31st December 2023: Weekly Crypto Trends
Bitcoin dropped 4% on the week, consolidating from recent short term highs; Ethereum was down marginally, having briefly made new short term highs.
Secondary coins were mixed on the week. There were gains for BNB, up 15%, Polygon, up 11% and Theta up 10%. On the negative side Avalanche fell 11%, followed by Monero at almost 6%.
All Secondary coins are now in short term uptrends, with several such as Avalanche, Solana and Thorchain in medium term uptrends. BNB, Decentraland, Polygon and Cosmos remain among the laggards.
Crypto related equities ran into profit taking at the end of the year, with several short term overbought. Riot was down 13%, with Marathon down 12.4% and Hive down 11.4%. Riot encountered the top of the short term range. Block also encounters the top of the range at 80.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 42,099.40 | -1.2% | -1898.5 | -4.3% | 61 | 42 | 47 | 46 |
| Ethereum | 2,300.69 | -2% | -25.83 | -1.1% | 58 | 8 | 7 | 7 |
Bitcoin dropped 4% on the week, consolidating from recent short term highs; Ethereum was down marginally having briefly made new short term highs.
Ratio Chart
Bitcoin corrects to short term support versus Ethereum.
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| BNB Chain Native Token (Smart Contract Coin) | 313.88 | 15.7% | 74 | 25 | -88 | -60 |
| Polygon (Smart Contract Coin) | 0.97 | 11% | 63 | 42 | -88 | -56 |
| Theta Token (Gaming Coin) | 1.27 | 10% | 62 | 75 | -88 | -48 |
| Solana (Smart Contract Coin) | 106.31 | 8.5% | 71 | 83 | 50 | 58 |
| Near (Smart Contract Coin) | 3.62 | 7.6% | 71 | 83 | -85 | -44 |
| The Sandbox (Gaming Coin) | 0.57 | 6.1% | 73 | 50 | -88 | -54 |
| Polkadot (Cross Chain Coin) | 8.29 | 4.1% | 69 | 75 | -92 | -51 |
| Stellar (Privacy Coin) | 0.13 | 2.3% | 59 | 8 | -45 | -32 |
| THORChain (Smart Contract Coin) | 5.32 | -0.4% | 46 | 75 | 0 | 18 |
| XRP (Smart Contract Coin) | 0.62 | -0.3% | 52 | 8 | 7 | 7 |
| ChainLink (Cross Chain Coin) | 15.53 | 0.2% | 55 | 75 | 0 | 18 |
| Cardano (Smart Contract Coin) | 0.61 | -2.5% | 71 | 83 | -38 | -8 |
| Decentraland (Gaming Coin) | 0.52 | -2.4% | 65 | 42 | -88 | -56 |
| Cosmos (Smart Contract Coin) | 10.99 | -3.6% | 62 | 42 | -88 | -56 |
| Fantom (Smart Contract Coin) | 0.48 | -3.1% | 69 | 75 | -88 | -48 |
| DogeCoin (Memecoin) | 0.09 | -4.4% | 63 | 42 | -41 | -20 |
| Monero (Privacy Coin) | 166.70 | -5.7% | 53 | 8 | -41 | -29 |
| Avalanche (Smart Contract Coin) | 40.21 | -11.5% | 73 | 83 | 3 | 22 |
Secondary coins were mixed on the week. There were gains for BNB, up 15%, Polygon, up 11% and Theta up 10%. On the negative side Avalanche fell 11%, followed by Monero at almost 6%.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 106.31 | 8.5% | 71 | 83 | 50 | 58 |
| Avalanche (Smart Contract Coin) | 40.21 | -11.5% | 73 | 83 | 3 | 22 |
| THORChain (Smart Contract Coin) | 5.32 | -0.4% | 46 | 75 | 0 | 18 |
| ChainLink (Cross Chain Coin) | 15.53 | 0.2% | 55 | 75 | 0 | 18 |
| XRP (Smart Contract Coin) | 0.62 | -0.3% | 52 | 8 | 7 | 7 |
| Cardano (Smart Contract Coin) | 0.61 | -2.5% | 71 | 83 | -38 | -8 |
| DogeCoin (Memecoin) | 0.09 | -4.4% | 63 | 42 | -41 | -20 |
| Monero (Privacy Coin) | 166.70 | -5.7% | 53 | 8 | -41 | -29 |
| Stellar (Privacy Coin) | 0.13 | 2.3% | 59 | 8 | -45 | -32 |
| Near (Smart Contract Coin) | 3.62 | 7.6% | 71 | 83 | -85 | -44 |
| Fantom (Smart Contract Coin) | 0.48 | -3.1% | 69 | 75 | -88 | -48 |
| Theta Token (Gaming Coin) | 1.27 | 10% | 62 | 75 | -88 | -48 |
| Polkadot (Cross Chain Coin) | 8.29 | 4.1% | 69 | 75 | -92 | -51 |
| The Sandbox (Gaming Coin) | 0.57 | 6.1% | 73 | 50 | -88 | -54 |
| Cosmos (Smart Contract Coin) | 10.99 | -3.6% | 62 | 42 | -88 | -56 |
| Polygon (Smart Contract Coin) | 0.97 | 11% | 63 | 42 | -88 | -56 |
| Decentraland (Gaming Coin) | 0.52 | -2.4% | 65 | 42 | -88 | -56 |
| BNB Chain Native Token (Smart Contract Coin) | 313.88 | 15.7% | 74 | 25 | -88 | -60 |
All Secondary coins are now in short term uptrends, with several such as Avalanche, Solana Thorchain in medium term uptrends.
BNB, Decentraland, Polygon and Cosmos remain among the laggards.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 52.37 | -3.3% | -1.2% | 66 | 8 | -45 | -32 |
| Block Inc | 77.35 | -2.7% | 0.3% | 80 | 50 | -89 | -55 |
| Coinbase Global Inc Cl A | 173.92 | -6.7% | -0.9% | 73 | 92 | 3 | 24 |
| Hive Blockchain Technologies Ltd | 4.53 | -15.2% | -11.4% | 62 | 42 | 47 | 46 |
| Marathon Digital Hldgs Inc | 23.49 | -16.4% | -12.1% | 69 | 75 | -41 | -12 |
| Microstrategy Cl A | 631.62 | -5.4% | 2% | 63 | 83 | 88 | 87 |
| Riot Blockchain Inc | 15.47 | -12.1% | -13% | 62 | 42 | -41 | -20 |
| Robinhood Markets Inc Cl A | 12.74 | -3.3% | -1.6% | 78 | 50 | -88 | -54 |
| Tesla Inc | 248.48 | -1.9% | -1.6% | 56 | 8 | -92 | -67 |
Crypto related equities ran into profit taking at the end of the year, with several short term overbought. Riot was down 13%, with Marathon down 12.4% and Hive down 11.4%. Riot encountered the top of the short term range. Block also encounters the top of the range at 80.