The NWST1100 index has risen by 0.78% over the previous week. Reserve Rights (RSR) 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 the Theory Swingtum 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 fourth test of the support (lower) trendline was likely. Break or rebound, that was the question; the odds have been equal.” The NWST1100 chart shows the index price was in the narrow range last week; it had rebounded to Pivot P and fell by the end of the week. The index price formed a symmetrical triangle. The chart shows momentum indicators: RSI, PPO histogram, and PPO lines (at the top) changed direction (downward); the breadth indicators at the bottom have fallen. The advance-decline volume statistics (ADVL), which favor large-caps, have experienced a sharp decline (signaling a selling pressure).
The chart on the right shows The percentage of digital assets trading above a 50-day moving average breadth indicator: All four A50R lines are oversold. The overall trend remains down.
* 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
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 44; RSI, PPO histogram, and PPO lines may continue falling; however, a rebound in the middle of the week is possible. The breadth indicators at the bottom of the chart may flatten in the next few days. Based on this setup, I think the fourth test of the support (lower) trendline is likely. Break or rebound? The odds are equal.
Performance of various groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index has risen by 0.78% over the last week. In 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). Bitcoin has been the best-performing during the previous thirty days (-0.29%).
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 eleven months ago; however, it is 66% lower now. The Percentage Change Marks on the chart show that NWST1100 lagged behind W1Dow by 57.8% over the last 12 months, while this year, NWST1100 was 53.4% lower. The blue curve is the average index price during the previous twelve months. We can see that the NWST1100 spot price is 50.8% 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 50.8% loss today. Global equity (W1Dow) spot price is 16.9% 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 10-7-2022
The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. Reserve Rights improved its ranking; it was added to NWSL100 and deleted from NWSM200; Gnosis was deleted from NWSL100. New mid-caps are GMX, Galxe, Decentralized Social, etc. Additions and deletions for the other indices from the family are available in each index presentation.
We gauged the Reserve Rights (RSR) 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 RSR has shown that RSR was more potent over the last two months, and RSR has beaten NWSL100 by 56% during the previous two months. First, let’s compare the RSR 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 = 0.17). 90% of the time, it was moving in the same direction as the NWSL100. So, it has been an ordinary 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.
Reserve Rights (RSR) Website: https://reserve.org/
Reserve Rights (RSR) Large-cap Ethereum-based Token is 78th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100
2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary, 15.2 (Average for Tokens: 15)
Over the last week, the average market cap was $380.5 million, and the average daily volume was $74.3 million.
The Reserve Protocol is a decentralized stablecoin system that scales supply with demand and is built to maintain 100% or more on-chain collateral backing. This design strikes a careful balance between stability, decentralization, and profitability while supporting arbitrary increases or decreases in demand. The Reserve Protocol can be implemented on top of any smart contract platform. It could be operated on its own chain, but it benefits from locating itself where collateral tokens are most liquid.
*The chart below shows the RSR 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 RSR and NWSL100.