WEEKLY CRYPTO MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index corrected by 1.75% on Friday. An immediate support is expected at 15000 and resistance is expected at 16500 level. The index could break the support as we can see an increase in volume of sellers on friday. The next support is expected at 14500 levels
The top gainers for the week were Tesla, Qualcomm & Moderna gaining 10%, 7% and 6% respectively
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market continues to stay in the FEAR zone. Compared to last week, the Fear & Greed Index increased from “40” to “46”.
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.
The increase in total number of active addresses and transactions indicates more demand for Bitcoins, the same is reflected in Bitcoin price
$BTC Price gained by 2.55% in the last week as expected, the uptrend is expected to continue. The immediate support is expected at $25,000 and resistance is expected at $32,000.
ETH/BTC is consolidating within the triangle pattern. It corrected by 0.64% against BTC in the last week, the immediate support is expected around 0.062 and the next resistance is expected around 0.073 level.
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