WEEKLY MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index remained flat around 20,300 in the last week, The next critical support is expected at 18,400 level and immediate resistance is expected around 21,500 levels for the coming week.
Tesla, Peloton and Lam Research gained 22%, 8% and 7% for the week
The NASDAQ Index is expected to continue the upward momentum once it closes above 20,700
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market remained in the GREED zone. Compared to last week, the Fear & Greed Index remained unchanged at “72”
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 $164,000
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. ETH is expected to reverse and rally from here
NIFTY
Nifty corrected around 2.7% in the last week. An immediate support is expected around 24,000 levels and resistance is expected around 26,700. Nifty is expected to bounce back from this level
PICK OF THE WEEK – CARTRADE
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