2100NEWS WEEKLY CRYPTO REPORT
Written by Indira on January 14, 2019
We analyze and gauge the entire crypto market with 2100NEWS DA (Digital Assets) Indexes, Factor Indexes, and Crypto Market Breadth Indicators in the 2100News weekly crypto report. We measure the crypto market to understand why the crypto universe is as it is in order to understand where we go. We want to know how things work, what is beyond what we see and know? There is something beyond when we discover the laws of the functioning of the crypto universe.
In the last Weekly Crypto Report, I said that the market is always moving in the waves, the wave of PPO histogram showed that it could follow a few days of an extended positive wave because PPO headed into positive. That happened. The struggle to close above a key resistance level has left the asset vulnerable to shorts and increasing sell-pressure. Based on the indicators, one can see that traders are clueless at that point, which leaves the path of least resistance to the downside. Technically, as you can see on the above chart and left PF chart 2100NEWS Digital Assets Total Index (NWST1100) redline (neckline) support did not hold.
Looking ahead to next week. The market is always moving in the waves, the wave of PPO histogram shows that it can follow a few days of a negative wave because PPO headed into negative. We use a combination of several methods and look for confluence. ADVL and McClellan summation index – Breadth indicators are slightly declining. Therefore, for the next few days, there is a greater likelihood that index value will move down to the target which is marked on the chart on the left. On the downside, there are supports near 350 points. On the upside, it is a little less likely that the breakthrough was only a bear trap, but it is possible that in a day or two prices will return above the neckline support and will start an up move. Depends on the market reaction to ETH fork Constantinople.
Performance of different groups of Digital Assets (Coins and Tokens)
Last week we saw move down inside the sideways trend. Bears had more dominance in the crypto market as bulls went back into sleep mode. On the table below, you can see that digital assets with small or micro market capitalization were the worst performing group last week. Total (NWST1100) index dropped by almost 7% last 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. As you can see since November 13th crypto has lost the ground vs. global equity. Last week crypto vs. W1Dow lost more than 10%.
Indexes Revision 1-11-2019
The 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 that two DA changed their membership. REPO has improved its rankings it was added to NWSL100 and deleted from NWSM200. Mithril was deleted from NWSL100. It is a new member of NWSM200. New mid-caps are EvenCoin, Boolberry, Tripio… Other weekly additions and deletions this week for the other indexes from the family are available here.
We select the member in NWSL100 crypto index with the biggest jump in our ranking. We can see from the chart that ODEM (ODE) has performed better than average coin or token which is a member of NWSL100 index. Since the start of Christmas rally, its price performance is 40% better than NWSL100.
|2100NEWS ranking: 63, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100|
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— ODEM (@ODEM_IO) January 8, 2019