Market Analysis
SOLUSD midweek: holding $74.67 after Tuesday drop, NFP Friday, 2026-06-01
Solana trades at $74.67 Wednesday, down $7.61 from Monday's open as traders position ahead of Friday's US jobs data.
2 min leesDOGEUSD closed Wednesday at $0.0939, down 6.4% from Monday's $0.1003 open. The week's range spans from $0.0907 to $0.1014, with the low coming during Tuesday's sharp selloff.
Tuesday's plunge from $0.1009 to $0.0926 set the tone for the week. The move lower aligns with broader crypto weakness as traditional markets await key data, with volume picking up to 7,869 contracts on the down day versus Monday's 6,250.
Friday's US Non-Farm Payrolls report (expected 85K vs 115K prior) headlines the remaining calendar. If jobs disappoint and Average Hourly Earnings (forecast 0.3% m/m) comes in soft, risk assets including DOGE could catch a bid. Strong data would likely pressure crypto further as rate cut hopes diminish. Thursday's ISM Services PMI (forecast 53.7) offers a preview of economic momentum.
Retail positioning shows 73% long versus 27% short as of Wednesday morning. Despite the week's selloff, traders remain overwhelmingly bullish, suggesting either conviction in a bounce or positions trapped from higher levels.
DOGEUSD is testing near the $0.094 area after bouncing from Tuesday's $0.0910 low. If price holds above the week's low at $0.0907 through the US data releases, Monday's high near $0.1014 comes back into view. A break below $0.0907 would open up further downside. Trade DOGEUSD with LHFX's tight spreads and fast execution.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
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LHFX is 'n handelsnaam van Longhorn Ltd, 'n Mauritiuse maatskappy gemagtig en gereguleer deur die Financial Services Commission Mauritius onder die Investment Dealer-lisensienommer GB23202204, Kode SEC-2.1B. Kantooradres: Suite 102, 1ste Verdieping, Sterling Tower, 14 Poudriere Street, Port-Louis, Mauritius. GBC-nommer C200455
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Longhorn Ltd bied nie Fiat-wisselkursdienste of Kriptogeldwisselkursdienste aan nie.
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RISIKAWAARSKUWING
Margehandel in buitelandse valuta, virtuele bates of ander buite-beurs-produkte op marge dra 'n hoë vlak van risiko en is moontlik nie vir almal geskik nie. Ons adviseer u om noukeurig te oorweeg of handel vir u gepas is in die lig van u persoonlike omstandighede.
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