In the past week, NWST1100 index succumbed to bearish pressure, support did not hold, so index plummeted by 20%. Dynamic Trading Rights (DTR) is the NWSL100 crypto index member which made the biggest jump in our ranking last two weeks.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth.
In the previous report, our assumption was that a more likely course for the past week would be a move to the lower Bollinger and retest the support near 800 points. On the NWST1100 chart, we can see, that index succumbed to bearish pressure, support did not hold, so index plummeted by 20%. Breadth indicator McClellan summation index and ADVP a breadth statistic based on Net Advancing Volume were declining.
Looking ahead to the next week: The indicators give us the following signals: we can see that RSI is 16 and oversold, the brown PPO histogram bars (blue arrow) could change the slope to positive in the next few days. That would be a sign of weaker downside momentum. Breadth indicator McClellan summation index is declining. This set up is the basis, that in my opinion for the next week likelihood of a rebound to 10-days EMA is similar to the short culmination of a negative trend with a rapid decline and also a quick rebound of support 1.
Performance of different groups of Digital Assets (Coins and Tokens)
At the table, you can see that Total (NWST1100) index plummeted by 19.30% in the past week.
Crypto (Digital Assets) compared with global equity
On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with average global equity represented by Dow Jones global index W1Dow. This year average crypto vs. W1Dow soared over 44% but over the past 15 weeks, we were observing a pullback. Last week NWST1100 plummeted vs. W1Dow.
Indexes Revision 9-27-2019
The Bi-weekly revision update both, the amount of each asset publicly available and any additions and deletions from the indexes. On the tables below there are additions and deletions from NWSL100, and NWSM200. As we can see on the tables ABBC coin, Silverway, Dynamic Trading Rights … have improved their rankings they were added to NWSL100 and deleted from NWSM200. IPCChain, Aeternity, Ziliga … were deleted from NWSL100. They are new members of NWSM200. New mid-caps are MineBee, DxChain, Clipper Coin … Other additions and deletions this week for the other indexes from the family are available here.
We select the member in the NWSL100 crypto index with the biggest jump in our ranking. Considering an investor’s point of view, peer comparison should be efficient and effective. To make appropriate peers comparison we gauged the Dynamic Trading Rights (DTR) token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). Looking at the chart below, at the top we can see the DTR vs. NWSL100, in the middle of the chart is original DTR price, at the bottom of the chart are NWSL100 and correlation between DTR and NWSL100. However, the correlation graph gives us an explanation that for 40% of the time, it was moving in the opposite direction as the NWSL100. In the last four months, he has not been a typical representative of the NWSL100 index in terms of price changes. Since the beginning of August DTR has grown and beaten the NWSL100, it has soared by more than 240%.
Dynamic Trading Rights (DTR) Website: https://www.tokens.net/
2100NEWS DA Orderbook Quality Evaluation Grade: Good: 14.9, (Average for Large caps: 10.2)
Over the past week, the average market cap was 54.3 million $, average daily volume was 0.14 million $.
Dynamic Trading Rights is an innovative digital currency platform featuring security, reliability and transparent transactions. Dynamic Trading Rights serves as a marketplace to exchange ERC20 tokens and other cryptocurrencies that are predicted to grow in the future.
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— Tokens.net (@TokensNet) September 17, 2019