WEEKLY CRYPTO MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index gained by 6.48% in the last week. Nasdaq bounced back from the support levels around 14,000 levels, an immediate resistance is expected at 15,300 level.
The top gainers for the week were Moderna Inc, Sirius & Ansys gaining 9%, 6% and 5% respectively
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market continues to stay in the GREED zone. Compared to last week, the Fear & Greed Index has increased from “68” to “74”.
aSOPR for this week is nearly equal to 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 chart of the total number of Bitcoin addresses in the last 30 days is trending upwards and has reached 1.24 million active addresses on the Bitcoin blockchain network, the same growth is reflected in the Bitcoin price
$BTC gained by 1.41% in the last week. Currently the BTC co-relation is decoupled with NASDAQ, The immediate support is expected at $32,000 and resistance is expected at $38,000.
ETH/BTC has been in downtrend since the start of the year 2023. It gained by 3.90% against BTC in the last week and looks oversold. We did see a bounce back from the support levels around 0.050 as expected.
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