SOL Volatility Analysis for Non-Farm Payrolls, 4th February 2022

Data Analysis

The data released by Bureau of Labor Statistics for Non-Farm Payrolls on 4th February, 2022 has come in at a decrease to 225K for January 2022. Compared to the previous release for December 2021 at 575K, 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 504,594 SOL with prices swinging between 103.70 and 107.00, representing a swing of 3.08%. Subsequently, the trading volume increased significantly by 250% to 1.765M SOL. Price action ranged from a low of 101.69 to a high of 111.38, a significant difference of 8.70%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 55,218 SOL in trading volume was observed prior to the data release. Prices ranged between a low of 103.91 to a high of 104.92, a 0.96% change. Immediately following, trading volume increased considerably by 96% to 108,279 SOL. At this time, Solana hit a low of 102.32 with a high of 104.23, a significant change of 1.83%.

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.