WEEKLY MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index bounced back last week, gaining nearly 5.5%. The next critical support is expected at 18,400 level and immediate resistance is expected around 22,000 levels for the coming week.
Peloton, Fortinet and Tesla gained 16.2%, 10% and 8.2% for the week
The NASDAQ Index is expected to continue the upward momentum till it reaches its next resistance level.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market has moved to the Extreme GREED zone. Compared to last week, the Fear & Greed Index increased to “76” from the previous level of “70”
CVDD-TOP CAP PRICE CHART INDICATOR
Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $165,000
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 realized value, highlighted by z-score entering the green box. Currently we are in the middle of the bull cycle
Bitcoin chart
ETH/BTC
ETH/BTC pair bounced back last week, gaining 11%, while continuing to traverse within a descending channel pattern. An immediate support is expected at 0.030 level and resistance is expected at 0.060 levels. ETH is expected to reverse and rally from here.
NIFTY
Nifty dropped marginally, losing 0.65% in the last week. An immediate support is expected around 24,000 levels and resistance is expected around 26,400. Nifty is expected to bounce back from this level
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