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The NWST1100 index has fallen by 2.55% from the previous week. ORDI (ORDI),  a Large-cap Non-Ethereum-based Token, is biweekly making the most significant leap in rank within the NWSL100 crypto index.

*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 complex to read initially, but the chart shows essential price information, crucial decisive price levels, momentum, trading volumes, and crypto market breadth. 

Based on our previous analysis, where we predicted that the market would consolidate and stay above level R1, we have conducted a detailed examination of the NWST1100 chart, a vital metric for the cryptocurrency market. Our thorough review of various indicators has yielded a plethora of salient observations:

1. The NWST1100 index’s trajectory shows a consolidation phase following notable gains.
2. Market sentiment suggests caution: The PPO lines have declined. The PPO histogram crossed the zero line and has a downward slope, which can be a precursor to a potential trend reversal. The Relative Strength Index (RSI) trajectory has changed direction to downward.
3. We are shifting our focus to the Crypto Market Breadth indicators at the bottom of the NWST1100 chart. The Advance-Decline Line (ADVL) flattened out. The McClellan Summation Index has started declining.

Considering

I have reviewed various indicators on the NWST1100 chart, considered a vital metric for the cryptocurrency market. Based on my observation, the chart is currently in a consolidation phase after significant gains. However, market sentiment suggests caution as the PPO lines have declined, and the PPO histogram has a downward slope, indicating a potential trend reversal. Additionally, the RSI trajectory has changed direction to downward. As such, we are now focusing on the Crypto Market Breadth indicators at the bottom of the chart. The Advance-Decline Line (ADVL) has flattened out, and the McClellan Summation Index has started declining.

Considering these insights, it is crucial to note that while a significant part of the market is experiencing bullish sentiment, it raises caution that could lead to a retraction as the market seeks to balance out.

According to the chart on the right, all four A50R lines have settled in the overbought territory. This breadth indicator measures the percentage of digital assets trading above a 50-day moving average. The current condition suggests that a substantial portion (over 85%) of the cryptocurrency market trades above its 50-day EMA (at relatively high levels compared to their short-term moving averages). Yet, being in this zone doesn’t necessarily mean the market will drop, but it signals the potential for a retraction as the market attempts to find equilibrium.

*This breadth indicator is essential in measuring the internal strength or weakness of the underlying index. Looking at the chart on the right side, we can see the A50R lines for four different categories of digital assets:

1. The top box shows the A50R lines for 100 Large-cap members of NWSL100.
2. The middle box displays the A50R lines for 1100 members of NWST1100, which is the Total Index measuring the performance of significant crypto assets based on market capitalization.
3. The third box shows the A50R lines for 100 Ethereum Tokens members of NWSET100.
4. The bottom box represents the A50R lines for 100 Coins members of NWSCo100.

Outlook for this week

This report aims to provide insights into the cryptocurrency market’s near-term outlook. While complete predictability remains challenging, the market waves show some degree of predictability with discernible patterns in market behavior. By examining momentum indicators, several signals emerge that offer insights into the potential direction of the market in the short term.

1. The crypto market may follow a similar pattern to those observed in February and March, as marked by ellipses on the provided chart.
2. The RSI (Relative Strength Index) has exited overbought conditions, with a 64 reading suggesting a cooling market.
3. The PPO lines may continue on a descending trajectory, but there is a possibility that the falling histogram may change direction and move upward. This could indicate a potential reversal or slowing down of downward momentum.
4. The Breadth indicators at the bottom of the first chart (NWST1100) point toward market consolidation or decline. A descending McClellan Summation Index, derived from the McClellan Oscillator, underlines the possibility of range trending.
5. As the seasonal pattern associated with Thanksgiving diminishes this week, other indicators will influence the market’s consolidation.

Considering the consolidation signals from the technical indicators, a cautious perspective suggests that the market may enter a consolidation phase within a specific range. With the fading of Thanksgiving seasonal trends, a market downturn is possible. However, it’s important to note that the market’s stability will likely remain above a critical support level, previously a resistance level (R1). This support level may lay the groundwork for a potential rebound, as historically observed during the robust December period, often accompanied by a Christmas rally.

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

Investors and traders often rely on historical performance data to make informed decisions about their cryptocurrency holdings. After analyzing the data in the table, the overall index NWST1100 has fallen by 2.55% over the last week, indicating a modest retracement in the broader cryptocurrency market.

The chart below highlights the performance of various cryptocurrencies, such as Bitcoin, Ether, and the 2100NEWS Indices, which represent the performance of Ethereum-based tokens (NWSET100), Large caps (NWSL100), and Coins (NWSCo100). A retrospective view over the last thirty days indicates that Coins represented by the NWSCo100 index have shown the most promising performance, with a gain of 45.81%. While the broader market is experiencing a consolidation, different segments, and individual cryptocurrencies exhibit varied performance dynamics. Ether and certain indices like NWSC100, NWSET100, and NWSL100 are currently leading in momentum, pointing to their strong market performance. In contrast, Bitcoin, NWSBE, and NWWS30 are lagging, showing signs of decreasing momentum. Investors and traders might use this information to adjust their portfolios, possibly shifting focus toward assets with stronger relative momentum while being cautious about those in the Weakening quadrant.

*RRG® charts show you the relative strength and momentum of groups of digital assets. That with strong relative strength and momentum appears in the green Leading quadrant. As relative momentum fades, they typically move into the yellow Weakening quadrant. If relative strength then fades, they move into the red Lagging quadrant. Finally, when momentum picks up again, they shift into the blue Improving quadrant.

Crypto (Digital Assets) compared with global equity

This report offers a comprehensive analysis comparing the performance of digital assets, as signified by the NWST1100 index, to shares on global capital markets, as represented by the Dow Jones Global W1Dow index. The comparison spans various timeframes, offering insights into historical and recent performances and potential future trends.

Let’s break down the key observations and implications:

• Historical Performance Comparison:
  • 24 Months Ago: Digital assets, represented by the NWST1100 index, were outperforming shares on capital markets, represented by the W1Dow index, with a record high quotient between the two indexes. At this juncture, digital assets displayed a notably superior performance trajectory compared to shares on global capital markets.
  • 12 Months Ago: Fast-forwarding to a year back, digital assets had a clear edge, outperforming shares by 57.1%. This performance data accentuates the heightened returns digital assets offered over shares in the specified duration.
• Recent Shift in Performance:
  • An analysis of the present year reveals a stark enhancement in the performance of digital assets. They have surpassed shares on global capital markets by a significant 58.8% margin. This performance data accentuates the heightened returns digital assets offered over shares in the specified duration.
• Mean Reversion Opportunity:
  • The average quotient price over the past 143 working days is plotted as a blue dashed curve (5.54). Currently, this average sits below its long-run mean, hovering around 7.49. Such a deviation underscores a potential opportunity to invest in digital assets, leveraging the mean reversion theory.
  • The mean reversion theory suggests that asset prices, over time, tend to revert to their historical average returns. The current average quotient price below the long-run mean could imply that digital assets are currently undervalued compared to historical trends.
• Returns Comparison:
  • The chart also presents the returns achieved with the stock generated by buying one point of the respective index daily over the past twelve months.
  • The NWST1100 Crypto Index enjoyed a 67.86% appreciation relative to last year’s period. With daily index investments, an investor’s stock would have seen a 28.9% uplift compared to the index’s current price.
  • Contrasting with the crypto index, the DJW, representing global capital market shares, grew by 11.26% over the past year. However, a strategy involving daily purchases would have resulted in a gain of 4.9%.
  • Expectations are rife as we stand at the confirmed bullish trend between digital assets and global capital market shares. Digital assets purchased over the preceding year at an average price of 2635 points seem poised to offer magnified returns compared to shares as we traverse this bullish phase.

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

Indices Revision 11-17-2023

Based on the latest Bi-weekly revision, dYdX, Celestia, FTX Token, Ordinals, and 0x Protocol have improved their ranking and were added to the NWSL100 index. On the other hand, APENFT, UNUS SED LEDO, Enjin Coin, GateToken, and WhiteBIT Coin were removed from the NWSL100 index. Several new mid-cap assets have been added to the NWSM200 index, including Memecoin, Axelar, Kujira, etc. More information about the additions and deletions for other indices in the family is available in each index’s presentation.

Winning member

Congratulations to ORDI (ORDI) for achieving a significant milestone by being recognized as the winning member of the NWSL100 crypto index with the most significant leap in rank within the NWSL100 crypto index. Let’s delve into the details of its performance:

1. Performance in the Last Ten Weeks: ORDI (ORDI) has displayed a growth trajectory that resonated with the 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) performance. However, a significant bullish surge in early November set ORDI apart, reinforcing its independent market dynamics. The violet area chart highlights ORDI’s remarkable achievement, outpacing the NWSL100 index by 366%. This difference in performance underscores ORDI’s resilience and potential in the market.
2. ORDI vs. NWSL100: A comparison of JST’s performance with the NWSL100 index reveals interesting insights. The green area graph represents ORDI’s performance, while the orange area graph illustrates the index’s performance. An overall strong correlation, evidenced by a Pearson’s correlation coefficient of  0.89, implies that while ORDI follows the index trends, it also has independent factors influencing its performance.
3. Convergence in Price Changes: Because of the tendency to move in tandem with NWSL100, ORDI has been a reliable representative of the index regarding price changes. This convergence suggests that ORDI’s price movements have followed the broader market trends represented by NWSL100.

*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. 

ORDI (ORDI) Website: https://ordinals.com/

ORDI Large-cap Non-Ethereum-based Token is 79th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSOT50

2100NEWS DA Orderbook Quality Evaluation Grade:  Poor, 16.2 (Average for Large-caps: 18.5)

Over the last week, the average market cap was $463.6 million, and the average daily volume was $270.8 million.

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

The NWST1100 index has risen by 4.22% from the previous week. JUST (JST),  a Large-cap Non-Ethereum-based Token, is biweekly making the most significant leap in rank within the NWSL100 crypto index.

*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 complex to read initially, but the chart shows essential price information, crucial decisive price levels, momentum, trading volumes, and crypto market breadth. 

Based on our previous analysis, where we predicted that the market would consolidate, we have conducted a detailed examination of the NWST1100 chart, a vital metric for the cryptocurrency market. Our thorough review of various indicators has yielded a plethora of salient observations:

1. The NWST1100 index’s trajectory showing a slowdown in growth pace indicates that the strong upward movement observed earlier may be losing momentum. This could imply that the market is entering a consolidation phase after a period of significant gains.
2. Market sentiment: The PPO lines appear to be flattening, which often occurs when there is a pause in the market after a significant price movement. The PPO histogram has a downward slope, which can be a precursor to a slowdown in the growth rate or even a potential trend reversal. The trajectory of the Relative Strength Index (RSI) has changed direction. However, it has been overbought, indicating that the market could be due for a correction.
3. We are shifting our focus to the Crypto Market Breadth indicators at the bottom of the NWST1100 chart. The Advance-Decline Line (ADVL) showcases an ascent. This indicator hints at a positive market breadth, capturing the disparity between advancing and declining cryptocurrencies. The dominance of advancing cryptocurrencies could bolster the overall market sentiment. Adding to the optimism, the McClellan Summation Index’s climb indicates potential latent positive movements in the market.

Considering these insights, with over 70 percent of cryptocurrencies trading above their 50-day EMA, so residing in the “red overbought territory,” while this indicates that a significant part of the market is experiencing bullish sentiment, it also raises the caution of potential overbought conditions that could lead to a retraction as the market seeks to balance out.

The chart on the right shows that all four A50R lines have been overbought. This breadth indicator measures the percentage of digital assets trading above a 50-day moving average. Yet, being in this zone doesn’t necessarily mean the market will drop. It could show strong momentum pushing the market, much like what was observed at the start of the year. However, it’s also a heads-up that the market might be getting too hot.

*This breadth indicator is essential in measuring the internal strength or weakness of the underlying index. Looking at the chart on the right side, we can see the A50R lines for four different categories of digital assets:

1. The top box shows the A50R lines for 100 Large-cap members of NWSL100.
2. The middle box displays the A50R lines for 1100 members of NWST1100, which is the Total Index measuring the performance of significant crypto assets based on market capitalization.
3. The third box shows the A50R lines for 100 Ethereum Tokens members of NWSET100.
4. The bottom box represents the A50R lines for 100 Coins members of NWSCo100.

Outlook for this week

This report aims to provide insights into the cryptocurrency market’s near-term outlook. While complete predictability remains challenging, the market waves show some degree of predictability with discernible patterns in market behavior. By examining momentum indicators, several signals emerge that offer insights into the potential direction of the market in the short term.

1. The crypto market may follow a similar pattern to those observed in February and March, as marked by ellipses on the provided chart.
2. The RSI (Relative Strength Index) currently stands in overbought territory, with a reading of 80.
3. The PPO lines may soon shift from a flat to a descending trajectory. The falling histogram of the Percentage Price Oscillator may change direction to upward. However, an upward change in the histogram could mean a reversal or slowing down of the downward momentum.
4. The Breadth indicators at the bottom of the first chart (NWST1100) point towards market growth. A rising McClellan Summation Index, derived from the McClellan Oscillator, underlines the possibility of widespread market participation in the bullish sentiment.
5. The seasonal pattern associated with the approach of Thanksgiving, historically correlated with market growth, may provide an upward push, potentially offsetting the consolidation suggested by other indicators.

Considering the consolidation signals from the technical indicators and the bullish seasonal trend, a cautiously optimistic view suggests that while the market shows overbought conditions that could lead to consolidation, seasonal trends could propel the market toward higher resistance levels in the near term. The NWST1100 may move towards the resistance area R1, implying an expectation of continued market growth or at least a test of higher price levels before any potential consolidation.

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

Investors and traders often rely on historical performance data to make informed decisions about their cryptocurrency holdings. After analyzing the data in the table, the overall index NWST1100 has risen by 4.22% over the last week, indicating a modest positive performance in the broader cryptocurrency market.

The chart below highlights the performance of various cryptocurrencies, such as Bitcoin, Ether, and the 2100NEWS Indices, which represent the performance of Ethereum-based tokens (NWSET100), Large caps (NWSL100), and Coins (NWSCo100). A retrospective view over the last thirty days indicates that Bitcoin and Coins (NWSCo100) have shown the most promising performance, with a gain of over 27%. The relative Rotation Graph shows that NWSC100 is improving momentum. Conversely, Bitcoin’s momentum is fading, and it is currently in the yellow Weakening quadrant. Investors might interpret the strong performance of Coins (NWSCo100) as a signal to diversify their portfolios with other cryptocurrencies, not just Bitcoin, to capitalize on potential gains in a broader range of assets.

*RRG® charts show you the relative strength and momentum of groups of digital assets. That with strong relative strength and momentum appears in the green Leading quadrant. As relative momentum fades, they typically move into the yellow Weakening quadrant. If relative strength then fades, they move into the red Lagging quadrant. Finally, when momentum picks up again, they shift into the blue Improving quadrant.

Crypto (Digital Assets) compared with global equity

This report offers a comprehensive analysis comparing the performance of digital assets, as signified by the NWST1100 index, to shares on global capital markets, as represented by the Dow Jones Global W1Dow index. The comparison spans various timeframes, offering insights into historical and recent performances and potential future trends.

Let’s break down the key observations and implications:

• Historical Performance Comparison:
  • 24 Months Ago: Digital assets, represented by the NWST1100 index, were outperforming shares on capital markets, represented by the W1Dow index, with a record high quotient between the two indexes. At this juncture, digital assets displayed a notably superior performance trajectory compared to shares on global capital markets.
  • 12 Months Ago: Fast-forwarding to a year back, digital assets had a clear edge, outperforming shares by 3.1%. This performance data accentuates the heightened returns digital assets offered over shares in the specified duration.
• Recent Shift in Performance:
  • An analysis of the present year reveals a stark enhancement in the performance of digital assets. They have surpassed shares on global capital markets by a significant 51.2% margin, indicating a change in tide and possibly hinting at growing confidence among investors in the digital asset sector.
• Mean Reversion Opportunity:
  • The average quotient price over the past 143 working days is plotted as a blue dashed curve (5.38). Currently, this average sits below its long-run mean, hovering around 7.51. Such a deviation underscores a potential opportunity to invest in digital assets, leveraging the mean reversion theory.
  • The mean reversion theory suggests that asset prices, over time, tend to revert to their historical average returns. The fact that the current average quotient price is below the long-run mean could imply that digital assets are currently undervalued compared to historical trends.
• Returns Comparison:
  • The chart also presents the returns achieved with the stock generated by buying one point of the respective index daily over the past twelve months.
  • The NWST1100 Crypto Index enjoyed a 22.31% appreciation relative to the same period last year. With daily index investments, an investor’s stock would have seen a 19.3% uplift compared to the index’s current price.
  • Contrasting with the crypto index, the DJW, representing global capital market shares, grew by 15.49% over the past year. However, a strategy involving daily purchases would have resulted in a gain of 1.7%.
  • To conclude, expectations are rife as we stand at the confirmed bullish trend between digital assets and global capital market shares. Digital assets purchased over the preceding year at an average price of 2591 points seem poised to offer magnified returns compared to shares as we traverse this bullish phase.

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

Indices Revision 11-03-2023

Based on the latest Bi-weekly revision, JUST and IOTA have improved their ranking and were added to the NWSL100 index. On the other hand, Cheelee and DyDx were removed from the NWSL100 index. Several new mid-cap assets have been added to the NWSM200 index, including Celestia, Beldex, Telcoin, etc. More information about the additions and deletions for other indices in the family is available in each index’s presentation.

Winning member

Congratulations to JUST (JST) for achieving a significant milestone by being recognized as the winning member of the NWSL100 crypto index with the most significant leap in rank within the NWSL100 crypto index. Let’s delve into the details of its performance:

1. Performance in the Last Ten Weeks: JUST (JST) has displayed a growth trajectory that resonated with the 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) performance. However, a significant bullish surge in early November set JST apart, reinforcing its independent market dynamics. The violet area chart highlights JST’s remarkable achievement, outpacing the NWSL100 index by a whopping 40%. This difference in performance underscores JST’s resilience and potential in the market.
2. JST vs. NWSL100: A comparison of JST’s performance with the NWSL100 index reveals interesting insights. The green area graph represents JST’s performance, while the orange area graph illustrates the index’s performance. Despite an overall semi-strong correlation, evidenced by a Pearson’s correlation coefficient of just 0.66, implying that while JST often follows the index trends, it also has independent factors influencing its performance. Hence, it does not perfectly align with the index movements.
3. Convergence in Price Changes: Because of the tendency to move in tandem with NWSL100, JST has been a reliable representative of the index regarding price changes. This convergence suggests that JST’s price movements have closely followed the broader market trends represented by NWSL100. In other words, general market trends have influenced JST’s price dynamics.

*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. 

JUST (JST) Website: https://just.network/#/

JST Large-cap Non Ethereum-based Token is 86th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSOT50

2100NEWS DA Orderbook Quality Evaluation Grade:  Ordinary, 18.3 (Average for Large-caps: 18.5)

Over the last week, the average market cap was $290.5 million, and the average daily volume was $75.8 million.

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

The NWST1100 index has risen by 6.54% from the previous week. Trust Wallet (TWT),  a Large-cap Non-Ethereum-based Token, is biweekly making the most significant leap in rank within the NWSL100 crypto index.

*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 complex to read initially, but the chart shows essential price information, crucial decisive price levels, momentum, trading volumes, and crypto market breadth. 

Following our previous analysis, which anticipated a rise toward the target resistance set by the 143-day Exponential Moving Average (EMA), we’ve delved deep into the NWST1100 chart, a vital metric for the cryptocurrency market. Our thorough examination of various indicators has brought to light several crucial insights:

1. The trajectory of the NWST1100 index reveals its approach toward the resistance set by the 143-day EMA, depicted by the red curve on the chart.
2. Market sentiment: The Percentage Price Oscillator (PPO) lines have slightly increased. This suggests the market could be pausing after its recent significant moves. A directional alteration in the PPO histogram gives a nod to the potential enhancement in the momentum. The upward trajectory of the Relative Strength Index (RSI) suggests a growing optimism in market sentiment.
3. We are shifting our focus to the Crypto Market Breadth indicators at the bottom of the NWST1100 chart. The Advance-Decline Line (ADVL) showcases an ascent. This indicator hints at a positive market breadth, capturing the disparity between advancing and declining cryptocurrencies. The dominance of advancing cryptocurrencies could bolster the overall market sentiment. Adding to the optimism, the McClellan Summation Index’s climb indicates potential latent positive movements in the market.

Considering these insights, while the market displays the third attempt to overcome the resistance, specific market breadth indicators echo positivity. Notably, the ascent of the McClellan Summation Index suggests underlying positive catalysts at work. The movement of multiple cryptocurrencies above their 50-day EMA further supports the notion of a potential bullish sentiment permeating the market.

The chart on the right shows that all four A50R lines have ascended from the oversold territory. This breadth indicator measures the percentage of digital assets trading above a 50-day moving average. A surge in the number of cryptocurrencies trading above their 50-day EMA could be the harbinger of an expansive upward trend or a mounting bullish sentiment across the market.

*This breadth indicator is essential in measuring the internal strength or weakness of the underlying index. Looking at the chart on the right side, we can see the A50R lines for four different categories of digital assets:

1. The top box shows the A50R lines for 100 Large-cap members of NWSL100.
2. The middle box displays the A50R lines for 1100 members of NWST1100, which is the Total Index measuring the performance of significant crypto assets based on market capitalization.
3. The third box shows the A50R lines for 100 Ethereum Tokens members of NWSET100.
4. The bottom box represents the A50R lines for 100 Coins members of NWSCo100.

Outlook for this week

This report aims to provide insights into the cryptocurrency market’s near-term outlook. While complete predictability remains challenging, the market waves show some degree of predictability with discernible patterns in market behavior. By examining momentum indicators, several signals emerge that offer insights into the potential direction of the market in the short term.

1. The market’s recurrent efforts to surpass the resistance level denote persistent bullish tendencies. Multiple attempts, especially the third, often suggest building pressure, which can signify a potential breakthrough when combined with other bullish signals.
2. The RSI (Relative Strength Index), standing at 57, leans towards a bullish bias. While it’s not in the overbought territory, it indicates prevailing buying pressure, which can provide the needed impetus for the market to rally.
3. The rising histogram of the Percentage Price Oscillator hints at reinforced momentum. Historically, an upward trajectory in the PPO histogram often precedes price rallies, and in this context, it provides further credence to the idea of a potential bullish run.
4. The Breadth indicators at the bottom of the first chart (NWST1100) point towards a broader market movement. A rising McClellan Summation Index, derived from the McClellan Oscillator, underlines the possibility of widespread market participation in the rally, reinforcing the bullish sentiment.

Considering this analysis, given the confluence of the above signals, the prognosis for the NWST1100 to breach the 143-day EMA resistance in the coming week appears plausible. The prediction of consolidation around the 2800 points mark, followed by a sharp rally, aligns with the observed momentum indicators.

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

Investors and traders often use historical performance data to make informed decisions about their cryptocurrency holdings. After analyzing the data in the table, the overall index NWST1100 has risen by 6.54% over the last week, indicating a modest positive performance in the broader cryptocurrency market. The chart below highlights the performance of various cryptocurrencies, such as Bitcoin, Ether, and the 2100NEWS Indices, which represent the performance of Ethereum-based tokens (NWSET100), Large caps (NWSL100), and Coins (NWSCo100). A retrospective view over the last thirty days indicates that Bitcoin has shown the most promising performance, with a gain of 15.08%.

Crypto (Digital Assets) compared with global equity

This report offers a comprehensive analysis comparing the performance of digital assets, as signified by the NWST1100 index, to shares on global capital markets, as represented by the Dow Jones Global W1Dow index. The comparison spans various timeframes, offering insights into historical and recent performances and potential future trends.

Let’s break down the key observations and implications:

• Historical Performance Comparison:
  • 23 Months Ago: The NWST1100 index, representative of digital assets, held a distinct advantage over the W1Dow index. At this juncture, digital assets displayed a notably superior performance trajectory compared to shares on global capital markets.
  • 12 Months Ago: Fast-forwarding to a year back, digital assets had a clear edge, outperforming shares by 2.9%. This performance data accentuates the heightened returns digital assets offered over shares in the specified duration.
• Recent Shift in Performance:
  • An analysis of the present year reveals a stark enhancement in the performance of digital assets. They have surpassed shares on global capital markets by a significant 33.3% margin, indicating a change in tide and possibly hinting at growing confidence among investors in the digital asset sector.
• Mean Reversion Opportunity:
  • The average quotient price over the past 143 working days is plotted as a blue dashed curve. Currently, this average sits below its long-run mean, hovering around 7.56. Such a deviation underscores a potential opportunity to invest in digital assets, leveraging the mean reversion theory.
  • The mean reversion theory suggests that asset prices, over time, tend to revert to their historical average returns. The current average quotient prices below the long-run mean could imply that digital assets are currently undervalued compared to historical trends.
• Returns Comparison:
  • The chart also presents the returns achieved with the stock price generated by buying one point of the respective index daily over the past twelve months.
  • The NWST1100 Crypto Index enjoyed a 16.95% appreciation relative to the same period last year. If one had opted for daily index purchases, they would have seen a 2.6% gain compared to its current price.
  • Contrasting with the crypto index, the DJW, representing global capital market shares, grew by 13.72% over the past year. However, a strategy involving daily purchases would have resulted in a slight decline of 0.7%.
  • To conclude, expectations are rife as we stand at the threshold of a confirmed bullish trend between digital assets and global capital market shares. Digital assets purchased over the preceding year seem poised to offer magnified returns compared to shares as we traverse this bullish phase.

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

Indices Revision 10-20-2023

Based on the latest Bi-weekly revision, no new constituent was added to or removed from the NWSL100 index. Several new mid-cap assets have been added to the NWSM200 index, including IOTA, Dynex, Orbs, etc. More information about the additions and deletions for other indices in the family is available in each index’s presentation.

Winning member

Congratulations to Trust Wallet Token (TWT) for achieving a significant milestone by being recognized as the winning member of the NWSL100 crypto index with the most significant leap in rank within the NWSL100 crypto index. Let’s delve into the details of its performance:

1. Performance in the Last Ten Weeks: Trust Wallet Token (TWT) has displayed a growth trajectory that resonated with the 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) performance. However, a significant bullish surge in early to mid-October set TWT apart, reinforcing its independent market dynamics. The violet area chart highlights TWT’s remarkable achievement, outpacing the NWSL100 index by a whopping 38%. This difference in performance underscores TWT’s resilience and potential in the market.
2. TWT vs. NWSL100: A comparison of TWT’s performance with the NWSL100 index reveals interesting insights. The green area graph represents TWT’s performance, while the orange area graph illustrates the index’s performance. Despite an overall weak correlation, evidenced by a Pearson’s correlation coefficient of just 0.23, TWT’s direction has mirrored the index roughly 80% of the time.
3. Divergence in Price Changes: TWT’s deviations in price from the NWSL100 index accentuate its distinct stance in the market. Even though its general direction aligns with the index, the nuances in its price shifts narrate a different tale. This divergence suggests that TWT’s price dynamics are possibly shaped by distinct market conditions or factors, setting it a class apart from the typical NWSL100 index trends.

*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. 

Trust Wallet Token (TWT) Website: https://trustwallet.com/

TWT Large-cap Non Ethereum-based Token is 61st in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSOT50

2100NEWS DA Orderbook Quality Evaluation Grade:  Poor, 16 (Average for Large-caps: 18.5)

Over the last week, the average market cap was $433.6 million, and the average daily volume was $17.8 million.

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

The NWST1100 index has risen by 2.36% from the previous week. Frax Share FXS Large-cap Ethereum-based Token is biweekly making the most significant leap in rank within the NWSL100 crypto index.

*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 complex to read initially, but the chart shows essential price information, crucial decisive price levels, momentum, trading volumes, and crypto market breadth. 

According to the previous report, the cryptocurrency market was predicted to rise to the target, the resistance level represented by the 143-day Exponential Moving Average (EMA). Analyzing the NWST1100 chart, a critical benchmark index, by examining various indicators to gain insights into the prevailing market sentiment and breadth has revealed several key points:

1. Observing the NWST1100 index price movement, we note that the index made the second unsuccessful attempt to break through the resistance represented by the 143-day EMA (red curve) on Monday, followed by four days of consolidation.
2. Market sentiment: Market sentiment analysis reveals several noteworthy points. The Percentage Price Oscillator (PPO) lines have slightly risen, indicating that the market might be consolidating or taking a breather after recent moves. A change in the direction of the PPO histogram hints at a potential slowdown in the momentum of price changes. The Relative Strength Index (RSI) has flattened, indicating a possible stabilization in market sentiment.
3. We are shifting our focus to the Crypto Market Breadth indicators at the bottom of the NWST1100 chart. The Advance-Decline Line (ADVL), which reflects the difference between the number of advancing and declining cryptocurrencies, has started to fall. This could signify a shift in market breadth, implying that more cryptocurrencies are declining than advancing, which could negatively impact overall market sentiment. On a positive note, the rising McClellan Summation Index suggests there could be some underlying positive developments in the market.

Considering these insights, it’s clear that while there has been a consolidation in the market after an unsuccessful attempt to break through the resistance, there are some indications of stabilization and potential negative shifts in market breadth; there are also positive signals, like the rising McClellan Summation Index, suggesting that there may be underlying positive factors at play in the market.

The chart on the right shows that all four A50R lines are currently near or in the oversold territory. This breadth indicator measures the percentage of digital assets trading above a 50-day moving average. The current condition suggests that a substantial portion (over 65%) of the cryptocurrency market is trading below its 50-day EMA (at relatively low levels compared to their short-term moving averages). When many cryptocurrencies start trading above their 50-day EMA, it may indicate a broader upward trend or a potential bullish sentiment in the market.

*This breadth indicator is essential in measuring the internal strength or weakness of the underlying index. Looking at the chart on the right side, we can see the A50R lines for four different categories of digital assets:

1. The top box shows the A50R lines for 100 Large-cap members of NWSL100.
2. The middle box displays the A50R lines for 1100 members of NWST1100, which is the Total Index measuring the performance of significant crypto assets based on market capitalization.
3. The third box shows the A50R lines for 100 Ethereum Tokens members of NWSET100.
4. The bottom box represents the A50R lines for 100 Coins members of NWSCo100.

Outlook for this week

This report aims to provide insights into the cryptocurrency market’s near-term outlook. While complete predictability remains challenging, the market waves show some degree of predictability with discernible patterns in market behavior. By examining momentum indicators, several signals emerge that offer insights into the potential direction of the market in the short term.

1. Recently, the market has experienced a consolidation after an unsuccessful attempt to break through the resistance. Such consolidation often serves as a pause and can precede further market action. Monitoring whether this consolidation leads to a breakout or breakdown is important.
2. The RSI (Relative Strength Index) currently stands at 61, indicating a moderate level of buying pressure in the market. An RSI reading 61 suggests that buying forces are prevailing.
3. The Percentage Price Oscillator (PPO) histogram appears to be potentially turning upward. A rising PPO histogram can signal a strengthening momentum, hinting at the possibility of a new trend forming. This suggests the market may be gearing up for a potential move in either direction.
4. The Breadth indicators at the bottom of the first chart (NWST1100) may flatten. The McClellan Summation Index is a long-term market breadth indicator relying on the McClellan Oscillator. Flattening indicators could signal a period of stability or uncertainty.

Considering this analysis, I expect further declines toward the support levels at pivot P or possibly even pivot S1 in the upcoming week. This could potentially serve as a foundation for the next, as per past patterns, the successful third attempt to breach and break through the red curve (143-day EMA).

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

Investors and traders often use historical performance data to make informed decisions about their cryptocurrency holdings. After analyzing the data in the table, the overall index NWST1100 has risen by 2.36% over the last week, indicating a modest positive performance in the broader cryptocurrency market. The chart below highlights the performance of various cryptocurrencies, such as Bitcoin, Ether, and the 2100NEWS Indices, which represent the performance of Ethereum-based tokens (NWSET100), Large caps (NWSL100), and Coins (NWSCo100). A retrospective view over the last thirty days indicates that Bitcoin has shown the most promising performance, with a gain of 4.77%.

Crypto (Digital Assets) compared with global equity

These comparisons provide insights into the relative performance of digital assets and shares on capital markets over different time periods.

The comparison highlights the performance differences between digital assets (coins, tokens) and shares on capital markets; the NWST1100 represents digital assets, while the Dow Jones Global W1Dow index represents shares on capital markets. Here are the key observations:

• Historical Performance Comparison:
  • 23 Months Ago: Digital assets, represented by the NWST1100 index, were outperforming shares on capital markets, represented by the W1Dow index, with a record high quotient between the two indexes. This suggests that investing in digital assets was more profitable than shares in capital markets during that period.
  • 12 Months Ago: However, over the past 12 months, digital assets have lagged behind shares on capital markets by 2.2%. This indicates that conventional stocks have delivered better returns than digital assets during this specific time frame.
• Recent Shift in Performance:
  • In the current year, there has been a noticeable shift in performance, with digital assets outperforming shares on capital markets by a significant margin of 28.6%. This suggests a potential resurgence in the performance of digital assets and a change in investor sentiment toward the cryptocurrency market.
• Mean Reversion Opportunity:
  • The chart includes a blue dashed curve representing the average quotient price over 143 working days. This average is lower than the long-run mean at 7.65. This observation hints at a potential buying opportunity for digital assets based on the mean reversion theory.
  • The mean reversion theory suggests that asset prices, over time, tend to revert to their historical average returns. The current average quotient prices below the long-run mean could imply that digital assets are currently undervalued compared to historical trends.
• Returns Comparison:
  • The chart also presents the returns achieved with the stock price generated by buying one point of the respective index daily over the past twelve months.
  • The NWST1100 Crypto Index experienced an 8.30% gain compared to a year ago, and the purchased stock of the index achieved a 1.3% gain compared to the index’s current price.
  • In contrast, the DJW Capital Index (shares on capital markets) experienced a 13.19% gain compared to a year ago. It achieved a 1.7% gain on the purchased stock of the index based on daily purchases.

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

Indices Revision 10-06-2023

Based on the latest Bi-weekly revision, Cheelee has improved its ranking and was added to the NWSL100 index. On the other hand, Chia was removed from the NWSL100 index. Several new mid-cap assets have been added to the NWSM200 index, including Carry Protocol, LeverFi, and Ultra. More information about the additions and deletions for other indices in the family is available in each index’s presentation.

Winning member

Congratulations to Frax Share (FXS) for achieving a significant milestone by being recognized as the winning member of the NWSL100 crypto index with the most significant leap in rank within the NWSL100 crypto index. Let’s delve into the details of its performance:

1. Performance in the Last Ten Weeks: Frax Share (FXS) has displayed a growth trajectory closely aligned with the 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) performance. The violet area chart indicates that FXS has shown almost equal growth to the NWSL100 index over the past ten weeks.
2. FXS vs. NWSL100: A comparison of FXS’s performance with the NWSL100 index reveals interesting insights. The green area graph represents XRD’s performance, while the orange area graph illustrates the index’s performance. Notably, there has been a strong correlation between FXS and NWSL100, with a Pearson’s correlation coefficient of 0.71. FXS has tended to move in the same direction as the index about 80% of the time.
3. Convergence in Price Changes: Because of the tendency to move in tandem with NWSL100 most of the time, FXS has been a reliable representative of the index regarding price changes. This convergence suggests that FXS’s price movements have closely followed the broader market trends represented by NWSL100. In other words, general market trends have influenced FXS’s price dynamics.

*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. 

Frax Share (FXS) Website: https://frax.finance/

FXS Large-cap Ethereum-based Token is 70th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100

2100NEWS DA Orderbook Quality Evaluation Grade:  Poor, 14.2 (Average for Large-caps: 18.5)

Over the last week, the average market cap was $407.7 million, and the average daily volume was $13.5 million.

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

The NWST1100 index has decreased 0.22% from the previous week. Radix (XRD), a Large-cap Coin, is biweekly making the most significant leap in rank within the NWSL100 crypto index.

*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. 

According to the previous report, it was predicted that the cryptocurrency market would rise to the target being the resistance level represented by the pivot point labeled as “P.” Analyzing the NWST1100 chart, a critical benchmark index, by examining various indicators to gain insights into the prevailing market sentiment and breadth has revealed several key points:

1. Observing the NWST1100 index price movement, we note that the index has moved over the 25-day Exponential Moving Average (EMA) but has experienced a pullback since Wednesday. Moving over the 25-day EMA can be a positive sign, indicating potential upward momentum. However, the subsequent pullback suggests that the market may have encountered resistance at this level.
2. Market sentiment: Market sentiment analysis reveals several noteworthy points. The Percentage Price Oscillator (PPO) lines have slightly risen, indicating that the market might be consolidating or taking a breather after recent moves. A change in the direction of the PPO histogram implies a potential slowdown in the momentum of price changes. The RSI changing direction to fall suggests that there might be some downward pressure or profit-taking in the market.
3. We are shifting our focus to the Crypto Market Breadth indicators at the bottom of the NWST1100 chart. The choppy Advance-Decline Line (ADVL), which reflects the difference between the number of advancing and declining cryptocurrencies, where it has started rising again, could indicate a shift in market breadth. A rising ADVL suggests there may be more advancing cryptocurrencies than declining ones, which could impact overall market sentiment. The rising McClellan Summation Index indicates that there might be some underlying positive developments in the market.

Considering these insights, it’s clear that while there has been a pullback in the market after moving over the 25-day EMA, there are some positive signs, such as the rising ADVL and McClellan Summation Index. These indicators point toward improving market breadth and positive sentiment.

The chart on the right shows that all four A50R lines are currently oversold. This breadth indicator measures the percentage of digital assets trading above a 50-day moving average. The current oversold condition suggests that a substantial portion (over 75%) of the cryptocurrency market is trading below its 50-day EMA (at relatively low levels compared to their short-term moving averages). Despite oversold, the A50R lines have risen, suggesting the market may have gained momentum. This could potentially lead to a reversal of the oversold condition, making it an attractive opportunity for bargain hunters. It could be an excellent time for those who believe in the overall positive sentiment in the market, especially if there are indications of upward momentum.

*This breadth indicator is essential in measuring the internal strength or weakness of the underlying index. Looking at the chart on the right side, we can see the A50R lines for four different categories of digital assets:

1. The top box shows the A50R lines for 100 Large-cap members of NWSL100.
2. The middle box displays the A50R lines for 1100 members of NWST1100, which is the Total Index measuring the performance of significant crypto assets based on market capitalization.
3. The third box shows the A50R lines for 100 Ethereum Tokens members of NWSET100.
4. The bottom box represents the A50R lines for 100 Coins members of NWSCo100.

Outlook for this week

This report aims to provide insights into the cryptocurrency market’s near-term outlook. While complete predictability remains challenging, the market waves show some degree of predictability with discernible patterns in market behavior. By examining momentum indicators, several signals emerge that offer insights into the potential direction of the market in the short term.

1. Recently, the market has experienced a consolidation after a rebound. Such consolidation often serves as a pause after significant price movements and can precede further market action.
2. The RSI (Relative Strength Index) currently stands at 47, indicating a moderate level of selling pressure in the market. RSI is a momentum oscillator that measures the speed and change of price movements, and an RSI reading of 47 suggests a balanced equilibrium between buying and selling forces.
3. The Percentage Price Oscillator (PPO) histogram appears to be potentially turning upward. A rising PPO histogram can signal a strengthening momentum, suggesting the possibility of an evolving trend. The PPO, a momentum indicator tracking the percentage difference between two moving averages, may continue its ascent.
4. The Breadth indicators at the bottom of the first chart (NWST1100) may continue rising. The McClellan Summation Index is a long-term market breadth indicator relying on the McClellan Oscillator. The oscillator bars above zero suggest a bullish momentum, indicating that the market breadth may favor increasing assets.

Considering this analysis, regarding the timing near the end of the third quarter, under different circumstances, there might have been a swift test of support (S1). However, the influence of large investors on market movements and the dynamics associated with quarter-end are expected to contribute to a move toward the pivot point labeled as “P” in the upcoming week.

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

Investors and traders often use historical performance data to make informed decisions about their cryptocurrency holdings. After analyzing the data in the table, the overall index NWST1100 has decreased by 0.22% over the last week, indicating a slightly negative performance in the broader cryptocurrency market. The chart below highlights the performance of various cryptocurrencies, such as Bitcoin, Ether, and the 2100NEWS Indices, which represent the performance of Ethereum-based tokens (NWSET100), Large caps (NWSL100), and Coins (NWSCo100). A retrospective view over the last thirty days indicates that Tokens represented by the NWSET100 index have shown the most promising performance, with a decrease of 0.36%.

Crypto (Digital Assets) compared with global equity

These comparisons provide insights into the relative performance of digital assets and traditional stocks over different time periods.

The comparison highlights the performance differences between digital assets (coins, tokens) and traditional stocks; the NWST1100 represents digital assets, while the Dow Jones Global W1Dow index represents traditional stocks. Here are the key observations:

• Historical Performance Comparison:
  • 22 Months Ago: Digital assets, represented by the NWST1100 index, were outperforming traditional stocks, represented by the W1Dow index, with a record high quotient between the two indexes. This suggests that investing in digital assets was more profitable during that period compared to traditional stocks.
  • 12 Months Ago: However, over the past 12 months, digital assets have lagged behind traditional stocks by 7.2%. This indicates that conventional stocks have delivered better returns than digital assets during this specific time frame.
• Recent Shift in Performance:
  • In the current year, there has been a noticeable shift in performance, with digital assets outperforming traditional stocks by a significant margin of 21.3%. This suggests a potential resurgence in the performance of digital assets and a change in investor sentiment toward the cryptocurrency market.
• Mean Reversion Opportunity:
  • The chart includes a blue dashed curve representing the average quotient price over 143 working days. This average is lower than the long-run mean at 7.80. This observation hints at a potential buying opportunity for digital assets based on the mean reversion theory.
  • The mean reversion theory suggests that asset prices, over time, tend to revert to their historical average returns. The current average quotient prices below the long-run mean could imply that digital assets are currently undervalued compared to historical trends.
• Returns Comparison:
  • The chart also presents the returns achieved with the stock price generated by buying one point of the respective index daily over the past twelve months.
  • The NWST1100 Crypto Index experienced a 6.05% gain compared to a year ago. However, the purchased stock of the index achieved a 2.6% decrease compared to the index’s current price.
  • In contrast, the DJW Capital Index (traditional stocks) experienced a 10.12% gain compared to a year ago. It achieved a 3.4% gain on the purchased stock of the index based on daily purchases.

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

Indices Revision 9-22-2023

Based on the latest Bi-weekly revision, no new constituent was added to or removed from the NWSL100 index. Several new mid-cap assets have been added to the NWSM200 index, including UnlimitedIP, Tellor, Flamingo, etc. More information about the additions and deletions for other indices in the family is available in each index’s presentation.

Winning member

Congratulations to Radix (XRD) for achieving a remarkable milestone as the winning member of the NWSL100 crypto index with the most significant leap in rank within the NWSL100 crypto index. Let’s delve into the details of its performance:

1. Outperformance in the Last Ten Weeks: Radix (XRD) has displayed equal growth as the 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). Since mid-August, XRD has outperformed the NWSL100 index by an impressive 25%, a trend depicted by the violet area chart.
2. XRD vs. NWSL100: A comparison of XRD’s performance with the NWSL100 index reveals interesting insights. The green area graph represents XRD’s performance, while the orange area graph illustrates the index’s performance. Notably, there has been a weak correlation between XRD and NWSL100, with a Pearson’s correlation coefficient of 0.15. XRD has moved in the same direction as the index about 70% of the time.
3. Divergence in Price Changes: Despite the tendency to move in tandem with NWSL100 most of the time, XRD has not been a reliable representative of the index regarding price changes. This suggests that XRD’s price movements have not fully aligned with the broader market represented by NWSL100. This divergence indicates that XRD’s price dynamics have been influenced by other factors or unique market conditions, setting it apart from the general trends observed in the market.

*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. 

Radix (XRD) Website: https://www.radixdlt.com/

XRD Large-cap Coin is 65th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSCo100

2100NEWS DA Orderbook Quality Evaluation Grade:  Poor, 14 (Average for Large-caps: 18.5)

Over the last week, the average market cap was $585.8 million, and the average daily volume was $2.1 million.

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