Weekly market recap

In this dramatic December, the whole market dumped with the panic at the beginning of the month, after a short-term rebound, short side still controlled the situation nearly half a month.

On last week, when most investors were in the shadow of panic, long side started a powerful rebound and stopped the process of short side confirmation.

BTC(1D)

BTC, as the market leader, resisted the short side confirmation and made a big rebound. From the graph, we can see that the long side performed very well last week, rebounding 38% from the low of Dec.18 (45515) (if you choose to use the low of Dec.4 as the benchmark, then it has rebounded by 50%!).The rise cost less time than that the fall cost which means the reversal may actually happened. With the attack of the long side, BTC has exited the bearish channel obviously and started to attack 52000. Driven by BTC, the whole crypto market has also rebounded significantly.

Conclusion: Mostly rising. If long side can win the resistance level (52,000) later, the price is likely to return level before Dec.4 (54000). For long-term investors, long side signal is relatively clear, and the price may not return to 0.236 (Fib retracement shown).

ETH(1D)

ETH isn’t impacted deeply by the crash at the beginning of the month. But in the following days, it made up for a period of decline.The same as short side, long side also performed average the week. In the early of last week, short side hinder the rise (4000) again and again. Carried by the entire market, long side has pushed the price above the mud puddle(4000) finally.

Conclusion: The strength of rise is low, and adjustments may begin. As a follower of this period, price barely stood firm above 4000.This price is not far from the next resistance level. For investors, there is no good profit margin for establishing a long position at present. You should wait to enter the market after breaking the resistance level.

SOL(1d)

Long side maintained the strength of the previous week (14th-19th) and recovered the part of the new low. After two weeks of rising, short side still did not fight back. So the rise will not end. The price has almost recovered 50% of the falling from ATH. Maybe after a short-term correction, long side will keep pumping.

Conclusion:Mostly rising. The strongest of the three, even in a long term, fib retracement has rebounded 50% which is enough for a bullish signal. For investors, this is undoubtedly an opportunity to establish a long position, 0.382 of fib retracement will be a strong support level and the next target will be 233.

Advice for our pools

Based on the above conclusions, the short-position strategy which Quant SAP provided may no longer be appropriate. Top Crypto Index and Solana Eco Index are both good choices. Comparing with the percentage, Solana Eco Index, which has 71% SOL will be better. As the 3rd week of test, this is an opportunity to outperform the majority.

Winner list of the third week with the requirement of PNL(%) above 10%.

Data as of 9AM UTC last Friday. They will be able to claim 250 $SYP at the end of the game.

The total distributed prize in the third week is 500 $SYP, the remaining 9,500 will be added to the prize pool of the fifth week. Now the prize pool is 35,300 $SYP. Get to the top 10 and share it.

https://sypool.io

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Sypool is a synthetic asset management protocol.This is another innovation that we have migrated finance from off-chain to on-chain.