Weekly market recap(from December 21st to December 27th)
There was little volatility in the market last week. The prices of many tokens act like a horizontal line. After the release of CPI and FOMC, there are no major economic indicators and meetings last week, which makes both bulls and bears lose momentum again. There are still no major economic indicators released this week. With the arrival of Christmas and New Year, people are enjoying the holidays. The fluctuation will remain.
Finally, we wish you all a Merry Christmas and a Happy New Year.
BTC
BTC fluctuates within a narrow range. The market once again returned to peace after the macro indicators were released. The combination of low volatility and low volume is very similar to what happened in early December. The bulls and the bears were entering the intermission.
Conclusion: Mostly fluctuation. There is nothing special, and it is difficult to give a judgment other than fluctuation in TA. We maintain last week’s resistance level at 17600 and support level at 16000.
ETH
Like most tokens in the market, ETH also entered a narrow range. All candles last week had short real bodies and volume was much lower than in previous weeks. The bulls and the bears seem to be enjoying the holidays, and volatility has dropped rapidly.
Conclusion: Mostly fluctuation. Consistent with the decision of BTC, the fluctuation will be maintained. We retain last week’s resistance level at 1330 and support level at 1160.
SOL
SOL did not usher in the strengthening of the bulls last week, nor did it enter a narrow range, but it was in the process of slowly falling. The price fell through the given support level and approached the year-low. Although there is no red long candle, the power of both bulls and bears has decayed, but the large-scale bearishness makes it difficult to stop falling.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. SOL’s characteristic didn’t save him. Price is near year-low. Our conclusion is based on the low volatility of the market. But for SOL, it is still possible to continue to fall. We maintain last week’s resistance level at 15 and lower the support level to 11.
Disclaimer: Nothing in the article constitutes investment advice. The article objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions based on the information contained in the article 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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