WEEKLY CRYPTO MARKET REPORT 

NASDAQ – Global leading Tech Index

The NASDAQ Index corrected by 3.02% in the last week. it has hit the supply zone, the resistance is expected at 16,500 and immediate support is expected at 15000. NASDAQ would pause for a bit and consolidate before it crosses it’s all time high of 16764 level
The top gainers for the week were Amazon, MercadoLibre & Lam Research gaining more than 8% in a week

 

CRYPTO

 

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continues to remain in the NEUTRAL zone. Compared to last week, the Fear & Greed Index has decreased from “50” to “49”. 

 

BITCOIN

 

SOPR – Another data to evaluate the sentiment of the general public would be to look at Spent Output Profit Ratio (SOPR). What is SOPR? In layman terms, it indicates if people have sold their BTC at a profit or if they sold at a loss. An SOPR value above 1 indicates that profit booking dominated loss booking and below 1 indicates that loss booking dominated profit booking. A value of 1 indicates that the coins were sold at their purchase price. Adjusted SOPR filters out transactions that are younger than 1 hour, thus, clearing out noise from the metric.

aSOPR for this week is at 1 which means investors are selling their Bitcoins at their purchase price.

 

CVDD-TERMINAL PRICE CHART INDICATOR

 

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement.
Derivatives markets indicate trend reversal on Bitcoin due to short covering.

 

Bitcoin chart

 

$BTC Price corrected by 0.66% in the last week. It has reached the demand zone, and a bounce back with a breakout above 32k  is expected from this level. The immediate support is expected at $25,000 and resistance is expected at $32,000. 

ETH/BTC

 

ETH/BTC is consolidating within the triangle pattern and it is trading near the demand zone. It corrected by 1.06% against BTC in the last week, the immediate support is expected around 0.062 and the next resistance is expected around 0.073 level. 

 

Tokens with high Relative Strength in the market

 

 

 

 

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