Over the last week, NWST1100 rose 2.83%; non-Ethereum Tokens were the best performing digital assets the previous week and this year.
*Below, we present a standardized weekly report and next week’s outlook. 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 essential price information, crucial decisive price levels, momentum, trading volumes, and crypto market breadth.
The previous report showed that our assumption for the last week had been: a consolidation and move upward in a more significant sideways trend was more likely, index price might hoover near 10-Days EMA. The NWST1100 chart shows that the assumption proved to be correct. Momentum indicators at the top show: PPO histogram changed direction (up); RSI and PPO lines have flattened. The Breadth indicators at the bottom of the chart have continued falling.
The chart on the right shows: All four A50R lines were overbought. They may support a move upward.
* 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
If we look ahead, the Momentum indicators give us the following signals: the RSI is 58; PPO histogram bars may continue direction (up), PPO lines, and RSI may change direction (up) in the coming days. The Breadth indicators, at the bottom of the chart, may continue falling. My opinion is based on this constellation: a consolidation and move upward in a more significant sideways trend is more likely, index price may test the resistance R1 (+10%). Crypto markets will be volatile, with up to 10 percent falls.
Performance of different groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index rose 2.83% during the last week and that non-Ethereum Tokens were the best performing digital assets the previous week and this year. However, the table and the chart below show that Bitcoin, Ether, Coins, and Tokens have experienced a consolidation last two weeks.
Crypto (Digital Assets) compared with global equity
We have already shown the superiority of crypto investments as a new investment class. 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. A record high was hit three weeks ago. The Percentage Change Marks on the chart show that this year NWST1100 outperformed W1Dow by 105.4%, while during the previous 12 months, NWST1100 was 415% higher. The blue curve is the average index price in the last twelve months. We can see that the NWST1100 spot price and W1Dow price are above average, but the NWST1100 spot price is 207.6% higher than twelve months index average price. That means: If we bought one NWST1100 every day over the last twelve months, our investment is recording 207.6% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom of the chart is W1Dow.