WEEKLY MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index corrected by 0.1% in the last week. The next critical support is expected at 18,400 level and immediate resistance is expected around 20,000 levels for the coming week
The top gainers for the week were Tesla, Netease & Diamondback energy gaining around 8%, 6% & 5% respectively.
The NASDAQ Index is expected to slow down and consolidate for sometime.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market stays in the NEUTRAL zone. Compared to last week, the Fear & Greed Index remained unchanged at “51”
BITCOIN – aSOPR
aSOPR for this week is equal to 1 which indicates that the investors are selling their Bitcoins at breakeven price.
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 $375,000
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 is breaking out of the descending channel. An immediate support is expected at 0.043 level and resistance is expected at 0.060 levels. ETH and Alt coins are at inflection point and present amazing risk-reward opportunity
NIFTY
Nifty gained around 2.2% in the last week. An immediate support is expected around 22,800 levels and resistance is expected around 24,600. Nifty is expected to consolidate for sometime
PICK OF THE WEEK – HSCL
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