18th June 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin finished the week almost unchanged having found support at 25400. Ethereum was lower by 6.8% having broken support at 1740.
Secondary coins were sharply lower driven by the lawsuits against Binance and Coinbase. 18 Coins have been named by the SEC as being securities which has driven the price losses. Most Secondary coins made new short term lows during the week, but selected coins may find support at lower levels. These include Stellar at 0.075, Cosmos at 8.4, Polkadot at 4.25. Only Ripple maintains a short term uptrend but that may also have short term top.
Crypto related equities were generally up on the week, helped by a strong performance in the Nasdaq. Marathon, Microstrategy and Riot all hold short term uptrends and maintains short term supports. Coinbase also finds support above 50.
Headlines
BlackRock files Bitcoin ETF application with the SEC, in conjunction with Coinbase. The latter is engaged in legal battles with the SEC over regulatory issues.
One solo Bitcoin miner has luck during the week, and obtains a $160,000 pay-out for completing a block.
Snoop Dog unveils NFT “pass” that allows holders to unlock access to exclusive content and opportunities in relation to his upcoming concert tour.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 26,332.60 | 3% | -158.84 | -0.6% | 45 | 0 | 0 | 0 |
| Ethereum | 1,718.72 | 3% | -122.64 | -6.7% | 43 | 0 | 0 | 0 |
Bitcoin finished the week almost unchanged having found support at 25400. Ethereum was lower by 6.8% having broken support at 1740.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Cosmos (Smart Contract Coin) | 8.99 | -3% | 31 | -83 | -88 | -87 |
| Fantom (Smart Contract Coin) | 0.27 | -6.4% | 31 | -75 | -88 | -85 |
| Monero (Privacy Coin) | 134.70 | -6% | 30 | -100 | -50 | -62 |
| BNB Chain Native Token (Smart Contract Coin) | 240.73 | -8% | 27 | -83 | -3 | -22 |
| Cardano (Smart Contract Coin) | 0.26 | -10.8% | 26 | -92 | -91 | -91 |
| ChainLink (Cross Chain Coin) | 5.35 | -10.7% | 34 | -75 | -88 | -85 |
| DogeCoin (Memecoin) | 0.06 | -10.4% | 37 | -83 | -88 | -87 |
| Near (Smart Contract Coin) | 1.23 | -11.8% | 31 | -75 | -88 | -85 |
| XRP (Smart Contract Coin) | 0.48 | -11.7% | 57 | 75 | -41 | -12 |
| Solana (Smart Contract Coin) | 15.36 | -11.9% | 34 | -75 | -88 | -85 |
| Polkadot (Cross Chain Coin) | 4.44 | -11.1% | 31 | -83 | -92 | -90 |
| Stellar (Privacy Coin) | 0.08 | -12.6% | 36 | -83 | -92 | -90 |
| Theta Token (Gaming Coin) | 0.66 | -12.1% | 26 | -100 | -91 | -93 |
| Avalanche (Smart Contract Coin) | 11.56 | -16% | 28 | -92 | -91 | -91 |
| Decentraland (Gaming Coin) | 0.34 | -16.9% | 30 | -83 | -88 | -87 |
| Polygon (Smart Contract Coin) | 0.59 | -18.6% | 25 | -100 | -3 | -27 |
| The Sandbox (Gaming Coin) | 0.38 | -18.3% | 35 | -92 | -88 | -89 |
| THORChain (Smart Contract Coin) | 0.86 | -21.1% | 32 | -83 | -88 | -87 |
Secondary coins were sharply lower driven by the lawsuits against Binance and Coinbase. Most coins made new short term lows but selected coins may find support at lower levels. These include Stellar at 0.075, Cosmos at 8.4, Polkadot at 4.25. Only Ripple maintains a short term uptrend but that may also have short term top.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 44.31 | -0.5% | 4.2% | 66 | 42 | -88 | -56 |
| Block Inc | 66.51 | 0.5% | 2.4% | 64 | 0 | -88 | -66 |
| Coinbase Global Inc Cl A | 55.59 | 2.5% | 4.3% | 44 | -75 | -92 | -88 |
| Hive Blockchain Technologies Ltd | 3.22 | 3.9% | 7.3% | 52 | 0 | 47 | 36 |
| Marathon Digital Hldgs Inc | 9.98 | 6.6% | 6.4% | 49 | 75 | -88 | -48 |
| Microstrategy Cl A | 293.39 | 5.6% | 3.9% | 45 | 75 | -41 | -12 |
| Riot Blockchain Inc | 10.40 | 4.3% | 0.7% | 42 | 75 | 0 | 18 |
| Robinhood Markets Inc Cl A | 10.03 | 0.5% | 6.6% | 59 | 0 | -88 | -66 |
| Tesla Inc | 260.54 | 1.8% | 6.6% | 88 | 58 | -92 | -55 |
Crypto related equities were generally up on the week, helped by a strong performance in the Nasdaq. Marathon, Microstrategy and Riot all hold short term uptrends and maintains short term supports. Coinbase also finds support above 50.