11th February 2024: Weekly Crypto Trends
Bitcoin and Ethereum rallied sharply in the week. Bitcoin tests previous highs, while Ethereum tests resistance at 2500.
Secondary coins also rallied sharply with gains 19.2% in Thorchain, followed by gains of 9.9% in Fantom and 9.4% in Cosmos. On the negative side, Monero was sharply lower by 27.7%.
Several coins now trade mid-range after the recent rally.
Crypto related equities had a strong rally, fuelled both the equity Index highs as well as strong Bitcoin gains. The biggest gainers were marathon, Microstrategy and Riot with gains around 30%. Marathon and Microstrategy reassert medium term uptrends, while Coinbase found solid support at 114.
Yuga Labs, the company in charge of collections such as the Bored Apes, found itself having to reverse its free mint for its metaverse game the Otherside after the Ethereum minting costs made the free give away rather expensive.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 47,147.20 | 4.1% | 3961.34 | 9.2% | 59 | 50 | 47 | 48 |
| Ethereum | 2,487.52 | 2.8% | 179.48 | 7.8% | 60 | 8 | 7 | 7 |
Bitcoin and Ethereum rallied sharply in the week. Bitcoin tests previous highs, while Ethereum tests resistance at 2500.
Ratio Chart
Bitcoin approaches the top of the short term range versus Ethereum.
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| THORChain (Smart Contract Coin) | 5.25 | 19.2% | 49 | 0 | 47 | 36 |
| Cosmos (Smart Contract Coin) | 10.02 | 9.4% | 51 | -33 | -88 | -74 |
| Fantom (Smart Contract Coin) | 0.40 | 9.9% | 46 | 8 | -41 | -29 |
| BNB Chain Native Token (Smart Contract Coin) | 323.84 | 7.5% | 52 | 50 | -41 | -18 |
| Polygon (Smart Contract Coin) | 0.85 | 6.9% | 50 | 8 | -88 | -64 |
| Solana (Smart Contract Coin) | 106.93 | 6.5% | 54 | 75 | 88 | 85 |
| The Sandbox (Gaming Coin) | 0.47 | 6.5% | 45 | -33 | -88 | -74 |
| Cardano (Smart Contract Coin) | 0.54 | 5.2% | 48 | 42 | -41 | -20 |
| Decentraland (Gaming Coin) | 0.47 | 5.9% | 50 | -33 | -88 | -74 |
| Near (Smart Contract Coin) | 2.99 | 3.3% | 38 | 75 | -41 | -12 |
| Avalanche (Smart Contract Coin) | 38.01 | 3.5% | 51 | 75 | 0 | 18 |
| XRP (Smart Contract Coin) | 0.53 | 3.1% | 39 | -83 | 7 | -15 |
| ChainLink (Cross Chain Coin) | 18.47 | 3.8% | 62 | 75 | 47 | 54 |
| Polkadot (Cross Chain Coin) | 7.19 | 3.7% | 46 | 42 | -45 | -23 |
| DogeCoin (Memecoin) | 0.08 | 3% | 49 | -33 | -41 | -39 |
| Theta Token (Gaming Coin) | 1.04 | 3.5% | 43 | -33 | -41 | -39 |
| Stellar (Privacy Coin) | 0.11 | 1.5% | 41 | -83 | -45 | -54 |
| Monero (Privacy Coin) | 121.92 | -27.7% | 42 | -92 | -45 | -56 |
Secondary coins also rallied sharply with gains 19.2% in Thorchain, followed by gains of 9.9% in Fantom and 9.4% in Cosmos. On the negative side, Monero was sharply lower by 27.7%.
Several coins now trade mid-range after the recent rally.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 106.93 | 6.5% | 54 | 75 | 88 | 85 |
| ChainLink (Cross Chain Coin) | 18.47 | 3.8% | 62 | 75 | 47 | 54 |
| THORChain (Smart Contract Coin) | 5.25 | 19.2% | 49 | 0 | 47 | 36 |
| Avalanche (Smart Contract Coin) | 38.01 | 3.5% | 51 | 75 | 0 | 18 |
| Near (Smart Contract Coin) | 2.99 | 3.3% | 38 | 75 | -41 | -12 |
| XRP (Smart Contract Coin) | 0.53 | 3.1% | 39 | -83 | 7 | -15 |
| BNB Chain Native Token (Smart Contract Coin) | 323.84 | 7.5% | 52 | 50 | -41 | -18 |
| Cardano (Smart Contract Coin) | 0.54 | 5.2% | 48 | 42 | -41 | -20 |
| Polkadot (Cross Chain Coin) | 7.19 | 3.7% | 46 | 42 | -45 | -23 |
| Fantom (Smart Contract Coin) | 0.40 | 9.9% | 46 | 8 | -41 | -29 |
| DogeCoin (Memecoin) | 0.08 | 3% | 49 | -33 | -41 | -39 |
| Theta Token (Gaming Coin) | 1.04 | 3.5% | 43 | -33 | -41 | -39 |
| Stellar (Privacy Coin) | 0.11 | 1.5% | 41 | -83 | -45 | -54 |
| Monero (Privacy Coin) | 121.92 | -27.7% | 42 | -92 | -45 | -56 |
| Polygon (Smart Contract Coin) | 0.85 | 6.9% | 50 | 8 | -88 | -64 |
| Cosmos (Smart Contract Coin) | 10.02 | 9.4% | 51 | -33 | -88 | -74 |
| Decentraland (Gaming Coin) | 0.47 | 5.9% | 50 | -33 | -88 | -74 |
| The Sandbox (Gaming Coin) | 0.47 | 6.5% | 45 | -33 | -88 | -74 |
The trend structure of the secondary coins remains split between short term uptrends and short term downtrends, while four coins, Solana, Chainlink Thorchain and Avalanche.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 49.59 | 2.4% | 6.3% | 48 | 8 | -45 | -32 |
| Block Inc | 66.88 | -2.8% | -1.5% | 43 | 8 | -92 | -67 |
| Coinbase Global Inc Cl A | 141.99 | 7.1% | 9.9% | 44 | 42 | -4 | 7 |
| Hive Blockchain Technologies Ltd | 3.61 | 5.6% | 15.7% | 40 | -75 | 7 | -13 |
| Marathon Digital Hldgs Inc | 23.89 | 10.7% | 31.3% | 51 | 75 | 47 | 54 |
| Microstrategy Cl A | 646.32 | 10% | 29.2% | 47 | 8 | 88 | 68 |
| Riot Blockchain Inc | 14.55 | 11.5% | 29.8% | 48 | -33 | -41 | -39 |
| Robinhood Markets Inc Cl A | 11.55 | 2.9% | 5.8% | 44 | 8 | -45 | -32 |
| Tesla Inc | 193.57 | 2.1% | 3% | 25 | -92 | -95 | -94 |
Crypto related equities had a strong rally, fuelled both the equity Index highs as well as strong Bitcoin gains. The biggest gainers were marathon, Microstrategy and Riot with gains around 30%. Marathon and Microstrategy reassert medium term uptrends, while Coinbase found solid support at 114.