Weekly Crypto Report, only XMR defies the downtrend

GENERAL OVERVIEW

The past week was a negative one for the cryptocurrency market. BTC uptrend appears to be losing some steam going into the end of the year. However, finding a sound ground in terms of price around 18’000 USD is an aimportant achievement. The first time BTC crossed the 15’000 USD marks, it was actually able to keep it for less than a couple months. Not pushing considerably back would be a great result in itself.

Overall, still BTC performed better than top altcoins as represented by our indexes.

TOP PROJECTS

On a wider period, Ripple (XRP) and Stellar (XLM) are still far and away the best projects in terms of return, with only Binance Coin (BNB), Bitcoin Cash (BCH), and Chainlink (LINK) negative for the period.

TECHNICALS

Looking at the last seven days’ prices, the downtrend happening in the market is very clear. All the coins are trading in the lower half of their price range.

Looking at technicals, on a 7-days period MACD and moving averages differences are giving opposite signals. The most worrying sing, however, is given by MACD on a 30-days period, which is deeply negative and shows no signs of inversion.

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. The same conclusion we got from our technical indicators can be seen in these distributions, with XMR standing out both on a 7-days and a 30-days period.

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 13th November 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