WEEKLY MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index has bounced-off the support levels and gained by 5% during the last week. The critical support is expected at 17,000 level and immediate resistance is expected around 21,000 levels for the coming week
The top gainers for the week were Starbucks, Nvidia and Micron tech gaining around 26%, 19% & 16% respectively.
The NASDAQ Index is expected to continue on its upwards trajectory from here on.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market remains in the FEAR zone. Compared to last week, the Fear & Greed Index decreased from “25” to “31”
BITCOIN – aSOPR
aSOPR for this week is equal to 1 which indicates that the investors are selling their Bitcoins at breakeven price.
CVDD-TOP CAP PRICE CHART INDICATOR
Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $390,000
BITCOIN MVRV Z-Score
The period highlighted by the z-score (orange line) entering the pink box, indicates the top of market cycles. It also shows when market value is far below realized value, highlighted by z-score entering the green box. Currently we are in the middle of the bull cycle
Bitcoin chart
ETH/BTC
ETH/BTC pair continues to traverse within the descending channel pattern. An immediate support is expected at 0.040 level and resistance is expected at 0.060 levels.
NIFTY
Nifty bounced back from the support and gained around 1% in the last week. An immediate support is expected around 24,000 levels and resistance is expected around 25,500.
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