Weekly Market Report
NASDAQ-Global Leading Tech
The NASDAQ Index corrected by -4.13% and closed at 28,592 in the last week.
PLTR & EXC were the strongest stocks for the week, rising around 9% & 8% respectively.
The NASDAQ Index is expected to bounce back from here.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market stays in the FEAR zone. Compared to last week, the Fear & Greed Index increased from 28 to “29”. Historically, Buying Bitcoin in fear zone has turned out favourable for long term Investors.
CVDD-TOP CAP PRICE CHART INDICATOR
Bitcoin is expected to bounce back this week. As per the Terminal price model, Bitcoin’s cycle top price prediction is around $299,000 and Bottom is around $50,000.
Bitcoin chart
$BTC gained 1.48% and closed at 64.72K in the last week. Bitcoin is showing signs of bottoming, Bitcoin is expected to consolidate for couple of weeks before moving upwards from here.
ETH/USDT
$ETH gained 3.75% and closed at $1868 in the last week. ETH has reached the multiyear demand zone(range 1500-1800). ETH is expected to consolidate a bit before making an upwards move from here
Strong momentum tokens to watch for – PUMP & ETHFI.
NIFTY
The Nifty50 Index gained by 0.53% and closed at 24,334 in the last week. The Nifty has formed higher lows and is showing signs of reversal. Nifty is expected to gain from here.
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