WEEKLY MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index corrected by 0.30% in the last week. The next critical support is expected at 20,000 level and immediate resistance is expected around 20,700 levels for the coming week
The top gainers for the week were Baidu, Incyte & Illumina gaining around 11%, 10% & 10% respectively.
The NASDAQ Index is expected to continue its upwards trajectory.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market turned to the NEUTRAL zone. Compared to last week, the Fear & Greed Index increased from “51” to “52”
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 $379,000
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 breaking out of the descending channel. An immediate support is expected at 0.043 level and resistance is expected at 0.060 levels. ETH and Alt coins are at inflection point and present amazing risk-reward opportunity
NIFTY
Nifty gained around 0.73% in the last week. An immediate support is expected around 23,100 levels and resistance is expected around 24,900.
PICK OF THE WEEK – CARTRADE
MINTALPHAA – AI Based Stock Portfolio
MintAlphaa: Where Cutting-Edge AI Meets Superior Returns. Unlock the potential of the market with our high-performing AI portfolios and advanced investment strategies.
Get Started with your Stock Investments today with MINTALPHAA
Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.