2100NEWS WEEKLY CRYPTO REPORT

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Over the past week, the Total index rose to its peak in the middle of the week, it was trading at its 10-days EMA but has lost traction at or above that price points. Then it was hovering near the lower trendline. NWST1100 increased by 2.4%. It may be that decoupling is ended for a while.

*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, it was said that our assumption has been: that move to the upper trendline was likely. On the NWST1100 chart, we can see, that index rose to its peak in the middle of the week, it was trading at its 10-days EMA but has lost traction at or above that price points. Then it was hovering near the lower trendline.

Looking ahead to the next week, chart patterns show us Symmetrical triangle. The direction of the next major move can only be determined after a valid breakout in the next week. The indicators give us the following signals: we can see that RSI is 44, the PPO wave was flattening out but could change the slope. The brown PPO histogram bars could change a slope and start the positive wave in the next few days, as a momentum indicator could get upside momentum. Breadth indicator McClellan summation index and ADVP a breadth statistic based on Net Advancing Volume are raising. This set up means that our assumption is that a more likely course for the next week is a move to the upper trendline. 

Performance of different groups of Digital Assets (Coins and Tokens)

Looking at the table, you can see that Total (NWST1100) index increased by 2.4% in the past week. 

Digital Assets decoupling

The breakdown of the market into groups represented by 2100NEWS DA indexes enables us to measure decoupling much more accurately than can do others who do not have the tools in the form of a full range of indexes. Two weeks ago it was said that Large-caps (AltCoins) were in the confirmed bearish trend. Large-caps prices did not follow Bitcoin and Ether represented by NWSBE index. On the 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) chart below we can see a falling wedge which is a bullish pattern. Breadth indicator McClellan summation index (blue arrow in the bottom box) shows that a more likely course for the next week is a move up. It may be that decoupling is ended for a while.

 

 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 to near 90% but over the past 11 weeks, we were observing a sideways trend and consolidation.

 

 

 

 

 

 


About us

We are the new economy news hub. 2100NEWS is the professional index, data, and tools provider in the digital asset space, offering Crypto Market Intelligence, providing the perspective you can trust and equipping you with information edge you need to stay ahead. (Real-time data of token issuers and news, analysis and commentary from community.) We are very excited to contribute to the evolution of the industry and build an ecosystem around our offering (the institutional-grade data infrastructure required to enable institutional investments in digital assets). We want our contributions (Contents and Tools on 2100NEWS.com) to be useful for helping investors.


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