14th August 2023: Weekly Crypto Trends
Bitcoin and Ethereum posted marginal gains on the week.
Secondary coins were mixed on the week but Thorchain was a standout gainer with move of 23.3%, followed by Solana at 7.8%. The former now has potential base above 0.9, while the latter has found support at 23. Ripple, Solana, Chainlink, Monero and Stellar maintain short term uptrends, with Ripple the only coin to have a medium term uptrend.
Crypto related equities were generally lower on the week, with Riot showing a loss of 11% and Coinbase a loss of 7.2%. Coinbase breaks support at 85, but Riot approaches breakout support at 13-14. Microstrategy and Marathon consolidate to short term uptrends.
It was a thin week for Crypto news.
Disgraced FTX founder and former CEO Sam Bankman-Fried has been remanded to jail and his bail revoked by a federal judge due to witness tampering.
PayPal enters the stablecoin space with the launch of “PayPal USD” with Paxos Trust as the issuer of its PYUSD token. The move shows another significant traditional finance firm, with 465 million users, making inroads into Crypto.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 29,469.35 | 0% | 365.36 | 1.3% | 43 | 42 | 0 | 10 |
| Ethereum | 1,848.43 | -0.2% | 17.77 | 1% | 44 | 8 | 0 | 2 |
Bitcoin and Ethereum posted marginal gains on the week.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| THORChain (Smart Contract Coin) | 1.14 | 23.3% | 58 | -75 | -88 | -85 |
| Solana (Smart Contract Coin) | 24.61 | 7.8% | 63 | 42 | -88 | -56 |
| ChainLink (Cross Chain Coin) | 7.49 | 4.8% | 59 | 42 | -88 | -56 |
| Fantom (Smart Contract Coin) | 0.24 | 3.8% | 36 | -75 | -88 | -85 |
| Polygon (Smart Contract Coin) | 0.68 | 2.5% | 51 | -75 | -88 | -85 |
| Stellar (Privacy Coin) | 0.14 | 2.1% | 59 | 75 | -41 | -12 |
| DogeCoin (Memecoin) | 0.08 | 2.9% | 61 | 0 | -88 | -66 |
| Decentraland (Gaming Coin) | 0.37 | 1.3% | 46 | -75 | -88 | -85 |
| BNB Chain Native Token (Smart Contract Coin) | 239.71 | -0.8% | 50 | -75 | -47 | -54 |
| Near (Smart Contract Coin) | 1.33 | -0.7% | 48 | -75 | -88 | -85 |
| Avalanche (Smart Contract Coin) | 12.44 | 0.2% | 48 | -75 | -88 | -85 |
| Cardano (Smart Contract Coin) | 0.29 | -0.1% | 52 | -75 | -88 | -85 |
| XRP (Smart Contract Coin) | 0.63 | -0.8% | 59 | 75 | 41 | 49 |
| Polkadot (Cross Chain Coin) | 5.01 | 0.2% | 46 | -75 | -92 | -88 |
| The Sandbox (Gaming Coin) | 0.40 | -0% | 43 | -75 | -88 | -85 |
| Cosmos (Smart Contract Coin) | 8.34 | -1.7% | 36 | -92 | -88 | -89 |
| Monero (Privacy Coin) | 156.74 | -1.2% | 38 | 8 | -88 | -64 |
| Theta Token (Gaming Coin) | 0.75 | -1.6% | 51 | -75 | -88 | -85 |
Secondary coins were mixed on the week but Thorchain was a standout gainer with move of 23.3%, followed by Solana at 7.8%. The former now has potential base above 0.9, while the latter has found support at 23. Ripple, Solana, Chainlink, Monero and Stellar maintain short term uptrends, with Ripple the only coin to have a medium term uptrend.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| XRP (Smart Contract Coin) | 0.63 | -0.8% | 59 | 75 | 41 | 49 |
| Stellar (Privacy Coin) | 0.14 | 2.1% | 59 | 75 | -41 | -12 |
| BNB Chain Native Token (Smart Contract Coin) | 239.71 | -0.8% | 50 | -75 | -47 | -54 |
| Solana (Smart Contract Coin) | 24.61 | 7.8% | 63 | 42 | -88 | -56 |
| ChainLink (Cross Chain Coin) | 7.49 | 4.8% | 59 | 42 | -88 | -56 |
| Monero (Privacy Coin) | 156.74 | -1.2% | 38 | 8 | -88 | -64 |
| DogeCoin (Memecoin) | 0.08 | 2.9% | 61 | 0 | -88 | -66 |
| Near (Smart Contract Coin) | 1.33 | -0.7% | 48 | -75 | -88 | -85 |
| THORChain (Smart Contract Coin) | 1.14 | 23.3% | 58 | -75 | -88 | -85 |
| Fantom (Smart Contract Coin) | 0.24 | 3.8% | 36 | -75 | -88 | -85 |
| Polygon (Smart Contract Coin) | 0.68 | 2.5% | 51 | -75 | -88 | -85 |
| Avalanche (Smart Contract Coin) | 12.44 | 0.2% | 48 | -75 | -88 | -85 |
| Cardano (Smart Contract Coin) | 0.29 | -0.1% | 52 | -75 | -88 | -85 |
| Decentraland (Gaming Coin) | 0.37 | 1.3% | 46 | -75 | -88 | -85 |
| Theta Token (Gaming Coin) | 0.75 | -1.6% | 51 | -75 | -88 | -85 |
| The Sandbox (Gaming Coin) | 0.40 | -0% | 43 | -75 | -88 | -85 |
| Polkadot (Cross Chain Coin) | 5.01 | 0.2% | 46 | -75 | -92 | -88 |
| Cosmos (Smart Contract Coin) | 8.34 | -1.7% | 36 | -92 | -88 | -89 |
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 42.75 | -0.5% | -5.8% | 46 | 75 | -41 | -12 |
| Block Inc | 60.57 | -2.7% | -4.6% | 42 | 8 | -92 | -67 |
| Coinbase Global Inc Cl A | 81.01 | -2.9% | -7.2% | 51 | 75 | -45 | -15 |
| Hive Blockchain Technologies Ltd | 4.68 | 4.5% | 0% | 47 | 75 | 88 | 85 |
| Marathon Digital Hldgs Inc | 14.88 | 2.3% | -6% | 48 | 75 | 0 | 18 |
| Microstrategy Cl A | 384.31 | 1.7% | 1.9% | 51 | 75 | 41 | 49 |
| Riot Blockchain Inc | 15.23 | 1.5% | -11% | 54 | 75 | 0 | 18 |
| Robinhood Markets Inc Cl A | 10.72 | -0.1% | -5% | 50 | 75 | -88 | -48 |
| Tesla Inc | 242.65 | -1.1% | -4.4% | 36 | 75 | -92 | -51 |
Crypto related equities were generally lower on the week, with Riot showing a loss of 11% and Coinbase a loss of 7.2%. Coinbase breaks support at 85, but Riot approaches breakout support at 13-14. Microstrategy and Marathon consolidate to short term uptrends.