The last week saw again the crypto market in full swing. All the top projects recorded good performances. With respect to this, we have to note how even the mood in traditional financial markets has switched again to positive. In this phase, it looks like cryptos are benefiting from a similar dynamic to that of the other risky assets, with low rates overall not providing interesting yield opportunities. In this context, new technologies and interesting projects catch the eyes of a wider amount of investors looking for valid alternatives or simply the best opportunity in terms of potential growth.
Overall, altcoins clearly overperfomed BTC as represented by our indexes.
On a wider period, Cardano (ADA) and Chainlink (LINK) are the best projects in terms of return, ., while XRP is showing the highest volatility by far.
Looking at the last seven days’ prices, XRP and TRX are experiencing the biggest correction from the top of their range, while the other projects are still very much skewed upwards.
Looking at technicals, on a 30-days setting the inversion in MACD which was apparent last week actually materialized. the situation is still looking bright going ahead, both looking at MACD and at moving averages’ difference.
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. Among top projects, Bitcoin Cash (BCH) looks like the weakest projects with respect to BTC.
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