Last week, NWST1100 rose 15.7%; index price made its journey toward the resistance R1 inside the ascending channel. FC Barcelona Fan Token (BAR) is a member of the NWSL100 crypto index that made the most significant jump in our ranking over the last two weeks.
*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 last week had been: a move upward was more likely; index price might test an all-time high and then continue to resistance R1 (1o percent rise). The NWST1100 chart shows that the assumption proved to be correct. Index price made its journey toward the resistance R1 inside the ascending channel. Momentum indicators at the top show: RSI, PPO histogram, and PPO lines continued direction upward, the Breadth indicators at the bottom of the chart have flattened out.
The chart on the right shows: three A50R lines were overbought (NWSL100, NWSET100, NWSCO100). A50R line of NWST110 is close to the midpoint and shows a lack of bullish momentum so that crypto markets could remain stuck in a range.
* 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 RSI is 76 (bullish and oversold); PPO histogram bars, PPO lines, RSI, and the Breadth indicators, at the bottom of the chart, may change direction to downward in the coming days. My opinion is based on this constellation: The price inside the ascending channel may turn down like on three previous occasions. Bears may pull the price to pivot P (15 percent fall).
Performance of various groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index rose 15.7% during the last week. Indexes topped last week. The chart shows that Ether led the markets; Coins, represented by the NWSCo100 index, were the best performing group; Bitcoin’s gain was legging during the last month.
Crypto (Digital Assets) compared with global equity
The superiority of crypto investments as a new investment class was continued. 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. Their quotient hit a record high two weeks ago. The Percentage Change Marks on the chart show that this year NWST1100 outperformed W1Dow by 235.6%, while over the last 12 months, NWST1100 was 677% higher. The blue curve is the average index price during the previous twelve months. We can see that the NWST1100 spot price and W1Dow price are above average, but the NWST1100 spot price is 232% 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 232% 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 5-7-2021
The Bi-weekly revision update both the amount of each asset publicly available and any additions and deletions from the indexes. PancakeSwap, FC Barcelona Fan Token, and WeStarter improved their rankings; they were added to NWSL100, so they were deleted from NWSM200. Kava, TomoChain, and Enjin Coin were deleted from NWSL100, and they are new members of NWSM200. New mid-caps are Juggernaut, Hydra, Neutrino System Base Token … Other additions and deletions this week for the other indexes from the family are available in each index presentation.
We gauged the FC Barcelona Fan Token (BAR) with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison. On average (violet area chart), the relationship between BAR and NWSL100 has shown that it was more potent over the last three months. BAR has outperformed NWSL100 by 8.8% during the previous three months. However, let’s compare the BAR green area graph with the orange index area graph while observing the correlation graph. The correlation graph explains that the correlation is weak (Pearson’s correlation coefficient = 0.35). However, 65% of the time, 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 most significant 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.
FC Barcelona Fan Token (BAR) Website: https://www.fcbarcelona.com/
BAR Large-Cap Non-Ethereum Token 59th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTO100, NWSOT50
2100NEWS DA Orderbook Quality Evaluation Grade: Poor, 10.6 (Average for Tokens: 16.4)
Over the last week, the average market cap was 110.2 million $, and the average daily volume was 17.8 million $.
FC Barcelona Fan Token is the fan token on Socios – a new app for football fans, where you acquire voting rights to influence the clubs you love. Every club that joins Socios.com generates a supply of Fan Tokens, blockchain-secured digital assets that give you the right to vote on club matters. When you own Fan Tokens, you join a pool of supporters whose collective decision-making power is absolute. As well as voting rights, Fan Tokens serve as your ‘membership card’ to access rewards, merchandise & experiences, including leaderboards, games, and much more.
*The chart below shows the BAR compared to NWSL100 at the top, the box in the middle of the chart shows the original BAR price, and at the bottom of the chart, we see NWSL100 and the correlation between BAR and NWSL100.