH is not so pessimistic. On ETH, the rebound brought by CPI is more obvious, and on the retail-trading-weekend, the decline is not large, and there is a certain space from the low point of last Wednesday. We also mentioned before that based on the strength of the previous rebound, the price of ETH has always kept a certain distance from the 2022 low, so that the performance of the bulls will be relatively stronger than that of the bears.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. Considering the increase in bulls, we give this conclusion. However, bearishness at a large level retains the possibility of continued decline. We lowered the resistance level to 1300 and the support level to 1100.
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.
ETH was affected by the SBF event, and the price fell below the previous low. Compared with BTC, the situation of ETH is not so pessimistic. On ETH, the rebound brought by CPI is more obvious, and on the retail-trading-weekend, the decline is not large, and there is a certain space from the low point of last Wednesday. We also mentioned before that based on the strength of the previous rebound, the price of ETH has always kept a certain distance from the 2022 low, so that the performance of the bulls will be relatively stronger than that of the bears.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. Considering the increase in bulls, we give this conclusion. However, bearishness at a large level retains the possibility of continued decline. We lowered the resistance level to 1300 and the support level to 1100.
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.
