Weekly Market Report
NASDAQ-Global Leading Tech
The NASDAQ Index corrected by 2% and closed at 23,900 in the last week. The critical support is expected at 22,500 levels and next resistance is expected around 24,700 levels.
JD.com & Lam Research were the strongest stocks for the week, rising around 24% & 8% respectively.
The NASDAQ Index is correcting from 3 weeks, it is expected to bounce back this week.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market remained in the Extreme FEAR zone. Compared to last week, the Fear & Greed Index decreased from 23 to “8”. Historically whenever the index had gone below 15, the sentiment has reversed
CVDD-TOP CAP PRICE CHART INDICATOR
Bitcoin is expected to reverse from its downward trend. As per the Terminal price model, Bitcoin’s cycle top price prediction is around $297,000 and Bottom is around $47,000
Bitcoin chart
$BTC corrected 6.8% and closed at 67.86K in the last week. The immediate support is expected at $60K and resistance is expected at $83K. Bitcoin is expected to gain this week.
ETH/USDT
$ETH corrected 4.84% and closed at $2.1k in the last week. An immediate support is expected around $1900 and resistance is expected around $2800 levels. ETH is expected to gain this week
Strong momentum tokens to watch for – DEXE & TAO
NIFTY
The Nifty50 Index remained flat and closed at 23,115 in the last week. Above chart is Nifty vs Gold, Nifty has reached demand zone and we expect Nifty to perform better than Gold in coming weeks
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