On Wednesday, Jerome Powell’s speech following the conclusion of the latest FOMC meeting provided a more “dovish” than expected message.

The market had a pretty good week.  Prices and breadth both improved.  

The resilience of the US economy and stickiness of price pressures spurred a reassessment of the trajectory of Fed policy. This sparked a sharp rise in US interest rates and extended the dollar’s advance.

Ever since Solana price managed to rise above $100, the bulls have maintained a huge dominance over the rally. The price failed to sustain itself above $200, which formed a double top, resulting in a drastic plunge in the local support below $130.