Data Analysis
The data released by Bureau of Labor Statistics for Non-Farm Payrolls on 8th March, 2024 has come in at an increase to 222K for February 2024. Compared to the previous release for January 2024 at 119K, we can see that labour market is increasing month over month.
To see the impact and volatility of SOL's price during the Non-Farm Payrolls release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.
4-Hours Chart Analysis
In the period prior to the release, the trading volume was 1.127M SOL with prices swinging between 145.00 and 149.98, representing a swing of 3.32%. Subsequently, the trading volume increased significantly by 198% to 3.356M SOL. Price action ranged from a low of 142.03 to a high of 152.64, a significant difference of 6.95%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 100,715 SOL in trading volume was observed prior to the data release. Prices ranged between a low of 147.82 to a high of 148.90, a 0.73% change. Immediately following, trading volume decreased by 12% to 88,824 SOL. At this time, Solana hit a low of 147.80 with a high of 149.15, a change of 0.91%.
About Non-Farm Payrolls
Nonfarm payrolls is the measure of the number of workers in the U.S. excluding farm workers and workers in a handful of other job classifications. This is measured by the Bureau of Labor Statistics (BLS), which surveys private and government entities throughout the U.S. about their payrolls. The BLS reports the nonfarm payroll numbers to the public on a monthly basis through the closely followed “Employment Situation” report.
Disclaimer
The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.
SOL-USDT
Solana
Open
144.34Close
145.7524h Change
1.41 (0.97%)24h High
152.6424h Low
142.0024h Volume
8.102M SOLUS Non-Farm Payrolls
Bureau of Labor Statistics
8th March, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 148.03 | 148.07 | 147.85 | 148.03 | 0.00% | 0.15% | 8,698 SOL |
| During | 148.03 | 148.29 | 147.80 | 148.27 | 0.16% | 0.33% | 8,351 SOL |
| 5 Minutes | |||||||
| Before | 148.54 | 148.54 | 147.85 | 148.03 | -0.34% | 0.46% | 35,327 SOL |
| During | 148.03 | 148.96 | 147.80 | 148.71 | 0.46% | 0.78% | 51,607 SOL |
| 10 Minutes | |||||||
| Before | 148.01 | 148.63 | 147.85 | 148.03 | 0.01% | 0.52% | 53,781 SOL |
| During | 148.03 | 149.15 | 147.80 | 148.94 | 0.61% | 0.91% | 67,895 SOL |
| 15 Minutes | |||||||
| Before | 148.89 | 148.90 | 147.82 | 148.03 | -0.58% | 0.73% | 100,715 SOL |
| During | 148.03 | 149.15 | 147.80 | 148.81 | 0.52% | 0.91% | 88,824 SOL |
| 30 Minutes | |||||||
| Before | 148.99 | 149.78 | 147.82 | 148.03 | -0.65% | 1.31% | 156,609 SOL |
| During | 148.03 | 149.95 | 147.80 | 149.00 | 0.65% | 1.43% | 159,014 SOL |
| 1 Hour | |||||||
| Before | 149.49 | 149.78 | 147.82 | 148.03 | -0.99% | 1.31% | 267,881 SOL |
| During | 148.03 | 149.95 | 147.80 | 149.20 | 0.78% | 1.43% | 318,468 SOL |
| 2 Hours | |||||||
| Before | 146.91 | 149.98 | 146.63 | 148.03 | 0.76% | 2.23% | 671,452 SOL |
| During | 148.03 | 152.64 | 147.80 | 149.41 | 0.92% | 3.17% | 1.058M SOL |
| 4 Hours | |||||||
| Before | 145.89 | 149.98 | 145.00 | 148.03 | 1.45% | 3.32% | 1.127M SOL |
| During | 148.03 | 152.64 | 142.03 | 147.82 | -0.14% | 6.95% | 3.356M SOL |
| 6 Hours | |||||||
| Before | 144.77 | 149.98 | 144.31 | 148.03 | 2.20% | 3.78% | 1.468M SOL |
| During | 148.03 | 152.64 | 142.03 | 146.80 | -0.84% | 6.95% | 3.92M SOL |
| 8 Hours | |||||||
| Before | 144.34 | 146.40 | 142.00 | 145.88 | 1.06% | 3.01% | 1.543M SOL |
| During | 145.89 | 152.64 | 142.03 | 147.82 | 1.31% | 6.95% | 4.483M SOL |
| 12 Hours | |||||||
| Before | 144.34 | 149.98 | 142.00 | 148.03 | 2.49% | 5.32% | 2.669M SOL |
| During | 148.03 | 152.64 | 142.03 | 145.75 | -1.56% | 6.95% | 5.433M SOL |
