24th September 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin was unchanged on the week, remaining above short term support at 25350. Ethereum dropped 2.8% reasserting short term downtrend.
Secondary coins were mostly lower on the week, with an exception being Chainlink, which rallied by 9.2%. Stellar, Thorchain and Fantom were all down 4% or over. Stellar and Thorchain still maintain short term uptrends, and Ripple a medium term uptrend, whereas all other coins are in downtrends. Crypto related equities were all down on the week. with falls of 14.2% in Riot and 13.6% in Coinbase. Hive, Coinbase and Marathon test short term support, while Riot breaks short term support.
News
The Stoner Cats NFT project, created by actress Mila Kunis, has been delisted from the major marketplaces, following charges from the SEC for selling unregistered securities. While the NFTs can no longer be bought, sold, or transferred on these platforms, they still exist on the blockchain.
FTX has filed a lawsuit against the parents of Sam Bankman-Fried, seeking to recover millions of dollars in fraudulently transferred funds. The filing alleges that they enriched themselves at the expense of the company and its creditors, treating FTX as a “family business” to siphon millions of dollars for personal benefit.
In Venezuela, authorities discovered that inmates in one of the country’s maximum security penitentiaries were using thousands of ASICs to mine for Bitcoin. The facility raided on Wednesday this week had served as the headquarters of the Tren de Aragua gang that operates in Venezuela and other Latin American countries. Also found were sniper rifles, rocket launchers and grenades, together with cocaine, marijuana and the wives or girlfriends of some inmates who had been living inside.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 26,611.17 | 0.1% | -6.95 | -0% | 40 | -42 | 0 | -10 |
| Ethereum | 1,595.88 | 0.6% | -46.28 | -2.8% | 35 | -83 | -88 | -87 |
Bitcoin was unchanged on the week, remaining above short term support at 25350. Ethereum dropped 2.8% reasserting short term downtrend.
Ratio Chart
Bitcoin makes new short term high versus Ethereum.
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| ChainLink (Cross Chain Coin) | 6.96 | 9.2% | 52 | -42 | -88 | -77 |
| Cosmos (Smart Contract Coin) | 7.15 | 3.1% | 42 | -75 | -88 | -85 |
| XRP (Smart Contract Coin) | 0.51 | 2.2% | 37 | 0 | 41 | 31 |
| Solana (Smart Contract Coin) | 19.47 | 1.4% | 39 | -75 | -88 | -85 |
| Near (Smart Contract Coin) | 1.13 | -0.5% | 42 | -75 | -88 | -85 |
| Decentraland (Gaming Coin) | 0.29 | -0.7% | 40 | -75 | -88 | -85 |
| BNB Chain Native Token (Smart Contract Coin) | 211.33 | -1.3% | 38 | -75 | -88 | -85 |
| Polygon (Smart Contract Coin) | 0.52 | -1.6% | 35 | -75 | -88 | -85 |
| Monero (Privacy Coin) | 145.19 | -1.7% | 44 | -42 | -88 | -77 |
| DogeCoin (Memecoin) | 0.06 | -1.6% | 40 | -75 | -88 | -85 |
| The Sandbox (Gaming Coin) | 0.30 | -1.5% | 33 | -75 | -88 | -85 |
| Cardano (Smart Contract Coin) | 0.25 | -2.2% | 38 | -75 | -88 | -85 |
| Polkadot (Cross Chain Coin) | 4.02 | -2.9% | 34 | -83 | -92 | -90 |
| Theta Token (Gaming Coin) | 0.60 | -2.1% | 40 | -75 | -88 | -85 |
| THORChain (Smart Contract Coin) | 1.74 | -4.5% | 57 | 75 | -88 | -48 |
| Fantom (Smart Contract Coin) | 0.19 | -4% | 39 | -83 | -88 | -87 |
| Stellar (Privacy Coin) | 0.11 | -4.9% | 44 | 33 | -4 | 5 |
| Avalanche (Smart Contract Coin) | 8.88 | -5.9% | 30 | -100 | -91 | -93 |
Secondary coins were mostly lower on the week, with an exception being Chainlink, which rallied by 9.2%. Stellar, Thorchain and Fantom were all down 4% or over. Stellar and Thorchain still maintain short term uptrends, and Ripple a medium term uptrend, whereas all other coins are in downtrends.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 38.82 | -1.8% | -9.8% | 40 | 33 | -88 | -58 |
| Block Inc | 44.71 | -2% | -15.4% | 25 | -100 | -100 | -100 |
| Coinbase Global Inc Cl A | 70.96 | -4.6% | -13.6% | 43 | 33 | -45 | -26 |
| Hive Blockchain Technologies Ltd | 2.99 | -0.7% | -5.4% | 31 | -75 | 88 | 48 |
| Marathon Digital Hldgs Inc | 8.67 | -5.3% | -11.5% | 32 | 0 | 0 | 0 |
| Microstrategy Cl A | 322.81 | -1% | -5.3% | 38 | 0 | 41 | 31 |
| Riot Blockchain Inc | 9.24 | -3.5% | -14.2% | 33 | 0 | 0 | 0 |
| Robinhood Markets Inc Cl A | 9.70 | -1.3% | -9.1% | 41 | 33 | -88 | -58 |
| Tesla Inc | 244.88 | -4.2% | -10.8% | 53 | 75 | -92 | -51 |
Crypto related equities were all down on the week. with falls of 14.2% in Riot and13.6% in Coinbase. Hive, Coinbase and Marathon test short term support, while Riot breaks short term support.