8th July 2024: Weekly Crypto Trends
Bitcoin and Ethereum had very sharp weekly falls of 6.1% and 11.6% respectively on the week, both breaking short term supports. Bitcoin has support at 50000, while Etherereum has support at 2700, and possibly 2850.
Secondary coins were also very weak, with a fall of 21% in Fantom and 15% in Polygon, Cosmos and Theta. Several coins makes new short term lows, including Avalanche, Cardano, Cosmos, Polgon, Ripple and Thorchain. Solana tests support at 125.
Crypto related equities were mixed, with Hive up 8.4% and Microstrategy down 7%; the latter forms a short term top.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 56,662.37 | -0.6% | -3657.76 | -6.1% | 33 | 0 | 47 | 36 |
| Ethereum | 2,981.60 | -2.4% | -392.04 | -11.6% | 28 | 25 | 4 | 9 |
Bitcoin and Ethereum had very sharp weekly falls of 6.1% and 11.6% respectively on the week, both breaking short term supports. Bitcoin has support at 50000, while Etherereum has support at 2700, and possibly 2850.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 134.37 | -3.8% | 38 | 0 | 88 | 66 |
| Stellar (Privacy Coin) | 0.09 | -5.9% | 29 | -92 | -95 | -94 |
| Monero (Privacy Coin) | 155.19 | -7.4% | 56 | 42 | -45 | -23 |
| Polkadot (Cross Chain Coin) | 5.67 | -8.2% | 35 | -75 | -45 | -52 |
| Avalanche (Smart Contract Coin) | 25.13 | -9.9% | 31 | -75 | 7 | -13 |
| Cardano (Smart Contract Coin) | 0.35 | -9.2% | 31 | -83 | -41 | -51 |
| XRP (Smart Contract Coin) | 0.43 | -9.6% | 30 | -92 | -91 | -91 |
| Near (Smart Contract Coin) | 4.42 | -10.9% | 29 | -8 | 45 | 32 |
| ChainLink (Cross Chain Coin) | 12.31 | -10.6% | 27 | -92 | 4 | -19 |
| BNB Chain Native Token (Smart Contract Coin) | 498.00 | -12.1% | 39 | 33 | 47 | 44 |
| THORChain (Smart Contract Coin) | 3.36 | -14.4% | 20 | -100 | 4 | -21 |
| DogeCoin (Memecoin) | 0.11 | -14% | 25 | -42 | 4 | -7 |
| Decentraland (Gaming Coin) | 0.29 | -14.3% | 25 | -92 | -91 | -91 |
| Cosmos (Smart Contract Coin) | 5.71 | -15% | 23 | -100 | -95 | -96 |
| Polygon (Smart Contract Coin) | 0.47 | -15.2% | 24 | -100 | -91 | -93 |
| Theta Token (Gaming Coin) | 1.27 | -15.5% | 26 | -83 | 4 | -17 |
| The Sandbox (Gaming Coin) | 0.28 | -16.4% | 27 | -92 | -91 | -91 |
| Fantom (Smart Contract Coin) | 0.42 | -21.4% | 27 | -50 | 4 | -9 |
Secondary coins were also very weak, with a fall of 21% in Fantom and 15% in Polygon, Cosmos and Theta. Several coins makes new short term lows, including Avalanche, Cardano, Cosmos, Polgon, Ripple and Thorchain. Solana tests support at 125.
Trend score – best to worst
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Solana (Smart Contract Coin) | 134.37 | -3.8% | 38 | 0 | 88 | 66 |
| BNB Chain Native Token (Smart Contract Coin) | 498.00 | -12.1% | 39 | 33 | 47 | 44 |
| Near (Smart Contract Coin) | 4.42 | -10.9% | 29 | -8 | 45 | 32 |
| DogeCoin (Memecoin) | 0.11 | -14% | 25 | -42 | 4 | -7 |
| Fantom (Smart Contract Coin) | 0.42 | -21.4% | 27 | -50 | 4 | -9 |
| Avalanche (Smart Contract Coin) | 25.13 | -9.9% | 31 | -75 | 7 | -13 |
| Theta Token (Gaming Coin) | 1.27 | -15.5% | 26 | -83 | 4 | -17 |
| ChainLink (Cross Chain Coin) | 12.31 | -10.6% | 27 | -92 | 4 | -19 |
| THORChain (Smart Contract Coin) | 3.36 | -14.4% | 20 | -100 | 4 | -21 |
| Monero (Privacy Coin) | 155.19 | -7.4% | 56 | 42 | -45 | -23 |
| Cardano (Smart Contract Coin) | 0.35 | -9.2% | 31 | -83 | -41 | -51 |
| Polkadot (Cross Chain Coin) | 5.67 | -8.2% | 35 | -75 | -45 | -52 |
| XRP (Smart Contract Coin) | 0.43 | -9.6% | 30 | -92 | -91 | -91 |
| Decentraland (Gaming Coin) | 0.29 | -14.3% | 25 | -92 | -91 | -91 |
| The Sandbox (Gaming Coin) | 0.28 | -16.4% | 27 | -92 | -91 | -91 |
| Polygon (Smart Contract Coin) | 0.47 | -15.2% | 24 | -100 | -91 | -93 |
| Stellar (Privacy Coin) | 0.09 | -5.9% | 29 | -92 | -95 | -94 |
| Cosmos (Smart Contract Coin) | 5.71 | -15% | 23 | -100 | -95 | -96 |
The trend profile of Secondary coins has deteriorated sharply with recent new lows, leaving only Monero with a positive short term trend score, the rest all being negative. In the medium term, Solana, BNB and Near retain positive trend scores.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 45.95 | 0.7% | 4.6% | 57 | -42 | -45 | -44 |
| Block Inc | 65.78 | 2.1% | 2% | 48 | -75 | -45 | -52 |
| Coinbase Global Inc Cl A | 223.68 | -0.6% | 0.7% | 46 | 75 | 47 | 54 |
| Hive Blockchain Technologies Ltd | 3.34 | 9.5% | 8.4% | 60 | 0 | -41 | -31 |
| Marathon Digital Hldgs Inc | 20.17 | -3.9% | 1.6% | 47 | 42 | 7 | 15 |
| Microstrategy Cl A | 1,281.72 | -1.6% | -7% | 35 | 75 | 88 | 85 |
| Riot Blockchain Inc | 9.64 | 0.7% | 5.5% | 45 | -75 | -88 | -85 |
| Robinhood Markets Inc Cl A | 22.68 | -0.9% | -0.1% | 58 | 83 | 47 | 56 |
| Tesla Inc | 251.52 | 2.1% | 27.1% | 80 | 17 | -92 | -65 |
Crypto related equities were mixed, with Hive up 8.4% and Microstrategy down 7%; the latter forms a short term top.