2100NEWS WEEKLY CRYPTO REPORT Sep-11

The NWST1100 index has surged by 6.73% over the previous week. Flux (FLUX) Large-cap Ethereum-based Token is a member of the NWSL100 crypto index, making the most significant jump in our ranking over the last two weeks.

*Below, we present a standardized weekly report and next week’s outlook, prepared based on Swingtum Theory of intelligent finance. We gauge the crypto market’s breadth and direction by showing charts 2100NEWS Digital Assets Total Index (NWST1100), which measures 1100 (by market capitalization) significant 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 last week’s assumption. “The NWST1100 price was on the verge of a bearish continuation; it would test support, but a rebound to pivot P was likely.” The assumption proved to be correct. The NWST1100 chart shows the index price tested the support and has rebounded to pivot P by the end of the week. The chart shows momentum indicators: RSI, PPO histogram, PPO lines (at the top), and the breadth indicators at the bottom.  They have risen.

The chart on the right shows The percentage of digital assets trading above a 50-day moving average breadth indicator: All four A50R lines moved out of the oversold territory. Possible is a rebound like in October 2021.

* 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:

1. 100 Large-caps members of NWSL100 (top box)
2. 1100 members of NWST1100
3. 100 Ethereum Tokens members of NWSET100
4. 100 Coins members of NWSCo100 (bottom box)

Outlook for this week

The waves are at least partially predictable due to their quasi-periodic nature. If we look ahead, the Momentum indicators give us the following signals: RSI is 57; RSI, PPO lines, PPO histogram, and the breadth indicators at the bottom of the chart may continue rising in the next few days. The index price rebounded from solid support (2500 points). Based on this setup, I think the NWST1100 rally with a move near Resistance R1 (+10%) is likely.

Performance of various groups of Digital Assets (Coins and Tokens) 

The table shows that the total (NWST1100) index has surged by 6.73% over the last week. On the chart below, we can see Bitcoin, Ether, and the 2100NEWS Indices, which measure the performance of Ethereum-based tokens (NWSET100), Large caps (NWSL100), and Coins (NWSCo100). Ether has been the best-performing during the previous thirty days (-7.22%).

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 ten months ago; however, it is 66% lower now. The Percentage Change Marks on the chart show that NWST1100 lagged behind  W1Dow by 53.5% over the last 12 months, while this year, NWST1100 was 52.5% lower. The blue curve is the average index price during the previous twelve months. We can see that the NWST1100 spot price is 48.2% lower than twelve months index’s average price. That means: If we bought one NWST1100 every day over the last twelve months, our investment is recording a 48.2% loss today; however, more important for the future is that this level is a bargain. Global equity (W1Dow) spot price is 9.7% lower than twelve months index’s average price.

*The box in the middle of the chart shows the original NWST1100 price; at the bottom is W1Dow. 

Indices Revision 9-9-2022

The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. Flux improved its ranking; it was added to NWSL100 and deleted from NWSM200; Amp was deleted from NWSL100. New mid-caps are Terra Classic, Baby Doge Coin, Lazi Fan Token, etc. Additions and deletions for the other indices from the family are available in each index presentation.

Winner member

We gauged the Flux (FLUX) Large-cap Ethereum-based Token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison. On average (violet area chart), the relationship between NWSL100  and FLUX has shown that FLUX was more potent over the last two months, and FLUX has beaten NWSL100  by 150% during the previous two months. First, let’s compare the FLUX green area graph with the index (orange area graph) while observing the correlation graph. The correlation graph explains the weak correlation (Pearson’s correlation coefficient = 0.41). 72% of the time, it was moving in the same direction as the NWSL100. So, it has been a poor representative of the NWSL100 index regarding price changes.

*We elect the member of the NWSL100 crypto index with the most significant jump in our ranking. We will examine how the market rates the project’s progress in case of price changes. It seems important to us whether the project is out of the ordinary tide of crypto project prices. Peer comparison should be efficient and effective, considering an investor’s point of view. 

Flux (FLUX) Website: https://runonflux.io/

Flux (FLUX) Large-cap Ethereum-based Token is 92nd in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100

2100NEWS DA Orderbook Quality Evaluation Grade:  Poor, 15.6 (Average for Large caps: 17.2)

Over the last week, the average market cap was $313.1 million, and the average daily volume was $35.6 million.

*The chart below shows the FLUX compared to NWSL100 at the top, the box in the middle of the chart shows the original price, and at the bottom of the chart, we see NWSL100 and the correlation between  FLUX and NWSL100.