4th November 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin and Ethereum registered gains of 2.4% and 2.9% respectively in the week.
Secondary coins had very solid gains on the week, with standout gains of 39.6% in Thorchain, 24.5% in Solana and 20.8% in Near. Solana, Chainlink and Thorchain makes new short term highs, but become short term overbought. Ripple and Monero are the other coins in short term uptrends, leaving the majority still in downtrends but having enjoyed an oversold rally.
Crypto related equities were also better on the week, aided by a strong rally in markets. Block enjoyed an oversold rally of 21.6% from recent lows, while Coinbase rallied 21.2%, helped by better than expected results. Riot was up 19.4%. Microstrategy was up 11.6%, testing recent highs.
News
Sam Bankrupt-Lied was duly convicted after a court case lasting more than 20 days. It did not take the jury long to decide he was guilty on all counts.
PayPal on Wednesday became a registered crypto provider with the U.K.’s Financial Conduct Authority (FCA), meaning that it can begin marketing its digital asset services to clients in the UK.
Crypto exchange Coinbase reported a third-quarter loss on Thursday but beat analysts’ expectations. The stock was up 21% on the week. Block also reported Q3 earnings that exceeded expectations. Block’s share price also rallied 21% having recently tested 2020 lows.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 34,732.33 | -0.6% | 804.08 | 2.4% | 78 | 58 | 0 | 14 |
| Ethereum | 1,832.80 | 1.8% | 51.09 | 2.9% | 65 | -33 | -88 | -74 |
Bitcoin and Ethereum registered gains of 2.4% and 2.9% respectively in the week.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| THORChain (Smart Contract Coin) | 3.37 | 39.6% | 72 | 100 | -41 | -6 |
| Solana (Smart Contract Coin) | 39.52 | 24.5% | 77 | 100 | -88 | -42 |
| Near (Smart Contract Coin) | 1.48 | 20.8% | 73 | -25 | -88 | -72 |
| Decentraland (Gaming Coin) | 0.40 | 17.6% | 68 | -33 | -88 | -74 |
| Theta Token (Gaming Coin) | 0.75 | 17.3% | 65 | -33 | -88 | -74 |
| Avalanche (Smart Contract Coin) | 12.11 | 14.3% | 66 | -33 | -88 | -74 |
| Cardano (Smart Contract Coin) | 0.33 | 13.6% | 76 | -25 | -88 | -72 |
| XRP (Smart Contract Coin) | 0.61 | 12.5% | 68 | 8 | -41 | -29 |
| The Sandbox (Gaming Coin) | 0.36 | 12.3% | 64 | -75 | -88 | -85 |
| Polkadot (Cross Chain Coin) | 4.62 | 11.5% | 61 | -75 | -92 | -88 |
| Cosmos (Smart Contract Coin) | 7.76 | 10.3% | 59 | -75 | -88 | -85 |
| Polygon (Smart Contract Coin) | 0.67 | 10.2% | 67 | -33 | -88 | -74 |
| Stellar (Privacy Coin) | 0.12 | 9.3% | 58 | -33 | -45 | -42 |
| Fantom (Smart Contract Coin) | 0.25 | 7.5% | 67 | -33 | -88 | -74 |
| Monero (Privacy Coin) | 170.85 | 6.2% | 74 | 17 | -88 | -62 |
| BNB Chain Native Token (Smart Contract Coin) | 230.61 | 2.7% | 61 | -33 | -88 | -74 |
| ChainLink (Cross Chain Coin) | 11.48 | 2.5% | 72 | 100 | -41 | -6 |
| DogeCoin (Memecoin) | 0.07 | 0.4% | 61 | -33 | -88 | -74 |
Secondary coins had very solid gains on the week, with standout gains of 39.6% in Thorchain, 24.5% in Solana and 20.8% in Near. Solana, Chainlink and Thorchain makes new short term highs, but become short term overbought. Ripple and Monerso are the other coins in short term uptrends, leaving the majority still in downtrends but having enjoyed an oversold rally.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 40.44 | 5.6% | 18.6% | 54 | -75 | -92 | -88 |
| Block Inc | 48.68 | 10.7% | 21.6% | 57 | -75 | -92 | -88 |
| Coinbase Global Inc Cl A | 85.80 | 1.4% | 21.2% | 61 | 8 | -45 | -32 |
| Hive Blockchain Technologies Ltd | 3.34 | 1.2% | 13.6% | 56 | -75 | 0 | -18 |
| Marathon Digital Hldgs Inc | 9.41 | -4.6% | 6.2% | 57 | -75 | -88 | -85 |
| Microstrategy Cl A | 453.95 | 0.1% | 11.6% | 74 | 50 | 88 | 79 |
| Riot Blockchain Inc | 11.39 | 0.8% | 19.4% | 61 | -75 | -41 | -49 |
| Robinhood Markets Inc Cl A | 9.69 | 2.2% | 8.9% | 51 | -75 | -88 | -85 |
| Tesla Inc | 219.96 | 0.7% | 6.1% | 43 | -75 | -92 | -88 |
Crypto related equities were also better on the week, aided by strong rally in markets. Block enjoyed oversold rally of 21.6% from recent lows, while Coinbase rallied 21.2%, helped by better than expected results. Riot was up 19.4%. Microstrategy was up 11.6%, testing recent highs.