21st May 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin and Ethereum were barely changed on the week. Both consolidate to short term uptrends.
Secondary coins were mixed on the week, with gains of 8.9% in Ripple and 7.8% in Decentraland, compared to losses of 4.8% in Cosmos and 3.9% in Avalanche. Several stocks are at the bottom of short term ranges including Avalanche, Cosmos, Decentraland, Doge, Polkadot, Theta and Polygon.
Crypto related equities were generally better on the week as the Nasdaq also made new short term highs. Marathon, Microstrategy and Riot maintain short term uptrends.
Headlines
It was a quiet week in terms of Crypto news.
Gordon Grant, co-head of Genesis Trading gets a gold star for this piece of pretentious nonsense masquerading as commentary: “As implied volatilities stare down cyclical lows and majors look to have staved off another thwarted assault on trend support, similarly sloppy price action into Friday expiry could be in store if correlative risk assets find their feet,” Grant said. Well done Grant.
Crypto friendly Signature Bank executives re-state that they remain mystified as to why regulators shut down bank.
Elon Musk says that OpenAI would not exist without him.
The artist Beeple pulishes Bored Ape defecating on controversial bloggers Bitboy and Andrew Tate.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 26,896.13 | 0.1% | 97.45 | 0.4% | 40 | 42 | 0 | 10 |
| Ethereum | 1,813.69 | 0.6% | 4.5 | 0.2% | 45 | 8 | -47 | -34 |
Bitcoin and Ethereum were barely changed on the week. Both consolidate to short term uptrends.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| XRP (Smart Contract Coin) | 0.47 | 8.9% | 44 | 8 | -88 | -64 |
| Decentraland (Gaming Coin) | 0.49 | 7.8% | 38 | -75 | -88 | -85 |
| The Sandbox (Gaming Coin) | 0.54 | 5.4% | 35 | -75 | -88 | -85 |
| Near (Smart Contract Coin) | 1.67 | 1% | 32 | -75 | -88 | -85 |
| DogeCoin (Memecoin) | 0.07 | 1.4% | 40 | -75 | -88 | -85 |
| BNB Chain Native Token (Smart Contract Coin) | 311.18 | 0.3% | 47 | 8 | 47 | 38 |
| Fantom (Smart Contract Coin) | 0.37 | -0.4% | 33 | -33 | -88 | -74 |
| Polygon (Smart Contract Coin) | 0.87 | 0.8% | 33 | -75 | 47 | 17 |
| Cardano (Smart Contract Coin) | 0.37 | -0.6% | 43 | -33 | -88 | -74 |
| Polkadot (Cross Chain Coin) | 5.38 | 0.5% | 37 | -75 | -92 | -88 |
| Stellar (Privacy Coin) | 0.09 | 0.2% | 33 | -75 | -92 | -88 |
| Theta Token (Gaming Coin) | 0.92 | 0.5% | 42 | -75 | -88 | -85 |
| ChainLink (Cross Chain Coin) | 6.51 | -1.7% | 44 | -75 | -88 | -85 |
| THORChain (Smart Contract Coin) | 1.18 | -2% | 28 | -83 | -91 | -89 |
| Solana (Smart Contract Coin) | 20.43 | -2.7% | 40 | -75 | -88 | -85 |
| Monero (Privacy Coin) | 150.52 | -2.1% | 39 | -75 | -47 | -54 |
| Avalanche (Smart Contract Coin) | 14.73 | -3.9% | 38 | -83 | -88 | -87 |
| Cosmos (Smart Contract Coin) | 10.68 | -4.8% | 46 | -75 | -88 | -85 |
Secondary coins were mixed on the week, with gains of 8.9% in Ripple and 7.8% in Decentraland, compared to losses of 4.8% in Cosmos and 3.9% in Avalanche. Several stocks are at the bottom of short term ranges including Avalanche, Cosmos, Decentraland, Doge, Polkadot, Theta and Polygon.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 38.70 | -1.1% | 2.7% | 53 | -75 | -88 | -85 |
| Block Inc | 58.65 | -1.5% | 5.6% | 43 | -75 | -92 | -88 |
| Coinbase Global Inc Cl A | 56.78 | -5.8% | -1% | 41 | -75 | -92 | -88 |
| Hive Blockchain Technologies Ltd | 3.08 | -1.3% | 7.3% | 43 | -33 | 47 | 28 |
| Marathon Digital Hldgs Inc | 9.18 | -2.2% | 2.9% | 48 | 42 | -88 | -56 |
| Microstrategy Cl A | 288.28 | 0.2% | 6.4% | 45 | 42 | -88 | -56 |
| Riot Blockchain Inc | 11.08 | 0.1% | 4.4% | 46 | 75 | 0 | 18 |
| Robinhood Markets Inc Cl A | 8.47 | -1.7% | -3.1% | 34 | -75 | -88 | -85 |
| Tesla Inc | 180.14 | 1.8% | 7.2% | 50 | -75 | -92 | -88 |
Crypto related equities were generally better on the week as the Nasdaq also made new short term highs. Marathon, Microstrategy and Riot maintain short term uptrends.