The NWST1100 index fell 7.4% over the previous week; it got rejected from the resistance level. We briefly evaluate crypto markets in 2021. Oasis Network (ROSE) Coin 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 that our assumption for the last week had been: a continuation of the Santa Claus Rally was likely, and the target might be pivot P. The NWST1100 chart shows that the index got rejected from the resistance level represented by the upper edge of a parallel channel. A spike in selling sent the index towards the channel’s middle. NWST1100 sits at a make-or-break point on one of the most significant support levels (143-Days EMA). The Momentum indicators at the top show: RSI, PPO lines, and PPO histogram. They changed direction to downward. The Breadth indicators at the bottom of the chart have flattened.
This weekly report is the first report of the year 2022, and we briefly evaluate crypto markets in 2021. The average index price over the last twelve months is 6095. The volume profile is an advanced charting Indicator on the left side of the chart. It displays trading activity and plots a histogram on the chart, revealing dominant and significant price levels based on volume. It shows that the vast majority of volume was made between 6.650 and 7.125 points. The crypto markets were dominated by growth for the first four months. The progress of existing projects based on Ehtereum convinced investors. The Intermarket relationship chart below shows that the NWSET index led the crypto markets. Since May, crypto markets have been undergoing some consolidation after really massive bullish action. The crypto markets declined over the last two months of the year 2021.
The chart on the right shows The percentage of digital assets trading above a 50-days moving average breadth indicator: Two A50R lines are oversold, and two (Ethereum Tokens and Large caps) are not. Breaching such a critical oversold zone could ignite a sell-off that resumes declining. However, bulls need to hold ground.
* 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 37; RSI, PPO histogram, and PPO lines may change direction in the coming days. My opinion is based on this setup: A move up from resistance represented by 143-days EMA is likely. If bulls will not hold the ground, a decline to support S1 is possible.
Performance of various groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index fell 7.37% during the previous week. All 2100News indexes have declined during the last two months.
Crypto Cycle and the Intermarket relationships
We can see on the chart below, the best performing index in 2021 was NWSET (+533%), which measures 100 significant (by market capitalization) Ethereum based tokens’ performance. The worst performer on the chart is Bitcoin (59.45%). The chart below shows six stages in 2021:
Stage 1: The tokens built on Ethereum led the markets (On the left side of the chart: NWSET100 outperformed Ether, Coins, and Bitcoin)
Stage 2: Ether led the crypto markets in April and May
Stage 3: Coins declined almost 60% (Jun to Jul-17)
Stage 4: Coins led the rebound
Stage 5: Bitcoin rally (ATH in October)
Stage 6: Crypto markets declined (November and December – on the right side of the chart)
The chart below shows that since May-11, the 2100NEWS DA Indexes, which measure the performance of Ethereum based tokens (NWSET100), Large caps (NWSL100), Coins (NWSCo100), and Ether and Bitcoin have reported losses between -6.94% and -31.94%.
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 eight weeks ago; however, it is 29.4% lower now. The Percentage Change Marks on the chart show that NWST1100 outperformed W1Dow by 158% over the last 12 months, NWST1100 was 203% 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 12.4% 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 12.4% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom is W1Dow.
Indexes Revision 12-31-2021
The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. Oasis Protocol improved its ranking; it was added to NWSL100 and deleted from NWSM200. Radix Protocol was deleted from NWSL100. New mid-caps are TonCoin, OKEXChain, Decentralized Social, … Additions, and deletions for the other indexes from the family are available in each index presentation.
We gauged the Oasis Network (ROSE) Coin 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 ROSE has shown that ROSE was more potent over the last two months, and ROSE has beaten NWSL100 by 148% during the previous two months. First, let’s compare the ROSE green area graph with the index (orange area graph) while observing the correlation graph. The correlation graph explains that the correlation is weak (Pearson’s correlation coefficient = -0.27). However, 70% of the time, it was moving in the same direction as the NWSL100. So, it has been a poor 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 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.
Oasis Network (ROSE) Website: https://oasisprotocol.org/
ROSE Large-cap Coin is 83rd in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSCo100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor, 13.2 (Average for Large caps: 16.7)
Over the last week, the average market cap was 1,284.8 million $, and the average daily volume was 224.4 million $.
The Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can redefine not only DeFi but also create a new type of digital asset called Tokenized Data that can enable users to take control of the data they generate and earn rewards for staking it with applications — creating the first-ever responsible data economy.
*The chart below shows the ROSE compared to NWSL100 at the top, the box in the middle of the chart shows the original ROSE price, and at the bottom of the chart, we see NWSL100 and the correlation between ROSE and NWSL100.