Weekly Crypto Market Report
US stock market index Dow Jones broke out of the megaphone pattern and is respecting the
support line since Nov2020, weekly close below the trendline can lead to 9-10% correction.
Markets should remain healthy as far as the markets retest the support of the megaphone pattern
and bounce back
GOLD
Gold consolidated for almost 10 months and broke out, it should stay healthy as long as the price
trades above the trendline
BITCOIN
As per the Dow theory, Bitcoin price is making higher highs and higher lows that keeps the uptrend or the Bull market intact. Weekly close below the previous HL of $28,989 may change the trend and we may enter 6-12 months of consolidation phase.
ETHEREUM
Ether follows the same trend as Bitcoin and weekly close below the previous higher low-HL of
$1728 should put Ether into consolidation phase.
In conclusion…
The Dow Jones Index is trading in the healthy zone, Gold looks bullish and uptrend shall be seen
in the coming weeks.
Crypto Markets look attractive in terms of risk-reward, we shall see markets consolidating in the
coming week. Some of the Alt coins shall gain if Bitcoin is trading between $30-40k
TRENDING TOKENS
The below token looks strong and may outperform the markets in the coming week.
LTC/BTC, Mcap – $10.9 Billion
LTC broke a long term downtrend and looks strong against Bitcoin. This could be a potential trend
reversal and we may see LTC outperforming Bitcoin in coming weeks/months.
XMINT token by MintingM looks very attractive, It took support at $300 and bounced back to $600
and now trading around $425 levels
STF token – XMINT listed on Wazirx has consistently outperformed other financial assets and
delivered extraordinary returns for its investors.
Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.
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