In the last week, after a quick run-up the week before we were observing consolidation which had big oscillations. Crypto market experienced a slight price slump likely just a healthy correction. Total (NWST1100) index was practically unchanged. WAX (WAX) is the NWSL100 crypto index member which made the biggest jump in our ranking. In the 2100News weekly crypto report, we try to understand why the crypto universe is as it is in order to understand where we go. 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.
We can see on the (NWST1100) chart, that after a quick run-up of almost 30% the week before we were observing consolidation which had big oscillations, the markets lost up to 10% in a very short time. After all the crypto market experienced a slight price slump in the past week, likely just a healthy correction.
Looking ahead to the next week. The indicators give us the following signals: we can see that RSI is bullish. PPO histogram could become positive in the next few days, so the PPO wave could go up. Breadth indicator McClellan summation index is falling, ADVP a breadth statistic based on Net Advancing Volume is rising. This set up means that we expect markets to make a wave up in the consolidation to strong, important resistance which is on the chart marked with the green dashed line.
Performance of different groups of Digital Assets (Coins and Tokens)
Looking at the table, you can see that Total (NWST1100) index was practically unchanged last week. Tokens represented by 2100NEWS DA Ethereum Based Index (NWSET100), has been the worst performing index last week, it fell by about 6% but at the chart below we can see that NWSET100 experienced a correction after a big move up in the last two months when it was the best performing index.
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. This year average crypto vs. W1Dow rose about 16%, last two months crypto had much better performance than global equity.
Indexes Revision 4-12-2019
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 NWSM200. As we can see on the table, new mid-caps are IHT Real Estate Protocol, EDUCare, Tripio… Other weekly 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. We can see from the chart that WAX(WAX) has performed better than average coin or token which is a member of NWSL100 index, its price performance has soared by about 45% vs. NWSL100 since the beginning of March.
2100NEWS ranking: 84, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100
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