img

Weekly Crypto Market Report – 21st May 2023

WEEKLY CRYPTO MARKET REPORT

 

 

NASDAQ – Global leading Tech Index

Amidst all the talks of the US defaulting on its debt, The Nasdaq Index broke out of the resistance zone and it gained by 3.47% in the previous week. It formed the higher high setup on the weekly timeframe which indicates the start of an uptrend.

The immediate support is expected at 13,250 and next resistance is expected at 15,000 levels.

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market remained 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 stands at 1 which means investors are selling their Bitcoins at the purchase price.

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue the upward movement.

There are 1,000,408 addresses holding more than 1 BTC

 

Bitcoin chart

$BTC Price is consolidating within a range after breaking out of the flat base. Bitcoin price corrected by 0.63% last week, the immediate support is expected at $25,000 and resistance is expected at $32,000

 

 

Tokens with Relative Strength in the market

 

 

XMINT token listed on India’s biggest exchange delivered 10X returns 

Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.

Start your Crypto Investments with XMINT Algos today

img

Weekly Crypto Market Report – 14th May 2023

CRYPTO WEEKLY MARKET REPORT

 

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market turned to the NEUTRAL zone. Compared to last week, the Fear & Greed Index has decreased from “60” to “50”. 

 

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 stands at 1 which means investors are selling their Bitcoins at no profit, no loss.

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue the upward movement.

There are 999,743 addresses holding more than 1 BTC

 

Overall Market Performance

 

Nasdaq

The Nasdaq Index is trading above the 20 day moving average and  it gained by 0.61% in the previous week. The immediate support is expected at 13,000 and next resistance is expected at 13,750 levels.

 

 

BTC

$BTC Price is consolidating within a range after breaking out of the flat base. Bitcoin price corrected by 5.32% last week, the immediate support is expected at $25,000 and resistance is expected at $32,000

 

Pick of the Week – $KAVA

 

Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.

Start your Crypto Investments with XMINT Bots today

img

Weekly Crypto Market Report – 7th May 2023

WEEKLY CRYPTO MARKET REPORT

 

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continued to remain in the GREED zone. Compared to last week, the Fear & Greed Index has decreased from “63” to “60”. 

 

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 stands at 1.18 which means more investors are selling at a profit.

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue the upward movement.

There are 155,936 addresses holding more than 10 BTC 

 

Overall Market Performance

 

 

Nasdaq

The Nasdaq Index is forming setups that appear in bull markets, it  gained by 1.89% in the previous week. The immediate support is expected at 13,000 and next resistance is expected at 13,750 levels.

 

 

BTC

$BTC Price is consolidating within a range after breaking out of the flat base. Bitcoin price corrected by 2.75% last week, the immediate support is expected at $25,000 and resistance is expected at $32,000

 

Pick of the Week – $INJ

 

Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.

Start your Crypto Investments with XMINT Bots today

img

Weekly Crypto Market Report – 30th Apr 2023

WEEKLY CRYPTO MARKET REPORT

 

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market changed to the GREED zone. Compared to last week, the Fear & Greed Index has increased from “53” to “63”. 

 

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 stands at 1 which means the coins were sold at their purchase price

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue the upward movement.

There are 994,684 addresses holding more than 1 BTC 


Overall Market Performance

 

Nasdaq

The Nasdaq Index is forming setups that appear in bull markets, it  gained by 1.89% in the previous week. The immediate support is expected at 13,000 and next resistance is expected at 13,750 levels.

 

BTC

$BTC Price is consolidating within a range after breaking out of the flat base. Bitcoin price gained by 5.95% last week, the immediate support is expected at $25,000 and resistance is expected at $32,000

 

Pick of the Week – $ALPHA

Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.

Start your Crypto Investments with XMINT Bots today

img

Weekly Crypto Market Report – 23rd Apr 2023

WEEKLY CRYPTO MARKET REPORT

 

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market changed to NEUTRAL zone. Compared to last week, the Fear & Greed Index has dropped from “69” to “53”. 

 

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 stands at 1 which means the coins were sold at their purchase price

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue the upward movement.

There are 155,880 addresses holding more than 10 BTC 


Overall Market Performance

 

Nasdaq

The Nasdaq Index has formed a higher low on weekly charts which indicates an uptrend, it  corrected by 0.60% in the previous week. The immediate support is expected at 12,840 and next resistance is expected at 13,205 levels.

 

Gold

Gold corrected by 1.26% in the last week. It is retesting the support after breaking out of the $2000 level mark, the next resistance is expected at $2,050 and immediate support is expected at $1950. 

 

BTC

$BTC Price is consolidating within a range after breaking out of the ascending trendline. Bitcoin price corrected by 8.83% last week with low volume, the immediate support is expected at $27,150 and resistance is expected at $31,000

 

ETH

$ETH is struggling to sustain above $2k level, it corrected by 12% in the last week. The immediate support is expected around $1825 and the next resistance is expected around $2150 level

 

Pick of the Week – $ZIL

 

Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.

Start your Crypto Investments with XMINT Bots today