WEEKLY MARKET REPORT

NASDAQ – Global leading Tech Index

The NASDAQ Index corrected by 6% after forming lower highs during the last week, The next critical support is expected at 17,500 level and immediate resistance is expected around 21,000 levels for the coming week. 

The top gainers for the week were Mondelez, Monster Beverage and Xcel Energy gaining around 5%, 3% & 3% respectively.

The NASDAQ Index would see further selling if the support of 17.5k is broken.

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market remains in the FEAR zone. Compared to last week, the Fear & Greed Index increased from “26” to “29”

 

BITCOIN – aSOPR

aSOPR for this week is less than 1 which indicates that the investors are selling their Bitcoins at loss.

 

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 $396,000 

 

BITCOIN MVRV Z-ScoreThe 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

$BTC’s price dropped by nearly 4% during the previous week, and is now trading at its support levels. The next immediate support is expected at $53.5K and next resistance is expected at $82K. Bitcoin is expected to bounce-back from this level. 

 

ETH/BTC

ETH/BTC pair continues to traverse within the descending channel pattern. An immediate support is expected at 0.040 level and resistance is expected at 0.060 levels. 

 

NIFTY

Nifty corrected around 1.5% in the last week. An immediate support is expected around 24,000 levels and resistance is expected around 25,900. 

 

PICK OF THE WEEK – AGI GREENPAC

 

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