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12th November 2023: Weekly Crypto Trends

Crypto Assets
Bitcoin advanced 7% on the week, making new short term highs; Ethereum rallied by 13% and now tests the top of the short term range. Both are short term overbought.
Secondary coins were also better with gains of 43% in Solana, 37% in Theta, 35% in Chainlink, followed by 26% in Polygon and 22% in Avalanche. On a technical level, Thorchain and Chainlink have initiated medium term uptrends, while Stellar, Theta and Cardano now have short term uptrends.
Crypto related equities were mixed with Riot and Hive down 9% and 6.3% respectively, while Microstrategy was up 12%.

News
Economist Roubini does a U Turn and starts to roll out his own cryptocurrency, having been a vocal critic of Crypto, calling Bitcoin a shitcoin He was particularly rude about Crypto and Binance saying “There are seven Cs of crypto, “Concealed, corrupt, crooks, criminals, con men, carnival barkers and finally, CZ.”

Dodgy Binance CEO Changpeng Zhao isn’t amused and characterises Roubini as “shameless”-something of a special subject for CZ. He is particularly miffed that Roubini included a Binance logo on his website without permission.

Roblox CEO David Baszucki stated this week that he sees a future in which NFTs come to the Roblox gaming platform and speculated on how NFTs might move from platform to platform.

Major Coin Summary
NameCloseDaily Ch %Wk ChWk Ch %RSIST ScoreLT ScoreOverall
Bitcoin37,313.971.7%2581.647.4%8158316
Ethereum2,078.29-2%245.4913.4%7125-88-60

Bitcoin advanced 7% on the week, making new short term highs; Ethereum rallied by 13% and now tests the top of the short term range. Both are short term overbought.

Ratio Chart
Secondary Coin Summary

Trend score – best to worst

NameCloseWk Ch %RSIST ScoreLT ScoreOverall
THORChain (Smart Contract Coin)4.0219.3%74100327
ChainLink (Cross Chain Coin)15.5135%82100327
Solana (Smart Contract Coin)56.6443.3%84100-38-4
XRP (Smart Contract Coin)0.667.8%668-41-29
Stellar (Privacy Coin)0.121.1%588-45-32
Theta Token (Gaming Coin)1.0437.2%8217-85-60
Cardano (Smart Contract Coin)0.3917.4%7817-88-62
Monero (Privacy Coin)171.150.2%680-88-66
Polygon (Smart Contract Coin)0.8425.7%73-25-88-72
Decentraland (Gaming Coin)0.438.6%72-25-88-72
The Sandbox (Gaming Coin)0.4216%73-25-88-72
BNB Chain Native Token (Smart Contract Coin)251.088.9%67-33-88-74
Near (Smart Contract Coin)1.565.6%69-33-88-74
Cosmos (Smart Contract Coin)9.2018.6%70-33-88-74
Fantom (Smart Contract Coin)0.2919.9%69-33-88-74
Avalanche (Smart Contract Coin)14.7521.8%70-33-88-74
DogeCoin (Memecoin)0.0810.7%64-33-88-74
Polkadot (Cross Chain Coin)5.3014.8%69-33-92-78

Secondary coins were also better with gains of 43% in Solana, 37% in Theta, 35% in Chainlink, followed by 26% in Polygon and 22% in Avalanche. On a technical level, Thorchain and Chainlink have initiated medium term uptrends, while Stellar, Theta and Cardano now have short term uptrends.