27th July 2024: Weekly Crypto Trends
Bitcoin was up 1.8% on the week, but Ethereum was weak, falling 6.6%. Bitcoin and Ethereum now diverge technically, with Bitcoin maintaining a short term uptrend, while Ethereum has a short term downtrend.
Bitcoin now reasserts uptrend vs. Ethereum but is below May highs.
Secondary coins were generally weaker on the week, but Solana made a gain of 8.2%, with Dogecoin up 7% and Ripple, 5.3%. On the negative side, Fantom was down 11.3%, Near fell 11.1% and Polkadot was down 7.5%.
The trend profile of Secondary coins is still poor, with only BNB, Near and Solana with positive overall trend scores.
Crypto related equities were down on the week, with falls of 12.8% in Marathon, 11.6% in Block and 6.9% in Riot. Block tests the bottom of the short term range, while Coinbase, marathon and Hive are mid-range. Microstrategy remains to the top of the short term range.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 67,912.06 | 3.2% | 1201.91 | 1.8% | 54 | 42 | 47 | 46 |
| Ethereum | 3,275.95 | 3.2% | -229.78 | -6.6% | 44 | -33 | 7 | -3 |
Bitcoin was up 1.8% on the week, but Ethereum was weak, falling 6.6%. Bitcoin and Ethereum now diverge technically, with Bitcoin maintaining a short term uptrend, while Ethereum has a short term downtrend.
Ratio Chart
Bitcoin now reasserts uptrend vs. Ethereum but is below May highs.
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 183.14 | 8.2% | 64 | 75 | 88 | 85 |
| DogeCoin (Memecoin) | 0.13 | 7% | 55 | -75 | 7 | -13 |
| XRP (Smart Contract Coin) | 0.60 | 5.3% | 62 | 0 | -88 | -66 |
| Avalanche (Smart Contract Coin) | 28.71 | 1.8% | 53 | -75 | 7 | -13 |
| THORChain (Smart Contract Coin) | 4.67 | 0.8% | 57 | -75 | 7 | -13 |
| Monero (Privacy Coin) | 161.61 | 0.2% | 44 | 75 | -45 | -15 |
| BNB Chain Native Token (Smart Contract Coin) | 581.08 | -2.1% | 47 | 0 | 47 | 36 |
| Stellar (Privacy Coin) | 0.10 | -2.1% | 58 | -75 | -92 | -88 |
| Polygon (Smart Contract Coin) | 0.51 | -3.5% | 43 | -83 | -88 | -87 |
| ChainLink (Cross Chain Coin) | 13.54 | -3.8% | 47 | -83 | 7 | -15 |
| The Sandbox (Gaming Coin) | 0.33 | -3.7% | 51 | -75 | -88 | -85 |
| Cardano (Smart Contract Coin) | 0.42 | -4.8% | 55 | -75 | -88 | -85 |
| Decentraland (Gaming Coin) | 0.34 | -4.5% | 52 | -75 | -88 | -85 |
| Theta Token (Gaming Coin) | 1.51 | -4.5% | 51 | -75 | 7 | -13 |
| Cosmos (Smart Contract Coin) | 6.17 | -5.2% | 42 | -83 | -92 | -90 |
| Polkadot (Cross Chain Coin) | 5.87 | -7.5% | 51 | -83 | -92 | -90 |
| Near (Smart Contract Coin) | 5.72 | -11.1% | 56 | -33 | 47 | 28 |
| Fantom (Smart Contract Coin) | 0.46 | -11.3% | 45 | -83 | 7 | -15 |
Secondary coins were generally weaker on the week, but Solana made a gain of 8.2%, with Dogecoin up 7% and Ripple, 5.3%. On the negative side, Fantom was down 11.3%, Near fell 11.1% and Polkadot was down 7.5%.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 183.14 | 8.2% | 64 | 75 | 88 | 85 |
| BNB Chain Native Token (Smart Contract Coin) | 581.08 | -2.1% | 47 | 0 | 47 | 36 |
| Near (Smart Contract Coin) | 5.72 | -11.1% | 56 | -33 | 47 | 28 |
| THORChain (Smart Contract Coin) | 4.67 | 0.8% | 57 | -75 | 7 | -13 |
| Avalanche (Smart Contract Coin) | 28.71 | 1.8% | 53 | -75 | 7 | -13 |
| DogeCoin (Memecoin) | 0.13 | 7% | 55 | -75 | 7 | -13 |
| Theta Token (Gaming Coin) | 1.51 | -4.5% | 51 | -75 | 7 | -13 |
| Fantom (Smart Contract Coin) | 0.46 | -11.3% | 45 | -83 | 7 | -15 |
| ChainLink (Cross Chain Coin) | 13.54 | -3.8% | 47 | -83 | 7 | -15 |
| Monero (Privacy Coin) | 161.61 | 0.2% | 44 | 75 | -45 | -15 |
| XRP (Smart Contract Coin) | 0.60 | 5.3% | 62 | 0 | -88 | -66 |
| Cardano (Smart Contract Coin) | 0.42 | -4.8% | 55 | -75 | -88 | -85 |
| Decentraland (Gaming Coin) | 0.34 | -4.5% | 52 | -75 | -88 | -85 |
| The Sandbox (Gaming Coin) | 0.33 | -3.7% | 51 | -75 | -88 | -85 |
| Polygon (Smart Contract Coin) | 0.51 | -3.5% | 43 | -83 | -88 | -87 |
| Stellar (Privacy Coin) | 0.10 | -2.1% | 58 | -75 | -92 | -88 |
| Cosmos (Smart Contract Coin) | 6.17 | -5.2% | 42 | -83 | -92 | -90 |
| Polkadot (Cross Chain Coin) | 5.87 | -7.5% | 51 | -83 | -92 | -90 |
The trend profile of Secondary coins is still poor, with only BNB, Near and Solana with positive overall trend scores.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 45.78 | 1.3% | -1.8% | 55 | 0 | -45 | -34 |
| Block Inc | 60.18 | -2.3% | -11.6% | 46 | -92 | -45 | -56 |
| Coinbase Global Inc Cl A | 242.93 | 4.9% | -5.8% | 50 | 75 | 47 | 54 |
| Hive Blockchain Technologies Ltd | 3.81 | 3% | -8.2% | 56 | 75 | -41 | -12 |
| Marathon Digital Hldgs Inc | 21.57 | 6.4% | -12.8% | 53 | 75 | 7 | 23 |
| Microstrategy Cl A | 1,752.71 | 9.1% | -1.5% | 57 | 75 | 88 | 85 |
| Riot Blockchain Inc | 11.20 | 4.4% | -6.9% | 51 | 0 | -88 | -66 |
| Robinhood Markets Inc Cl A | 21.20 | 0.1% | -9.4% | 46 | 75 | 47 | 54 |
| Tesla Inc | 219.80 | -0.2% | -8.1% | 58 | 75 | -92 | -51 |
Crypto related equities were down on the week, with falls of 12.8% in Marathon, 11.6% in Block and 6.9% in Riot. Block tests the bottom of the short term range, while Coinbase, marathon and Hive are mid-range. Microstrategy remains to the top of the short term range.