23rd April 2023: Weekly Crypto Trends
Cryto Assets
Bitcoin and Ethereum suffer corrections of over 10% during the week as they fall from recent short term highs; they test short term support.
Secondary coins all suffer sharp reversals during the week, with significant losses of 18% in Thorchain, 17% in Fantom and 14% in The Sandbox and Ripple. Most Secondary coins remain trapped in short term sideways ranges.
Crypto related equities were down on the week with the largest falls coming from Marathon, down 25.4%, followed by Riot at 22% and Hive at 20.2%. Marathon and Microstrategy do not hold short term supports, while Riot approaches support at 10. Block finds short term support at 60.
Headlines
The European parliament has voted through laws to regulate the Crypto industry.
Crypto VC fundraising for the first quarter of 2023 is down 82% on the comparable period in 2022.
Coinbase praises the UK moves for Crypto regulation and expresses concern that the USA might force Crypto out.
Trump drops some more NFTs at original price but first collection drops by around half in price due to more supply.
A sophisticated hacker has stolen $10 million of Ether recently from hard wallets and security experts have not found an explanation of how the theft took place. Speculation is that the hacker gained access to secret recovery phrases for accounts.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 27,291.63 | -3.4% | -3198.66 | -10.5% | 58 | 42 | -47 | -26 |
| Ethereum | 1,850.78 | -4.8% | -250.9 | -11.9% | 57 | 8 | -47 | -34 |
Bitcoin and Ethereum suffer corrections of over 10% during the week from recent short term highs; they test short term support.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| BNB Chain Native Token (Smart Contract Coin) | 322.16 | -2.1% | 54 | 8 | 41 | 33 |
| Monero (Privacy Coin) | 151.07 | -6.8% | 53 | 8 | -47 | -34 |
| ChainLink (Cross Chain Coin) | 7.12 | -7.7% | 54 | 8 | -88 | -64 |
| Cosmos (Smart Contract Coin) | 10.84 | -11.6% | 41 | -75 | -88 | -85 |
| Polygon (Smart Contract Coin) | 1.01 | -11.9% | 44 | -33 | 88 | 58 |
| Avalanche (Smart Contract Coin) | 17.06 | -11.5% | 54 | 8 | -88 | -64 |
| DogeCoin (Memecoin) | 0.08 | -11.4% | 54 | 8 | -88 | -64 |
| Decentraland (Gaming Coin) | 0.56 | -11.9% | 50 | -33 | -88 | -74 |
| Theta Token (Gaming Coin) | 1.00 | -11.5% | 49 | -33 | -88 | -74 |
| Cardano (Smart Contract Coin) | 0.38 | -12.6% | 58 | 8 | -88 | -64 |
| Stellar (Privacy Coin) | 0.09 | -12.8% | 56 | 8 | -92 | -67 |
| Near (Smart Contract Coin) | 1.93 | -13.2% | 50 | -75 | -88 | -85 |
| Solana (Smart Contract Coin) | 21.32 | -13.8% | 55 | -33 | -88 | -74 |
| Polkadot (Cross Chain Coin) | 5.86 | -13% | 50 | -33 | -88 | -74 |
| XRP (Smart Contract Coin) | 0.45 | -14.1% | 58 | 8 | -88 | -64 |
| The Sandbox (Gaming Coin) | 0.59 | -14.5% | 50 | -75 | -88 | -85 |
| Fantom (Smart Contract Coin) | 0.43 | -17.3% | 53 | 42 | -88 | -56 |
| THORChain (Smart Contract Coin) | 1.38 | -18.1% | 51 | -33 | -88 | -74 |
Secondary coins all suffer sharp reversals during the week, with significant losses of 18% in Thorchain, 17% in Fantom and 14% in The Sandbox and Ripple. Most Secondary coins remain trapped in short term sideways ranges.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Polygon (Smart Contract Coin) | 1.01 | -11.9% | 44 | -33 | 88 | 58 |
| BNB Chain Native Token (Smart Contract Coin) | 322.16 | -2.1% | 54 | 8 | 41 | 33 |
| Monero (Privacy Coin) | 151.07 | -6.8% | 53 | 8 | -47 | -34 |
| Fantom (Smart Contract Coin) | 0.43 | -17.3% | 53 | 42 | -88 | -56 |
| Avalanche (Smart Contract Coin) | 17.06 | -11.5% | 54 | 8 | -88 | -64 |
| Cardano (Smart Contract Coin) | 0.38 | -12.6% | 58 | 8 | -88 | -64 |
| XRP (Smart Contract Coin) | 0.45 | -14.1% | 58 | 8 | -88 | -64 |
| ChainLink (Cross Chain Coin) | 7.12 | -7.7% | 54 | 8 | -88 | -64 |
| DogeCoin (Memecoin) | 0.08 | -11.4% | 54 | 8 | -88 | -64 |
| Stellar (Privacy Coin) | 0.09 | -12.8% | 56 | 8 | -92 | -67 |
| THORChain (Smart Contract Coin) | 1.38 | -18.1% | 51 | -33 | -88 | -74 |
| Solana (Smart Contract Coin) | 21.32 | -13.8% | 55 | -33 | -88 | -74 |
| Polkadot (Cross Chain Coin) | 5.86 | -13% | 50 | -33 | -88 | -74 |
| Decentraland (Gaming Coin) | 0.56 | -11.9% | 50 | -33 | -88 | -74 |
| Theta Token (Gaming Coin) | 1.00 | -11.5% | 49 | -33 | -88 | -74 |
| Near (Smart Contract Coin) | 1.93 | -13.2% | 50 | -75 | -88 | -85 |
| Cosmos (Smart Contract Coin) | 10.84 | -11.6% | 41 | -75 | -88 | -85 |
| The Sandbox (Gaming Coin) | 0.59 | -14.5% | 50 | -75 | -88 | -85 |
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 37.63 | 0.6% | -3% | 50 | -33 | -88 | -74 |
| Block Inc | 63.48 | 1.8% | -0.9% | 39 | -75 | -88 | -85 |
| Coinbase Global Inc Cl A | 59.04 | -2.4% | -15.5% | 48 | 8 | -92 | -67 |
| Hive Blockchain Technologies Ltd | 3.23 | -3.3% | -20.2% | 54 | 8 | 88 | 68 |
| Marathon Digital Hldgs Inc | 8.93 | -6.2% | -25.4% | 56 | 42 | -88 | -56 |
| Microstrategy Cl A | 291.02 | -1.3% | -12.8% | 59 | 42 | -88 | -56 |
| Riot Blockchain Inc | 10.52 | -3.5% | -22% | 60 | 75 | -88 | -48 |
| Robinhood Markets Inc Cl A | 9.64 | -0.9% | -3.6% | 56 | -33 | -88 | -74 |
| Tesla Inc | 165.08 | 1.3% | -10.8% | 43 | -75 | -92 | -88 |
Crypto related equities were down on the week with the largest falls coming from Marathon, down 25.4%, followed by Riot at 22% and Hive at 20.2%. Marathon and Microstrategy do not hold short term supports, while Riot approaches support at 10. Block finds short term support at 60.