Last week, NWST1100 soared 12.29%, the index price moved to resistance R1. The bullish momentum may lead the index to test the previous high. Vitae (VITAE) Coin is a member of the NWSL100 crypto index that made the biggest jump in our ranking over the last two weeks.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represents the top 1100 Digital Assets. The information-laden chart is difficult to read at first glance but the chart shows key price information, important decisive price levels, momentum, trading volumes, and crypto market breadth.
The previous report showed that our assumption for last week had been: the sideways trend was more likely, but the index could attempt to move up to R1. The NWST1100 chart shows that assumption proved to be correct. The index price had hoovered during the first four days of the week then moved up to R1. At the top we see momentum indicators: PPO lines, RSI, and PPO histogram have risen. The chart on the right side compares the percentage of DA trading above 50 days EMA for:
- 100 Large-caps members of NWSL100 (top box)
- 1100 members of NWST1100
- 100 Ethereum Tokens members of NWSET100
- 100 Coins members of NWSCo100 (bottom box)
over the last 10 months. All four A50R lines are near the green oversold border. *The percentage of digital assets trading above a specific moving average is a breadth indicator that measures internal strength or weakness in the underlying index.
Outlook for this week
Looking ahead, the Momentum indicators give us the following signals: the RSI is 73 (bullish); PPO lines and PPO histogram bars may continue direction (up) in the coming days. The Breadth indicators, at the bottom of the chart, may slope positively. The volume profile is an advanced charting Indicator on the left side of the chart. It displays trading activity and gives a clear indication of what was bought and sold at those current levels. It is extremely versatile and can be used for finding areas where we can expect rapid price movements. Although the index price has already risen considerably, all four A50R lines show that there is still a lot of room for further growth (like the last ten days in April). This constellation is the basis for my opinion: a move upward is more likely, the bullish momentum may lead the market to test the previous high (1.237 points), the index could even reach R2 resistance.
Performance of different groups of Digital Assets (Coins and Tokens)
The total (NWST1100) index soared 12.29%. The table below shows, that the coins represented by the NWSC100 index have recorded the biggest gains over the last week and over the last thirty days.
Crypto (Digital Assets) compared with global equity
With such a chart, we have already shown the superiority of crypto investments as a new investment class. For the sake of objectivity, the chart shows that crypto investments are superior over various timespans. The chart compares the performance of the average represented by our NWST1100 Digital Asset index with the average global share represented by the Dow Jones global W1Dow index. The Percentage Change Marks on the chart shows that this year NWST1100 outperformed W1Dow by 89.1% while over the last 12 months, NWST1100 was 31.7% higher. The blue curve is the average index price over the last twelve months. We can see that the NWST1100 spot price and W1Dow price are above average, but the NWST1100 spot price is 41.8% higher than twelve months index average price. This means: If we bought one NWST1100 every day over the last twelve months, our investment is recording 41.8% gains today.
*The box in the middle of the chart shows the original NWST1100 price, at the bottom of the chart is W1Dow.
Indexes Revision 10-23-2020
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 NWS30, NWSL100, and NWSM200. As we can see on the tables UMA, Gatechain Token, and Vitae have improved their rankings they were added to NWSL100, they were deleted from NWSM200. Helium, Monaco, and JUST were deleted from NWSL100, they are new members of NWSM200. New mid-caps are apM Coin, TITAN, HEX… Other additions and deletions this week for the other indexes from the family are available in each index presentation.
In order to make an appropriate peer comparison, we gauged the Vitae (VITAE) Coin with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). On average (violet area chart), the relationship between VITAE and NWSL100 has shown that it was stronger. VITAE has beaten NWSL100 by 61.74% over the last three months. However, if we compare the VITAE green area graph with the orange index area graph while observing the correlation graph, the correlation graph gives us an explanation that the correlation is weak (Pearson’s correlation coefficient = 0.09). It was moving in the same direction as the NWSL100. So, it has been an ordinary representative of the NWSL100 index in terms of price changes.
*We elect the member of the NWSL100 crypto index with the biggest jump in our ranking. We will look at how the market, rates the progress of the project in case of price changes. It seems important to us whether the project is out of the ordinary tide of crypto project prices. Considering an investor’s point of view, peer comparison should be efficient and effective.
Vitae (VITAE) Website: https://www.vitetoken.io/
VITAE Large Cap Coin is 83rd in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSCo100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor: 13.9 (Average for Largecaps: 17.3)
Over the last week, the average market cap was 71.5 million $, the average daily volume was 1.1 million $.
Vitae is a Utility token for our Social Rewards Website. Providing ease within the platform for members to create income in the form of Vitae Tokens. This facilitates a need for individuals to create a better lifestyle and prosperity.
*The chart below shows the VITAE compared to NWSL100 at the top, the box in the middle of the chart shows the original VITAE price, and at the bottom of the chart we see NWSL100 and the correlation between VITAE and NWSL100.