5.3 Accurate market analysis
Technical aspects:
Yesterday, there was an oversold rebound. Some of the cottages given in the member group had corresponding gains. However, the market has a short-term pressure level of 60,300 above this position. Can this position be broken through? If it can be broken through, it can reach 63,000. Only by effectively standing at 63,000 can an effective V-shaped reversal be started. In the past two days, many people couldn't stand the decline. After cutting their losses at the bottom, they rebounded, and then they chased and were trapped again. The market is anti-human. When people can't stand the decline, it's time to enter the market. The same is true for Ethereum. The 3100 mark above is a short-term strong pressure, so there may be a rebound in the short term, but the continuity should not be very strong. Pay attention to the several positions mentioned above.
In this wave of cottages, we will find that the coins on the sol ecosystem are still strong, so we have to focus on the meme sector. The meme sector in this bull market is relatively strong. Although it has no value, it has always been a topic, so it is necessary to focus on it.
News:
In the meeting on May 1, the Federal Reserve recently decided to reduce its balance sheet, which means that the Fed will slow down the speed of withdrawing funds from the market. At the same time, the supply of US dollars will increase, leading to a weakening of the US dollar. This is conducive to the increase of market funds and indirectly benefits the cryptocurrency circle.
At the same time, the US Treasury Department started the first repurchase of US bonds in 20 years this month.
What impact will it have on the cryptocurrency circle?
Repurchase of US bonds->less US bonds->Under the condition of unchanged supply
When one commodity is less, the price increases, so the price of US bonds rises
Bond prices are inversely proportional to interest rates, so interest rates will fall->Good for the cryptocurrency circle
The key is to look at the economic data of withdrawal inflation
Pay attention to the two heavy data released at 8:30 tonight:
(1) US unemployment rate in April, expected to be 3.80%
(2) Non-agricultural employment, expected to be 250,000 (previous value 303,000)
Sol Ecosystem
Pyth - Oracle
Pyth Network claims to be a DeFi oracle
Wif - Meme Coin
Dogwifhat is a popular meme coin based on Solana
JUP Decentralized Exchange
Jupiter is a DEX aggregator based on Solana, used to collect liquidity for traders seeking the best possible price and minimum slippage.
W cross-chain protocol
Tnsr NFT platform
