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9th December 2023: Weekly Crypto Trends

Crypto Assets
Bitcoin and Ethereum have strong moves on the week, being up 14% and 13% respectively on the week.
Secondary coins were sharply better on the week, with gains of 40% in Avalanche and Cardano, followed by gains of 25% in Solana and Polkadot. All coins under review except BNB are in short term uptrends, and Avalanche, Cardano, Solana, Chainlink all make new short term highs.
Crypto related equities all made substantial gains with Marathon up 22%, Hive up 21% and Microstrategy up 13%. Coinbase now approaches some resistance at 150, Microstrategy makes new short term highs.

Other Crypto news
El Salvador Joy: Bitcoin’s rally to an 18-month high over $42,000 has pushed El Salvador’s BTC buys into the black, said the country’s president Nayib Bukele.

U.S. Senator Elizabeth Warren has popped out of the woodwork again, calling for the country’s Bank Secrecy Act to be updated to address the “threat” of crypto. “What we need to do is we need to update it again because there’s a new threat out there. It’s crypto,” Warren conveniently forgets that the vast majority of money laundering from drugs is undertaken in US Dollars. Maybe she needs to take another pill.

Major Coin Summary
NameCloseDaily Ch %Wk ChWk Ch %RSIST ScoreLT ScoreOverall
Bitcoin44,166.602%5477.8514.2%69505050
Ethereum2,358.730%271.5913%6617-41-27

Bitcoin and Ethereum have strong moves on the week, being up 14% and 13% respectively on the week.

Ratio Chart

The ratio chart encounters the top of the range.

Secondary Coin Summary

Weekly change – highest to lowest

NameCloseWk Ch %RSIST ScoreLT ScoreOverall
Cardano (Smart Contract Coin)0.5542.1%7867-85-48
Avalanche (Smart Contract Coin)30.6440.1%84100-85-40
Near (Smart Contract Coin)2.3825.9%7067-85-48
Solana (Smart Contract Coin)75.0025.4%7192324
Polkadot (Cross Chain Coin)6.8424.9%7325-92-63
DogeCoin (Memecoin)0.1021%7158-88-52
The Sandbox (Gaming Coin)0.4919.1%69-25-88-72
Decentraland (Gaming Coin)0.5218.5%6850-88-54
Fantom (Smart Contract Coin)0.3716.9%6650-88-54
Theta Token (Gaming Coin)1.1616.4%6750-88-54
Polygon (Smart Contract Coin)0.9113.4%678-88-64
ChainLink (Cross Chain Coin)16.9413.1%6683322
Cosmos (Smart Contract Coin)10.4110%6817-88-62
Stellar (Privacy Coin)0.1310.5%578-45-32
XRP (Smart Contract Coin)0.679.8%57075
BNB Chain Native Token (Smart Contract Coin)238.924.5%53-42-88-77
Monero (Privacy Coin)174.191.5%528-41-29
THORChain (Smart Contract Coin)6.490.4%6975018

Secondary coins were sharply better on the week, with gains of 40% in Avalanche and Cardano, followed by gains of 25% in Solana and Polkadot. All coins under review except BNB are in short term uptrends, and Avalanche, Cardano, Solana, Chainlink all make new short term highs.

Trend score – best to worst

NameCloseWk Ch %RSIST ScoreLT ScoreOverall
Solana (Smart Contract Coin)75.0025.4%7192324
ChainLink (Cross Chain Coin)16.9413.1%6683322
THORChain (Smart Contract Coin)6.490.4%6975018
XRP (Smart Contract Coin)0.679.8%57075
Monero (Privacy Coin)174.191.5%528-41-29
Stellar (Privacy Coin)0.1310.5%578-45-32
Avalanche (Smart Contract Coin)30.6440.1%84100-85-40
Near (Smart Contract Coin)2.3825.9%7067-85-48
Cardano (Smart Contract Coin)0.5542.1%7867-85-48
DogeCoin (Memecoin)0.1021%7158-88-52
Fantom (Smart Contract Coin)0.3716.9%6650-88-54
Decentraland (Gaming Coin)0.5218.5%6850-88-54
Theta Token (Gaming Coin)1.1616.4%6750-88-54
Cosmos (Smart Contract Coin)10.4110%6817-88-62
Polkadot (Cross Chain Coin)6.8424.9%7325-92-63
Polygon (Smart Contract Coin)0.9113.4%678-88-64
The Sandbox (Gaming Coin)0.4919.1%69-25-88-72
BNB Chain Native Token (Smart Contract Coin)238.924.5%53-42-88-77
NameCloseDaily Ch %Wk Ch %RSIST ScoreLT ScoreOverall
Ark Innovation ETF49.181.8%1.5%7817-92-65
Block Inc69.171%6.3%93-25-92-76
Coinbase Global Inc Cl A146.627.7%9.6%8692-121
Hive Blockchain Technologies Ltd4.207.1%21%67-330-8
Marathon Digital Hldgs Inc16.788.2%22.5%7850-88-54
Microstrategy Cl A599.395%13.6%73929191
Riot Blockchain Inc15.836.4%15%7317-41-27
Robinhood Markets Inc Cl A11.732.2%25.9%66-33-88-74
Tesla Inc243.840.5%2.1%67-42-92-80

Crypto related equities all made substantial gains with Marathon up 22%, Hive up 21% and Microstrategy up 13%. Coinbase now approaches some resistance at 150, Microstrategy makes new short term highs.