WEEKLY MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index gained around 6% in 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 Broadcom, Nvidia and Advanced Micro gaining around 22%, 16% & 13% respectively.
The NASDAQ Index would continue the upward momentum if it closes above 20k.
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 “29” to “39”
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 $398,000
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
ETH/BTC
ETH/BTC pair continues to traverse within the descending channel pattern. An immediate support is expected at 0.030 level and resistance is expected at 0.060 levels.
NIFTY
Nifty gained around 2% in the last week. An immediate support is expected around 24,000 levels and resistance is expected around 25,900.
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