WEEKLY CRYPTO MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index corrected by 1.55% during the last week. The immediate support is expected at 17,800 level and immediate resistance is expected around 18,700 levels in the coming week
The top gainers for the week were DEXCOM, Moderna Inc & JD.com gaining 11%, 8% and 8% respectively.
The Tech stocks are expected to continue the upward trajectory.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market continues to remain in the GREED zone. Compared to last week, the Fear & Greed Index decreased from “82” to “79”
BITCOIN – aSOPR
aSOPR for this week is greater than 1 which indicates that the investors are selling their Bitcoins at Profits.
CVDD-TERMINAL PRICE CHART INDICATOR
The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $1,23,000
BITCOIN MVRV Z-Score
The period highlighted by the z-score (orange line) entering the pink box, indicates the top of market cycles. It also shows when market value is far below realised value, highlighted by z-score entering the green box. Currently we are in the middle of the cycle
Bitcoin chart
ETH/BTC
ETH/BTC pair is consolidating around the resistance of the descending channel . An immediate support is expected at 0.052 level and resistance is expected at 0.062 levels
Tokens with high Relative Strength in the market
The top gainers for the week were FLOKI, RUNE and GALA tokens gaining 80%, 60% & 60% respectively
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