Weekly Crypto Report: cryptos don’t care about Goldman, ADA even less

Table of Crypto performance May 29

GENERAL OVERVIEW

The last week was a moderately good one for the market, which is currently in a lateral/consolidation phase in which some of the altcoins are significantly recovering ground with respect to BTC and BTC itself is seemingly still experiencing an uptrend.

Still, Bitcoin seemingly did not care, closing at 9’445 USD,  down 2.41% w/w.

Bitcoin price graph May 29

Overall, top projects slightly overperformed BTC on aggregate and this is reflected in our indexes.

Crypto Index Performance Graph April 29

TOP PROJECTS

All in all, BTC bested the majority of our selection of top crypto projects, but still, some managed to overperform it so significantly that the overall result favors the top projects’ index. On average, results ranged from -1.86% to +20.88% w/w with a median value of +1.43% w/2.

crypto return standard deviation scatter May 29
Cardano price graph May 29

On the other hand, Ripple (XRP) was the worst project in our sample, despite not even losing 2% of its value during the week.

In a wider period, ADA keeps being the best performer, with this week’s result making it a clear lead over its peers, distancing the second place holder NEO (NEO) of circa 20 percentage points in terms of return.

crypto returns volatility May 29

TECHNICALS

Crypto price range may 29

Looking at the last seven days’ price range, all the projects seem to be in the upper half of their price range, with IOTA( IOTA) the nearest to the half point, confirming the positive tone of the market during the last days.

crypto top projects technical signals weekly may 29
crypto top projects technical signals monthly may 29
30 days price range top crypto projects may 29
weekly price frequency distribution crypto bitcoin 29 may

We proceed to have a look at the frequency distributions of the coins’ price in terms of satoshis to have a look at the relative performances. ADA and ETH are trading at their highest level of the week relative to BTC, with the former actually trading at the far right tail of the distribution, where it would need a consolidation in order to keep the current price level as the new “fair”.

In a wider period, ADA has no rival as far as relative positioning with respect to BTC regards.

30 days ratio histogram vs bitcoin

DISCLAIMER

The views expressed in this report reflect the analysts’ personal views about the cryptocurrencies subject of the report. These views may change without notice and are subject to market conditions. The report is prepared for information purposes only and by no means constitutes a solicitation to investment or disinvestment. All the data are taken from Binance at 14:00 UTC on the 29th of May 2020. USD and USDT are used interchangeably for illustration purposes. All the presented valuations, indicators, and analyses are subject to errors. The report is for personal use only and should not be republished or redistributed.