7th January 2024: Weekly Crypto Trends
Bitcoin rallies 5% on the week and tests the top of the range again. Ethereum is little changed and remains above support at 2120
Secondary coins were lower on the week with falls of around 10%. Thorchain consolidates to support at 5 and Cosmos finds some support at 10. Most coins now trade mid-range after correcting recent gains.
Crypto related equities generally fell last week as the Nadaq 100 fell by 3%. Block was down 13.4%, followed by Coinbase at 11.5%. The latter now tests support at 150. Marathon was the exception with a gain of 2.7%
Bloomberg analysts suggest there is a 90% chance of a Bitcoin ETF being approved by 10th January.
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Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 44,162.69 | -0% | 2063.29 | 4.9% | 62 | 42 | 47 | 46 |
| Ethereum | 2,268.65 | -0% | -32.04 | -1.4% | 58 | 8 | 7 | 7 |
Bitcoin rallies 5% on the week and tests the top of the range again. Ethereum is little changed and remains above support at 2120.
Ratio Chart
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) | 317.45 | 1.1% | 76 | 50 | -88 | -54 |
| THORChain (Smart Contract Coin) | 5.23 | -1.9% | 39 | 75 | 47 | 54 |
| Near (Smart Contract Coin) | 3.55 | -2% | 67 | 75 | -41 | -12 |
| Cosmos (Smart Contract Coin) | 10.31 | -6.2% | 55 | 42 | -88 | -56 |
| Solana (Smart Contract Coin) | 99.98 | -6% | 65 | 75 | 88 | 85 |
| Monero (Privacy Coin) | 155.90 | -6.5% | 44 | 0 | -41 | -31 |
| XRP (Smart Contract Coin) | 0.58 | -7.5% | 45 | 0 | 7 | 5 |
| Stellar (Privacy Coin) | 0.12 | -8.1% | 50 | 0 | -45 | -34 |
| Avalanche (Smart Contract Coin) | 36.43 | -9.4% | 65 | 75 | 0 | 18 |
| ChainLink (Cross Chain Coin) | 14.07 | -9.5% | 49 | 75 | 0 | 18 |
| DogeCoin (Memecoin) | 0.08 | -9.1% | 52 | 0 | -41 | -31 |
| Theta Token (Gaming Coin) | 1.15 | -9.7% | 56 | 75 | -88 | -48 |
| Polkadot (Cross Chain Coin) | 7.45 | -10.2% | 62 | 75 | -45 | -15 |
| Decentraland (Gaming Coin) | 0.46 | -10.6% | 52 | 42 | -88 | -56 |
| The Sandbox (Gaming Coin) | 0.51 | -10.9% | 59 | 42 | -88 | -56 |
| Fantom (Smart Contract Coin) | 0.42 | -11.1% | 61 | 75 | -41 | -12 |
| Cardano (Smart Contract Coin) | 0.54 | -11.1% | 62 | 75 | -41 | -12 |
| Polygon (Smart Contract Coin) | 0.85 | -12.5% | 55 | 42 | -88 | -56 |
Secondary coins were lower on the week with falls of around 10%. Thorchain consolidates to support at 5 and Cosmos finds some support at 10. Most coins now trade mid-range after correcting recent gains.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 99.98 | -6% | 65 | 75 | 88 | 85 |
| THORChain (Smart Contract Coin) | 5.23 | -1.9% | 39 | 75 | 47 | 54 |
| Avalanche (Smart Contract Coin) | 36.43 | -9.4% | 65 | 75 | 0 | 18 |
| ChainLink (Cross Chain Coin) | 14.07 | -9.5% | 49 | 75 | 0 | 18 |
| XRP (Smart Contract Coin) | 0.58 | -7.5% | 45 | 0 | 7 | 5 |
| Near (Smart Contract Coin) | 3.55 | -2% | 67 | 75 | -41 | -12 |
| Fantom (Smart Contract Coin) | 0.42 | -11.1% | 61 | 75 | -41 | -12 |
| Cardano (Smart Contract Coin) | 0.54 | -11.1% | 62 | 75 | -41 | -12 |
| Polkadot (Cross Chain Coin) | 7.45 | -10.2% | 62 | 75 | -45 | -15 |
| Monero (Privacy Coin) | 155.90 | -6.5% | 44 | 0 | -41 | -31 |
| DogeCoin (Memecoin) | 0.08 | -9.1% | 52 | 0 | -41 | -31 |
| Stellar (Privacy Coin) | 0.12 | -8.1% | 50 | 0 | -45 | -34 |
| Theta Token (Gaming Coin) | 1.15 | -9.7% | 56 | 75 | -88 | -48 |
| BNB Chain Native Token (Smart Contract Coin) | 317.45 | 1.1% | 76 | 50 | -88 | -54 |
| Cosmos (Smart Contract Coin) | 10.31 | -6.2% | 55 | 42 | -88 | -56 |
| Polygon (Smart Contract Coin) | 0.85 | -12.5% | 55 | 42 | -88 | -56 |
| Decentraland (Gaming Coin) | 0.46 | -10.6% | 52 | 42 | -88 | -56 |
| The Sandbox (Gaming Coin) | 0.51 | -10.9% | 59 | 42 | -88 | -56 |
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 48.90 | -0% | -6.6% | 57 | 8 | -45 | -32 |
| Block Inc | 66.96 | -1.7% | -13.4% | 59 | 42 | -92 | -59 |
| Coinbase Global Inc Cl A | 153.98 | -1% | -11.5% | 61 | 75 | -4 | 15 |
| Hive Blockchain Technologies Ltd | 4.15 | -4.6% | -8.4% | 59 | 42 | 47 | 46 |
| Marathon Digital Hldgs Inc | 24.12 | -8.2% | 2.7% | 67 | 75 | 0 | 18 |
| Microstrategy Cl A | 631.08 | -3.8% | -0.1% | 62 | 75 | 88 | 85 |
| Riot Blockchain Inc | 14.83 | -6.5% | -4.1% | 58 | 42 | -41 | -20 |
| Robinhood Markets Inc Cl A | 11.89 | -0.8% | -6.7% | 69 | 42 | -41 | -20 |
| Tesla Inc | 237.49 | -0.2% | -4.4% | 51 | 0 | -92 | -69 |
Crypto related equities generally fell last week as the Nadaq 100 fell by 3%. Block was down 13.4%, followed by Coinbase at 11.5%. The latter now tests support at 150. Marathon was the exception with a gain of 2.7%