SOL Volatility Analysis for Non-Farm Payrolls, 3rd November 2023

Data Analysis

The data released by Bureau of Labor Statistics for Non-Farm Payrolls on 3rd November, 2023 has come in at an increase to 186K for October 2023. Compared to the previous release for September 2023 at 158K, 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 1.925M SOL with prices swinging between 38.08 and 39.49, representing a swing of 3.57%. Subsequently, the trading volume remain relatively unchanged at 2M SOL. Price action ranged from a low of 39.01 to a high of 40.20, a difference of 2.96%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 144,441 SOL in trading volume was observed prior to the data release. Prices ranged between a low of 38.85 to a high of 39.44, a 1.50% change. Immediately following, trading volume increased considerably by 73% to 249,734 SOL. At this time, Solana hit a low of 39.33 with a high of 39.89, a change of 1.40%.

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

39.50

39.20

24h Change

-0.30 (-0.77%)

24h High

40.20

24h Low

37.98

24h Volume

10.216M SOL

US Non-Farm Payrolls

Bureau of Labor Statistics

3rd November, 2023, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time	Open	High	Low	Close	Change	Amplitude	Volume

1 Minute
Before	39.40	39.44	39.33	39.41	0.03%	0.28%	11,792 SOL
During	39.42	39.83	39.42	39.73	0.78%	1.03%	49,808 SOL

5 Minutes
Before	39.28	39.44	39.23	39.41	0.33%	0.53%	35,767 SOL
During	39.42	39.89	39.42	39.85	1.08%	1.18%	127,032 SOL

10 Minutes
Before	39.05	39.44	39.04	39.41	0.91%	1.01%	103,075 SOL
During	39.42	39.89	39.42	39.59	0.43%	1.18%	189,180 SOL

15 Minutes
Before	38.91	39.44	38.85	39.41	1.27%	1.50%	144,441 SOL
During	39.42	39.89	39.33	39.43	0.03%	1.40%	249,734 SOL

30 Minutes
Before	39.15	39.44	38.80	39.41	0.66%	1.62%	260,110 SOL
During	39.42	39.89	39.33	39.69	0.68%	1.40%	365,081 SOL

1 Hour
Before	38.88	39.44	38.77	39.41	1.34%	1.70%	439,889 SOL
During	39.42	39.89	39.03	39.10	-0.82%	2.16%	610,702 SOL

2 Hours
Before	38.27	39.44	38.08	39.41	2.89%	3.45%	871,777 SOL
During	39.42	40.20	39.01	40.01	1.47%	2.96%	1.157M SOL

4 Hours
Before	39.41	39.49	38.08	39.41	0.00%	3.57%	1.925M SOL
During	39.42	40.20	39.01	39.61	0.48%	2.96%	2M SOL

6 Hours
Before	39.00	39.77	38.08	39.41	1.04%	4.25%	2.634M SOL
During	39.42	40.20	38.51	39.10	-0.82%	4.20%	2.874M SOL

8 Hours
Before	39.50	39.77	37.98	39.42	-0.20%	4.50%	3.572M SOL
During	39.41	40.20	38.08	39.61	0.50%	5.27%	3.925M SOL

12 Hours
Before	39.50	39.77	37.98	39.41	-0.23%	4.50%	5.497M SOL
During	39.42	40.20	38.51	39.20	-0.56%	4.20%	4.719M SOL