View Daily Crypto Trends

10th April 2023: Weekly Crypto Trends

Crypto Assets
Bitcoin continues to test the top of the short term range while Ethereum made new short term highs. Ethereum has resistance at 2000.
Secondary coins were mixed last week. Thorchain was up 9% and Doge up 7%, but the latter gave up more significant gains which had surrounded the Twitter image posted by Elon Musk. On the negative side, Stellar dropped 5.4%, Ripple was down by 4.7% and Chainlink by 4.2%. The majority of Secondary Cryptos trade narrow ranges within their downtrends. Only Polygon retains a medium term uptrend.
Crypto related equities were lower on the week, with Robinhood the only one with a positive return. Coinbase was down 9.1%, followed by Marathon at 8.5% and Riot at 8.3%. Within these, Riot has consolidated to short term uptrend, the others are mid-range. Microstrategy continues to encounter the top of the range at 300.

Headlines

FTX new CEO issues very critical interim report on FTX, in which he calls FTX novel “in the unprecedented scale of harm it caused in a nascent industry” noting “its root causes were hubris, incompetence and greed”.

Bitcoin miners in Texas face a local bill that threatens to reduce their profitability in the way that Bitcoin miners access the local electricity grid.

Dogecoin rallied 20% as that logo was put on Twitter by Elon Musk instead of the Blue bird logo. Doge subsequently gave back most of the gains.

Ralph Lauren announced a new fashion concept store in Miami which will accept Crypto payments.

Major Coin Summary
NameCloseDaily Ch %Wk ChWk Ch %RSIST ScoreLT ScoreOverall
Bitcoin27,935.15-0.4%-556.81-2%6242-47-26
Ethereum1,866.09-0.4%42.962.4%588-47-34

Bitcoin continues to test the top of the short term range while Ethereum made new short term highs. Ethereum has resistance at 2000.

Ratio Chart

Bitcoin has pulled back from the top of the range versus Ethereum

Secondary Coin Summary

Weekly change – highest to lowest

NameCloseWk Ch %RSIST ScoreLT ScoreOverall
THORChain (Smart Contract Coin)1.579%46-75-88-85
DogeCoin (Memecoin)0.087%50-33-88-74
The Sandbox (Gaming Coin)0.664.2%46-75-88-85
Decentraland (Gaming Coin)0.613.8%47-75-88-85
Near (Smart Contract Coin)2.021.5%44-75-88-85
Theta Token (Gaming Coin)1.061.7%44-33-88-74
Avalanche (Smart Contract Coin)17.66-0.5%50-33-88-74
Monero (Privacy Coin)156.70-0.6%528-7-3
Cosmos (Smart Contract Coin)11.07-1.2%42-75-47-54
Polygon (Smart Contract Coin)1.11-1%4488868
BNB Chain Native Token (Smart Contract Coin)310.73-2.1%5284133
Polkadot (Cross Chain Coin)6.19-2.6%47-33-88-74
Fantom (Smart Contract Coin)0.46-3.2%4942-88-56
Cardano (Smart Contract Coin)0.38-3.8%54-33-88-74
Solana (Smart Contract Coin)20.50-3.2%45-75-88-85
XRP (Smart Contract Coin)0.51-4.7%6442-88-56
ChainLink (Cross Chain Coin)7.27-4.2%48-33-88-74
Stellar (Privacy Coin)0.11-5.4%61-33-92-78

Secondary coins were mixed last week. Thorchain was up 9% and Doge up 7%, but the latter gave up more significant gains which had surrounded the Twitter image posted by Elon Musk. On the negative side Stellar dropped 5.4%, Ripple was down by 4.7% and Chainlink by 4.2%. The majority of Secondary Cryptos trade narrow ranges within their downtrends. Only Polygon retains a medium term uptrend.