25th August 2024: Weekly Crypto Trends
Bitcoin rallies 6% on the week and now trades mid-range. Ethereum rallies into short term downtrend at 2870.
Secondary coins have strong rallies with gains of 38% in Fantom, 33% in Polygon and 30% in Avalanche. These moves generally take secondary coins into short term downtrends as many have suffered significant drawdowns in the last six months.
The sharp rallies in Secondary stocks have not been sufficient to change the trend profile of the Secondary stocks with 4 coins still with positive short term trend scores and three with positive overall trend scores. The strongest coins remain Solana and BNB.
Crypto related equities also had a good week, with gains of 19% in Hive, 15% in Marathon and 13% in Microstrategy. Hive forms short term base and Marathon finds support at the bottom of the range. Coinbase also finds support at the bottom of its range.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 64,094.36 | 6.1% | 5200.25 | 8.8% | 50 | 0 | 47 | 36 |
| Ethereum | 2,764.45 | 5.4% | 171.26 | 6.6% | 39 | -75 | 7 | -13 |
Bitcoin rallies 6% on the week and now trades mid-range. Ethereum rallies into short term downtrend at 2870.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Fantom (Smart Contract Coin) | 0.51 | 38.6% | 50 | -75 | 7 | -13 |
| Polygon (Smart Contract Coin) | 0.54 | 33.2% | 50 | -75 | -88 | -85 |
| Avalanche (Smart Contract Coin) | 26.52 | 30% | 49 | -75 | -41 | -49 |
| Theta Token (Gaming Coin) | 1.41 | 23.5% | 48 | -75 | -41 | -49 |
| Near (Smart Contract Coin) | 4.83 | 21.5% | 40 | -75 | 7 | -13 |
| The Sandbox (Gaming Coin) | 0.30 | 20.6% | 44 | -75 | -88 | -85 |
| THORChain (Smart Contract Coin) | 4.45 | 19.6% | 52 | -75 | -41 | -49 |
| Cardano (Smart Contract Coin) | 0.39 | 18.5% | 44 | -75 | -88 | -85 |
| ChainLink (Cross Chain Coin) | 12.06 | 18.9% | 43 | -75 | -41 | -49 |
| Decentraland (Gaming Coin) | 0.31 | 17.4% | 42 | -75 | -88 | -85 |
| Monero (Privacy Coin) | 173.23 | 16.4% | 58 | 75 | -45 | -15 |
| Polkadot (Cross Chain Coin) | 4.90 | 14.1% | 35 | -75 | -92 | -88 |
| BNB Chain Native Token (Smart Contract Coin) | 591.81 | 13.8% | 53 | 33 | 47 | 44 |
| DogeCoin (Memecoin) | 0.11 | 12.4% | 46 | -75 | 7 | -13 |
| Cosmos (Smart Contract Coin) | 5.10 | 11.8% | 35 | -75 | -92 | -88 |
| Solana (Smart Contract Coin) | 153.11 | 9.9% | 49 | 33 | 88 | 74 |
| XRP (Smart Contract Coin) | 0.61 | 8.3% | 49 | 75 | 7 | 23 |
| Stellar (Privacy Coin) | 0.10 | 7.4% | 44 | -42 | -92 | -80 |
Secondary coins have strong rallies with gains of 38% in Fantom, 33% in Polygon and 30% in Avalanche. These moves generally take secondary coins into short term downtrends as many have suffered significant drawdowns in the last six months.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 153.11 | 9.9% | 49 | 33 | 88 | 74 |
| BNB Chain Native Token (Smart Contract Coin) | 591.81 | 13.8% | 53 | 33 | 47 | 44 |
| XRP (Smart Contract Coin) | 0.61 | 8.3% | 49 | 75 | 7 | 23 |
| Near (Smart Contract Coin) | 4.83 | 21.5% | 40 | -75 | 7 | -13 |
| Fantom (Smart Contract Coin) | 0.51 | 38.6% | 50 | -75 | 7 | -13 |
| DogeCoin (Memecoin) | 0.11 | 12.4% | 46 | -75 | 7 | -13 |
| Monero (Privacy Coin) | 173.23 | 16.4% | 58 | 75 | -45 | -15 |
| THORChain (Smart Contract Coin) | 4.45 | 19.6% | 52 | -75 | -41 | -49 |
| Avalanche (Smart Contract Coin) | 26.52 | 30% | 49 | -75 | -41 | -49 |
| ChainLink (Cross Chain Coin) | 12.06 | 18.9% | 43 | -75 | -41 | -49 |
| Theta Token (Gaming Coin) | 1.41 | 23.5% | 48 | -75 | -41 | -49 |
| Stellar (Privacy Coin) | 0.10 | 7.4% | 44 | -42 | -92 | -80 |
| Polygon (Smart Contract Coin) | 0.54 | 33.2% | 50 | -75 | -88 | -85 |
| Cardano (Smart Contract Coin) | 0.39 | 18.5% | 44 | -75 | -88 | -85 |
| Decentraland (Gaming Coin) | 0.31 | 17.4% | 42 | -75 | -88 | -85 |
| The Sandbox (Gaming Coin) | 0.30 | 20.6% | 44 | -75 | -88 | -85 |
| Cosmos (Smart Contract Coin) | 5.10 | 11.8% | 35 | -75 | -92 | -88 |
| Polkadot (Cross Chain Coin) | 4.90 | 14.1% | 35 | -75 | -92 | -88 |
The sharp rallies in Secondary stocks have not been sufficient to change the trend profile of the Secondary stocks with 4 coins still with positive short term trend scores and three with positive overall trend scores. The strongest coins remain Solana and BNB.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 46.24 | 4.5% | 4.9% | 46 | -42 | -92 | -80 |
| Block Inc | 65.36 | 2.4% | -0.8% | 42 | -42 | -92 | -80 |
| Coinbase Global Inc Cl A | 211.40 | 6.5% | 3% | 42 | -33 | 43 | 24 |
| Hive Blockchain Technologies Ltd | 3.63 | 14.9% | 19% | 46 | 0 | -41 | -31 |
| Marathon Digital Hldgs Inc | 18.69 | 10.9% | 15.1% | 36 | -75 | 7 | -13 |
| Microstrategy Cl A | 150.01 | 12.1% | 12.8% | 20 | -83 | 41 | 10 |
| Riot Blockchain Inc | 8.50 | 5.6% | 6.1% | 33 | -75 | -88 | -85 |
| Robinhood Markets Inc Cl A | 21.12 | 6.2% | 5.7% | 40 | 0 | 47 | 36 |
| Tesla Inc | 220.32 | 4.6% | 1.9% | 43 | 75 | -92 | -51 |
Crypto related equities also had a good week, with gains of 19% in Hive, 15% in Marathon and 13% in Microstrategy. Hive forms short term base and Marathon finds support at the bottom of the range. Coinbase also finds support at the bottom of its range.