WEEKLY CRYPTO MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index gained by 1% in the last week. The next critical support is expected at 17,000 level and immediate resistance is expected around 19,500 levels for the coming week
The top gainers for the week were Tesla, JD.com & MercadoLibre gaining around 25%, 19% & 17% respectively.
The NASDAQ Index is expected to bounce back and resume the upward trajectory.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market continues to remain in the GREED zone. Compared to last week, the Fear & Greed Index increased from “67” to “71”
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 $355,000
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 consolidating within the descending channel. An immediate support is expected at 0.043 level and resistance is expected at 0.060 levels
NIFTY
Nifty gained 0.25% last week. It is trading in an ascending channel, an immediate support is expected around 21,700 levels and resistance is expected around 23,650. Nifty is expected to continue its upward momentum
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