SOL Volatility Analysis for Non-Farm Payrolls, 8th October 2021

Data Analysis

The data released by Bureau of Labor Statistics for Non-Farm Payrolls on 8th October, 2021 has come in at a decrease to 466K for September 2021. Compared to the previous release for August 2021 at 487K, we can see that labour market is still increasing but slowed 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 1.097M SOL with prices swinging between 157.87 and 166.64, representing a swing of 5.26%. Subsequently, the trading volume decreased by 17% to 913,970 SOL. Price action ranged from a low of 162.34 to a high of 168.97, a difference of 3.92%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 78,349 SOL in trading volume was observed prior to the data release. Prices ranged between a low of 160.00 to a high of 163.17, a 1.94% change. Immediately following, trading volume decreased by 14% to 67,688 SOL. At this time, Solana hit a low of 162.62 with a high of 164.91, a change of 1.39%.

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.