Over the last week, NWST1100 fell by 0.87%. Much more Coins were involved in the growth; they lead the wider upward shift in the crypto markets. Coins represented by the NWSCo100 index were the best performing digital assets over the last week, two weeks, a month, and two months.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100), representing the top 1100 Digital Assets. The information-laden chart is difficult to read initially, 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 the last week had been: a move upward was more likely, but fairly large and sudden pullback (10%) was increasingly likely. The NWST1100 chart shows that the assumption proved to be correct; the index had moved up and topped on Wednesday, then crypto markets experienced a healthy pullback. Momentum indicators at the top: PPO lines, PPO histogram, and RSI changed direction.
Three of the four A50R lines were overbought. The current bull phase has matured. NWST1100 A50R line shows that there is still room for further growth. Much more Coins were involved in the growth; they lead the wider upward shift in the crypto markets.
* 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. 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)
Outlook for this week
Looking ahead, the Momentum indicators give us the following signals: the RSI is 68 (bullish); Breadth indicators may continue direction; PPO lines may change direction in the coming days. This constellation is the basis for my opinion: an upward move is more likely (Bitcoins test all-time high), but the pullback could be up to 20%.
Performance of different groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index fell by 0.87%. Over the last week, two weeks, month, and two months Coins represented by the NWSCo100 index were the best performing digital assets group; they have led crypto markets upwards.
Crypto (Digital Assets) compared with global equity
We have already shown the superiority of crypto investments. We reviewed various timespans for objectivity; however, the chart shows that crypto investments are superior in various timespans. The chart below 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 show that this year NWST1100 topped W1Dow by 178.7%, while over the last 12 months, NWST1100 was 113.6% higher. The blue curve is the average index price over the last twelve months. We can see that the NWST1100 spot price is 79.4% 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 79.4% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom of the chart is W1Dow.