4th February 2024: Weekly Crypto Trends
Bitcoin advanced 3% on the week, while Ethereum rallied 1.8%. Both are mid short term range now
Secondary coins were mixed on the week, but there were sharp gains in Chainlink, up 25%, Avalanche up 13.7% and Solana up 8.7%. Chainlink tests the top of the short term range at 18, while Solana and Avalanche reassert short term uptrends.
Solana now has the best trend within Secondary coins, being in a medium term uptrend now. Chainlink is also in a medium term uptrend. Most coins have a negative score overall. Approximately half the coins maintain short term uptrends with positive trend scores.
Crypto related equities were generally up modestly after sharp recent declines. Microstrategy, Hive and Riot all broke short term uptrends on the decline and may now be short term range traders.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 43,185.86 | 0.3% | 1368.99 | 3.3% | 50 | 42 | 47 | 46 |
| Ethereum | 2,308.04 | 0.2% | 40.84 | 1.8% | 48 | 42 | 7 | 15 |
Bitcoin advanced 3% on the week, while Ethereum rallied 1.8%. Both are mid short term range now.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| ChainLink (Cross Chain Coin) | 17.79 | 25.3% | 53 | 83 | 47 | 56 |
| Avalanche (Smart Contract Coin) | 36.71 | 13.7% | 44 | 75 | 0 | 18 |
| Solana (Smart Contract Coin) | 100.44 | 8.7% | 47 | 75 | 88 | 85 |
| Polygon (Smart Contract Coin) | 0.80 | 5.2% | 36 | -33 | -88 | -74 |
| Cardano (Smart Contract Coin) | 0.51 | 5.9% | 38 | 75 | -41 | -12 |
| Monero (Privacy Coin) | 168.65 | 5.8% | 47 | -33 | -41 | -39 |
| Polkadot (Cross Chain Coin) | 6.94 | 4% | 37 | 42 | -45 | -23 |
| THORChain (Smart Contract Coin) | 4.41 | 1.6% | 38 | 0 | 47 | 36 |
| Theta Token (Gaming Coin) | 1.00 | 1.7% | 36 | -33 | -41 | -39 |
| BNB Chain Native Token (Smart Contract Coin) | 301.15 | -0.4% | 43 | 42 | -41 | -20 |
| Near (Smart Contract Coin) | 2.90 | -0.8% | 35 | 75 | -41 | -12 |
| Fantom (Smart Contract Coin) | 0.36 | -0.6% | 36 | 42 | -41 | -20 |
| DogeCoin (Memecoin) | 0.08 | -0.8% | 35 | -33 | -41 | -39 |
| Decentraland (Gaming Coin) | 0.44 | -2.2% | 38 | -33 | -88 | -74 |
| The Sandbox (Gaming Coin) | 0.44 | -2.3% | 34 | -33 | -88 | -74 |
| Cosmos (Smart Contract Coin) | 9.16 | -4.9% | 32 | -33 | -88 | -74 |
| XRP (Smart Contract Coin) | 0.51 | -4.1% | 29 | -92 | 4 | -19 |
| Stellar (Privacy Coin) | 0.11 | -4.7% | 33 | -75 | -45 | -52 |
Secondary coins were mixed on the week, but there were sharp gains in Chainlink, up 25%, Avalanche up 13.7% and Solana up 8.7%. Chainlink tests the top of the short term range at 18, while Solana and Avalanche reassert short term uptrends.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 100.44 | 8.7% | 47 | 75 | 88 | 85 |
| ChainLink (Cross Chain Coin) | 17.79 | 25.3% | 53 | 83 | 47 | 56 |
| THORChain (Smart Contract Coin) | 4.41 | 1.6% | 38 | 0 | 47 | 36 |
| Avalanche (Smart Contract Coin) | 36.71 | 13.7% | 44 | 75 | 0 | 18 |
| Near (Smart Contract Coin) | 2.90 | -0.8% | 35 | 75 | -41 | -12 |
| Cardano (Smart Contract Coin) | 0.51 | 5.9% | 38 | 75 | -41 | -12 |
| XRP (Smart Contract Coin) | 0.51 | -4.1% | 29 | -92 | 4 | -19 |
| BNB Chain Native Token (Smart Contract Coin) | 301.15 | -0.4% | 43 | 42 | -41 | -20 |
| Fantom (Smart Contract Coin) | 0.36 | -0.6% | 36 | 42 | -41 | -20 |
| Polkadot (Cross Chain Coin) | 6.94 | 4% | 37 | 42 | -45 | -23 |
| Monero (Privacy Coin) | 168.65 | 5.8% | 47 | -33 | -41 | -39 |
| DogeCoin (Memecoin) | 0.08 | -0.8% | 35 | -33 | -41 | -39 |
| Theta Token (Gaming Coin) | 1.00 | 1.7% | 36 | -33 | -41 | -39 |
| Stellar (Privacy Coin) | 0.11 | -4.7% | 33 | -75 | -45 | -52 |
| Cosmos (Smart Contract Coin) | 9.16 | -4.9% | 32 | -33 | -88 | -74 |
| Polygon (Smart Contract Coin) | 0.80 | 5.2% | 36 | -33 | -88 | -74 |
| Decentraland (Gaming Coin) | 0.44 | -2.2% | 38 | -33 | -88 | -74 |
| The Sandbox (Gaming Coin) | 0.44 | -2.3% | 34 | -33 | -88 | -74 |
Solana now has the best trend within Secondary coins, being in a medium term uptrend now. Chainlink is also in a medium term uptrend. Most coins have a negative score overall. Approximately half the coins maintain short term uptrends with positive trend scores.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 46.66 | 1.4% | 1.6% | 36 | 8 | -45 | -32 |
| Block Inc | 67.88 | 1.8% | 4.5% | 39 | 8 | -92 | -67 |
| Coinbase Global Inc Cl A | 129.22 | 0.2% | 3.2% | 32 | 42 | -4 | 7 |
| Hive Blockchain Technologies Ltd | 3.12 | -3.7% | -6.6% | 31 | -42 | 7 | -5 |
| Marathon Digital Hldgs Inc | 18.20 | -2.2% | 2% | 38 | 75 | 47 | 54 |
| Microstrategy Cl A | 500.10 | -0.7% | 1.1% | 40 | -33 | 88 | 58 |
| Riot Blockchain Inc | 11.21 | -0.8% | -1.2% | 31 | -33 | -41 | -39 |
| Robinhood Markets Inc Cl A | 10.92 | 0.1% | 1.2% | 34 | 8 | -45 | -32 |
| Tesla Inc | 187.91 | -0.5% | 2.5% | 21 | -92 | -95 | -94 |
Crypto related equities were generally up modestly after sharp recent declines. Microstrategy, Hive and Riot all broke short term uptrends on the decline and may now be short term range traders.