25th June 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin and Ethereum enjoyed strong rallies during the week. Bitcoin rose 16%, testing the top of the short term range again. Ethereum also encounters some short term resistance but is below the top of the recent range.
Secondary coins also rallied on the week from an oversold position, with weekly gains of 15.6% in Decentraland, 15.1% in Polkadot, 14.8% in Monero, and 14.2% in Stellar and Polygon. Secondary coins generally encounter short term downtrends or short term resistance after rallies.
Crypto related equities had substantial rallies as major coins rallied. Hive rose by 28.9% and Marathon by 27.4%. They both test the tops of their short term ranges.
Headlines
Bitcoin’s rally was encouraged by the news that BlackRock signalled its intention to issue a Bitcoin ETF.
Independently Jerome Powell also remarked that Cryptos having staying power in a Financial Services hearing in Congress.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 30,675.46 | 2.5% | 4342.86 | 16.5% | 60 | 50 | 0 | 12 |
| Ethereum | 1,893.00 | 1% | 174.28 | 10.1% | 53 | -42 | 0 | -10 |
Bitcoin and Ethereum enjoyed strong rallies during the week. Bitcoin rose 16%, testing the top of the short term range again. Ethereum also encounters some short term resistance but is below the top of the recent range.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Fantom (Smart Contract Coin) | 0.31 | 16.3% | 38 | -75 | -88 | -85 |
| Avalanche (Smart Contract Coin) | 13.30 | 15% | 40 | -75 | -88 | -85 |
| Polkadot (Cross Chain Coin) | 5.10 | 15.1% | 45 | -83 | -92 | -90 |
| Decentraland (Gaming Coin) | 0.39 | 15.6% | 32 | -83 | -88 | -87 |
| Polygon (Smart Contract Coin) | 0.68 | 14.2% | 31 | -83 | 0 | -20 |
| Monero (Privacy Coin) | 154.68 | 14.8% | 53 | -83 | -47 | -56 |
| Stellar (Privacy Coin) | 0.09 | 14.2% | 50 | -83 | -92 | -90 |
| Theta Token (Gaming Coin) | 0.76 | 14.8% | 36 | -83 | -88 | -87 |
| The Sandbox (Gaming Coin) | 0.44 | 14.1% | 40 | -83 | -88 | -87 |
| Near (Smart Contract Coin) | 1.39 | 13.3% | 37 | -83 | -88 | -87 |
| THORChain (Smart Contract Coin) | 0.98 | 13.8% | 39 | -83 | -88 | -87 |
| ChainLink (Cross Chain Coin) | 6.07 | 13.5% | 42 | -83 | -88 | -87 |
| Cardano (Smart Contract Coin) | 0.30 | 12.4% | 32 | -83 | -88 | -87 |
| Solana (Smart Contract Coin) | 17.18 | 11.9% | 39 | -83 | -88 | -87 |
| DogeCoin (Memecoin) | 0.07 | 9.2% | 42 | -83 | -88 | -87 |
| XRP (Smart Contract Coin) | 0.50 | 4.1% | 58 | 75 | -41 | -12 |
| Cosmos (Smart Contract Coin) | 9.33 | 3.8% | 35 | -83 | -88 | -87 |
| BNB Chain Native Token (Smart Contract Coin) | 244.71 | 1.7% | 29 | -92 | -3 | -24 |
Secondary coins also rallied on the week from an oversold position, with weekly gains of 15.6% in Decentraland, 15.1% in Polkadot, 14.8% in Monero, and 14.2% in Stellar and Polygon. Secondary coins generally encounter short term downtrends or short term resistance after rallies.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 42.14 | -1.2% | -4.9% | 62 | 42 | -88 | -56 |
| Block Inc | 62.86 | -1.9% | -5.5% | 59 | -33 | -92 | -78 |
| Coinbase Global Inc Cl A | 61.47 | 6.9% | 10.6% | 50 | -75 | -92 | -88 |
| Hive Blockchain Technologies Ltd | 4.15 | 7% | 28.9% | 72 | 58 | 47 | 50 |
| Marathon Digital Hldgs Inc | 12.71 | 7.4% | 27.4% | 62 | 92 | -88 | -44 |
| Microstrategy Cl A | 329.11 | 0.6% | 12.2% | 60 | 75 | -41 | -12 |
| Riot Blockchain Inc | 11.60 | 3.2% | 11.5% | 50 | 75 | 0 | 18 |
| Robinhood Markets Inc Cl A | 9.49 | 0.4% | -5.4% | 64 | 0 | -88 | -66 |
| Tesla Inc | 256.60 | -3% | -1.5% | 78 | 50 | -92 | -57 |
Crypto related equities had substantial rallies as major coins rallied. Hive rose by 28.9% and Marathon by 27.4%. They both tests the tops of their short term ranges.