WEEKLY CRYPTO MARKET REPORT

NASDAQ – Global leading Tech Index

The NASDAQ Index gained by 1.75% last week. An immediate support is expected at 14500 and resistance is expected at 16500 level. Nasdaq bounced back from the support levels as expected

The top gainers for the week were Peloton, Advanced micro devices & Nvidia gaining 15%, 12% and 10% respectively

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continues to stay in the NEUTRAL zone. Compared to last week, the Fear & Greed Index has remained unchanged at  “50”. 

BITCOIN

aSOPR 

aSOPR for this week is less than 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 number of unique addresses holding 10 BTC and more has reached an ALL TIME HIGH. The usage and adoption of Bitcoin network is trending upwards

Bitcoin chart

$BTC Price corrected by 0.27% in the last week. It closed slightly below the 20 week moving average, we could see a sell off from this level. The immediate support is expected at $25,000 and resistance is expected at $32,000. 

ETH/BTC

ETH/BTC is consolidating within the triangle pattern. It corrected by 5.62% against BTC in the last week, the immediate support is expected around 0.058 and the next resistance is expected around 0.064 level. The RSI has gone below 40, ETH/BTC is expected to bounce back from the support level

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