The NWST1100 index rose 5.00% during the last week. 2100NEWS indexes topped two weeks ago and have trended sideways during the previous 30 days.
*Below, we present a standardized weekly report and next week’s outlook. We gauge the crypto market’s breadth and direction by showing charts 2100NEWS Digital Assets Total Index (NWST1100), which measures 1100 (by market capitalization) major crypto assets’ performance. 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: markets could continue the consolidation; the index could get stuck in a narrow range with support in Pivot P (-6%). The NWST1100 chart shows that the index moved in a limited range. Indicators at the top show: PPO lines and RSI (they have fallen). PPO histogram has flattened out. The Breadth indicators at the bottom of the chart have fallen, too.
The chart on the right shows The percentage of digital assets trading above a 50-days moving average breadth indicator: All A50R lines were at the midpoint. The graph tells us that the sideways trend has been in place.
* 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 51 (at the midpoint); PPO histogram bars, PPO lines, RSI may continue falling in the coming days, as the Breadth indicators, at the bottom of the chart. My opinion is based on this constellation: the index price may test the level of Fibonacci resistance and Pivot P (-10%); if that level does not hold, the index could go deeper (resistance S1. -20%); however, from S1 immediately a sharp rebound will follow. S1 is the turning point at which the downward trend would begin.
Performance of different groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index rose 5.00% over the last week. The chart shows that all groups of coins and tokens, represented by 2100NEWS indexes, topped two weeks ago and have trended sideways during the previous 30 days.
Crypto (Digital Assets) compared with global equity
The chart compares the performance of the average Digital Asset (Coins, Tokens) represented by our NWST1100 index with the average global share represented by the Dow Jones global W1Dow index. Their quotient hit a record high four months ago; however, it plunged by 27%, which means that shares were a better investment for a while, but this changed two months ago. The Percentage Change Marks on the chart show that NWST1100 outperformed W1Dow by 166.4% this year, while over the last 12 months, NWST1100 was 421% 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 55.2.6% 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 55.2% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom is W1Dow.