29th October 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin was sharply better on the week, with a rise of 14.3%, followed by Ethereum, which rallies 10.9%. Bitcoin made new short term highs.
Secondary coins had a very good week, with advances of 47.7% in Chainlink, 47.65% in Thorchain, together with gains of over 20% in Near and Fantom. Both Thorchain and Chainlink make new short term highs. Solana approaches the top of the range at 35. The balance of the coins generally rally into short term resistance and downtrends.
Microstrategy, Marathon and Riot all made good gains during the week, with Microstrategy gaining 16.9% and challenging the top of the short term range. Block remains weak and on lows.
News
Sam Bankman-Lied testified in court on Friday in the fraud case against him.
Cryptocurrency exchange Coinbase offered a judge a final submission Tuesday as to why a lawsuit from the Securities and Exchange Commission (SEC) should be put aside, arguing tokens are not securities and that the SEC has overstepped its regulatory powers.
Decrypt reports that 16 senior executives have left Binance over the last few year. Changpeng Zhao, personally faces charges in the United States from the CFTC and the SEC, while the company has also been charged in the U.S., France and the U.K., among others, with various lawsuits encompassing securities violations and money laundering.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 33,928.24 | -0.7% | 4233.39 | 14.3% | 75 | 58 | 0 | 14 |
| Ethereum | 1,781.70 | -1.3% | 175.81 | 10.9% | 61 | -83 | -88 | -87 |
Bitcoin was sharply better on the week, with a rise of 14.3%, followed by Ethereum, which rallies 10.9%. Bitcoin made new short term highs.
Ratio Chart
The Bitcoin/Ethereum ratio becomes overextended.
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| THORChain (Smart Contract Coin) | 2.42 | 47.6% | 62 | 83 | -88 | -46 |
| ChainLink (Cross Chain Coin) | 11.20 | 47.7% | 75 | 100 | -88 | -42 |
| Fantom (Smart Contract Coin) | 0.23 | 24.9% | 63 | -75 | -88 | -85 |
| Near (Smart Contract Coin) | 1.22 | 21.4% | 59 | -75 | -92 | -88 |
| Decentraland (Gaming Coin) | 0.34 | 18.6% | 60 | -75 | -88 | -85 |
| Solana (Smart Contract Coin) | 31.75 | 17.4% | 71 | 83 | -88 | -46 |
| Cardano (Smart Contract Coin) | 0.29 | 15.2% | 67 | -83 | -88 | -87 |
| Avalanche (Smart Contract Coin) | 10.60 | 14.8% | 59 | -75 | -88 | -85 |
| Polygon (Smart Contract Coin) | 0.61 | 13.7% | 58 | -83 | -88 | -87 |
| DogeCoin (Memecoin) | 0.07 | 13.1% | 58 | -83 | -88 | -87 |
| Polkadot (Cross Chain Coin) | 4.14 | 11.2% | 50 | -83 | -92 | -90 |
| Cosmos (Smart Contract Coin) | 7.03 | 9.6% | 46 | -83 | -88 | -87 |
| Theta Token (Gaming Coin) | 0.64 | 9.5% | 57 | -83 | -88 | -87 |
| The Sandbox (Gaming Coin) | 0.32 | 9.3% | 57 | -83 | -88 | -87 |
| BNB Chain Native Token (Smart Contract Coin) | 224.62 | 5.8% | 57 | -83 | -88 | -87 |
| XRP (Smart Contract Coin) | 0.55 | 5.6% | 54 | -75 | 0 | -18 |
| Stellar (Privacy Coin) | 0.11 | 4.2% | 45 | -33 | -45 | -42 |
| Monero (Privacy Coin) | 160.94 | 3.9% | 65 | -42 | -88 | -77 |
Secondary coins had a very good week, with advances of 47.7% in Chainlink, 47.65% in Thorchain, together with gains of over 20% in Near and Fantom. Both Thorchain and Chainlink make new short term highs. Solana approaches the top of the range at 35. The balance of the coins generally rally into short term resistance and downtrends.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| XRP (Smart Contract Coin) | 0.55 | 5.6% | 54 | -75 | 0 | -18 |
| ChainLink (Cross Chain Coin) | 11.20 | 47.7% | 75 | 100 | -88 | -42 |
| Stellar (Privacy Coin) | 0.11 | 4.2% | 45 | -33 | -45 | -42 |
| THORChain (Smart Contract Coin) | 2.42 | 47.6% | 62 | 83 | -88 | -46 |
| Solana (Smart Contract Coin) | 31.75 | 17.4% | 71 | 83 | -88 | -46 |
| Monero (Privacy Coin) | 160.94 | 3.9% | 65 | -42 | -88 | -77 |
| Fantom (Smart Contract Coin) | 0.23 | 24.9% | 63 | -75 | -88 | -85 |
| Avalanche (Smart Contract Coin) | 10.60 | 14.8% | 59 | -75 | -88 | -85 |
| Decentraland (Gaming Coin) | 0.34 | 18.6% | 60 | -75 | -88 | -85 |
| BNB Chain Native Token (Smart Contract Coin) | 224.62 | 5.8% | 57 | -83 | -88 | -87 |
| Cosmos (Smart Contract Coin) | 7.03 | 9.6% | 46 | -83 | -88 | -87 |
| Polygon (Smart Contract Coin) | 0.61 | 13.7% | 58 | -83 | -88 | -87 |
| Cardano (Smart Contract Coin) | 0.29 | 15.2% | 67 | -83 | -88 | -87 |
| DogeCoin (Memecoin) | 0.07 | 13.1% | 58 | -83 | -88 | -87 |
| Theta Token (Gaming Coin) | 0.64 | 9.5% | 57 | -83 | -88 | -87 |
| The Sandbox (Gaming Coin) | 0.32 | 9.3% | 57 | -83 | -88 | -87 |
| Near (Smart Contract Coin) | 1.22 | 21.4% | 59 | -75 | -92 | -88 |
| Polkadot (Cross Chain Coin) | 4.14 | 11.2% | 50 | -83 | -92 | -90 |
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 34.10 | -1.9% | -5.4% | 32 | -92 | -92 | -92 |
| Block Inc | 40.02 | -4% | -9% | 36 | -92 | -97 | -96 |
| Coinbase Global Inc Cl A | 70.78 | -5.1% | -5.2% | 45 | -33 | -45 | -42 |
| Hive Blockchain Technologies Ltd | 2.94 | -4.5% | -1% | 48 | -83 | 47 | 15 |
| Marathon Digital Hldgs Inc | 8.86 | -1.4% | 14.2% | 48 | -83 | -88 | -87 |
| Microstrategy Cl A | 406.76 | -1.6% | 16.9% | 64 | 42 | 88 | 77 |
| Riot Blockchain Inc | 9.54 | -2.6% | 7.6% | 48 | -83 | -41 | -51 |
| Robinhood Markets Inc Cl A | 8.90 | -2.2% | -2.5% | 36 | -83 | -88 | -87 |
| Tesla Inc | 207.30 | 0.7% | -2.2% | 31 | -33 | -92 | -78 |
Microstrategy, Marathon and Riot all made good gains during the week, with Microstrategy gaining 16.9% and challenging the top of the short term range. Block remains weak and on lows.