Data Analysis
The data released by Bureau of Labor Statistics for Non-Farm Payrolls on 1st November, 2024 has come in at a decrease to 44K for October 2024. Compared to the previous release for September 2024 at 240K, 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 421,551 SOL with prices swinging between 165.55 and 168.77, representing a swing of 1.91%. Subsequently, the trading volume increased significantly by 224% to 1.364M SOL. Price action ranged from a low of 163.43 to a high of 174.00, a significant difference of 6.07%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 29,490 SOL in trading volume was observed prior to the data release. Prices ranged between a low of 167.99 to a high of 168.47, a 0.28% change. Immediately following, trading volume increased significantly by 187% to 84,661 SOL. At this time, Solana hit a low of 167.69 with a high of 169.66, a significant change of 1.16%.
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
169.00Close
167.0724h Change
-1.93 (-1.16%)24h High
174.0024h Low
163.4324h Volume
3.264M SOLUS Non-Farm Payrolls
Bureau of Labor Statistics
1st November, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 168.10 | 168.24 | 168.07 | 168.15 | 0.03% | 0.10% | 1,642 SOL |
| During | 168.15 | 168.27 | 167.90 | 167.90 | -0.15% | 0.22% | 8,795 SOL |
| 5 Minutes | |||||||
| Before | 168.26 | 168.29 | 167.99 | 168.15 | -0.07% | 0.18% | 12,608 SOL |
| During | 168.15 | 168.91 | 167.69 | 168.53 | 0.23% | 0.72% | 25,641 SOL |
| 10 Minutes | |||||||
| Before | 168.31 | 168.44 | 167.99 | 168.15 | -0.10% | 0.27% | 21,005 SOL |
| During | 168.15 | 169.45 | 167.69 | 169.44 | 0.76% | 1.04% | 57,316 SOL |
| 15 Minutes | |||||||
| Before | 168.33 | 168.47 | 167.99 | 168.15 | -0.11% | 0.28% | 29,490 SOL |
| During | 168.15 | 169.66 | 167.69 | 169.34 | 0.70% | 1.16% | 84,661 SOL |
| 30 Minutes | |||||||
| Before | 167.88 | 168.51 | 167.78 | 168.15 | 0.16% | 0.43% | 56,616 SOL |
| During | 168.15 | 169.76 | 167.69 | 169.65 | 0.88% | 1.22% | 124,982 SOL |
| 1 Hour | |||||||
| Before | 168.58 | 168.58 | 167.68 | 168.15 | -0.26% | 0.53% | 118,592 SOL |
| During | 168.15 | 170.29 | 167.69 | 169.95 | 1.06% | 1.53% | 197,809 SOL |
| 2 Hours | |||||||
| Before | 168.39 | 168.77 | 167.68 | 168.15 | -0.14% | 0.65% | 267,850 SOL |
| During | 168.15 | 174.00 | 167.69 | 173.34 | 2.99% | 3.63% | 542,074 SOL |
| 4 Hours | |||||||
| Before | 165.94 | 168.77 | 165.55 | 168.15 | 1.31% | 1.91% | 421,551 SOL |
| During | 168.15 | 174.00 | 163.43 | 166.45 | -1.02% | 6.07% | 1.364M SOL |
| 6 Hours | |||||||
| Before | 165.64 | 168.77 | 165.05 | 168.15 | 1.49% | 2.20% | 594,103 SOL |
| During | 168.15 | 174.00 | 163.43 | 166.94 | -0.72% | 6.07% | 1.59M SOL |
| 8 Hours | |||||||
| Before | 169.00 | 169.42 | 165.05 | 165.94 | -1.84% | 2.58% | 887,338 SOL |
| During | 165.94 | 174.00 | 163.43 | 166.45 | 0.31% | 6.07% | 1.786M SOL |
| 12 Hours | |||||||
| Before | 169.00 | 169.42 | 165.05 | 168.15 | -0.51% | 2.58% | 1.309M SOL |
| During | 168.15 | 174.00 | 163.43 | 167.07 | -0.65% | 6.07% | 1.955M SOL |
