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Stock Markets vs. Cryptocurrency Markets: Review of Weekly Performance, February 10th to 16th

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The opinions expressed herein are those of the United States. author and do not necessarily reflect the opinions of Cointelegraph.com. Every movement of investment and trading involves risks, you should conduct your own research when making a decision.

Market data information available from HitBTC exchange

The stock and cryptocurrency markets regrouped last week, each of them having recovered previous losses. Investors will continue to monitor the signs of inflation and the upward trend in rates. The 10-year US Treasury yield pushed up global rates, hitting a four-year high last week of 2.93. Yet, for the moment, it seems that the initial concerns have dissipated. The dollar is down against most assets, which seems to help stocks. All major stock markets were positive, with India's BSE Sensex index being the weakest, up only 0.015%.

<img alt=" Stock "src =" https://cointelegraph.com/storage/uploads/view/e9bf2a9f6bb8f0433a2a717185e50129.png "title =" Stock "/>

Much of the Asia was closed Last Friday, due to the Chinese New Year, the Hang Seng was able to end its 4-day trading week with a 5.4% advance to close at 31,115.40, while the Shanghai Composite rose by 2.2% to close at 3,199.16 Japan (BOJ) Governor Kuroda announced that he would remain for another term that was seen as supporting the pursuit of accommodative monetary policies, which was positively perceived by the market, the Nikkei 225 progressing 1.6% for the week to 21,720.25.]

The S & P 500 has advanced for each of the last six days (due to a stall or a downturn), which should in turn make investors think, because the probabilities now favor a decline o u a short-term decline. in the new week the US financial markets are closed on Monday for a government and bank holiday. The DAX Index found support at 13.003.4 two weeks ago, where it completed a Fibonacci retracement of 88.6% from the previous rally and was 11.77% liquidity in global markets heading towards the week

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% of its record peak of 13,596.90 compared to the previous month. This low level of support was also around a previous low at 11,868.80 compared to August of last year, with a relative strength index (RSI) of 14 days in a territory of oversold clear. The RSI has been the most oversold since August 2015. This means that the structure of the uptrend, higher swing highs and higher swing lows, has been maintained, at least until now. Therefore, a decent recovery could follow soon. It also means that the lowest of August is a critical support and that a break below the uptrend is more important at the risk of a deeper corrective phase.

<img alt=" DAX "src =" https://cointelegraph.com/storage/uploads/view/4d92f3586e7922e6a2174ba82edde51a.png "title =" DAX "/>

S & P 500 Index (SPX)

The S & P 500 index peaked at 2,872.87 four weeks ago, two weeks ago a drop in waterfall was recorded to support 2,532.69, support was observed at the 200-day moving average (purple line) and at the 61.8% Fibonacci retracement level.This is a significant moving average , and the first time that it is approached in a while, it will reverse frequently or at least will show a decline. The index soared 8.7% from the record high of 2,754 , 42 from last week.

The SPX has been rising for six days in a row and is now expected to be in decline, with the RSI oversold and rebounding since then. is bullish. Look at the character of the withdrawal of last week's increase of 2,754.42 as well as the volatility that accompanies it for the signs of what will follow. The key support from two weeks ago is known. A drop below is bearish. Otherwise, the possibility of a continuation of the long-term uptrend remains.

<img alt=" SPX "src =" https://cointelegraph.com/storage/uploads/view/9de6c22f2a0e98cef3104366c59d6787.png "title =" SPX "/>

Cryptocurrencies: From good performances at all levels

Large-cap cryptocurrencies have continued to grow for two weeks last week, making it easier to pay cryptocurrency merchants, including Bitcoin, Bitcoin Cash, Ethereum , and Litecoin.

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Litecoin led the way for cryptos up $ 64.14 or 39.1% to $ 228.24, with some developments appearing to be the driving force ahead, including including a planned range of Litecoin Cash and the announcement that LitePay, a merchant payment processing application for cryptocurrency will be launched on February 26.

<img alt=" Crypto "src =" https: // cointelegraph.com/storage/u XRP, Ripple's cryptocurrency was the second best performance last week, up $ 0.20 or 21.5% to finish at $ 1.12. Western Union has confirmed that it has tested Ripple technology with the Saudi Monetary Authority

Bitcoin Cash and Bitcoin, respectively up 17.9% and 17.3%. Bitcoin Cash advanced $ 232.90 to close the week at $ 1,532.90, while Bitcoin ended at $ 10,196, up $ 1,502.02

The weakest included Ethereum , up just $ 59.37 or 6.8% to $ 937.38. % to finish at $ 2.10

Ripple (XRP / USD): Bullish descending wedge breakout

Ripple broke out of a bullish wedge pattern descending seven days ago. The first revolutionary rally brought crypto to $ 1.23 before the resistance took hold. At that time, it was up more than 118% from the low of $ 0.562 two weeks ago. This decline nearly completed a Fibonacci retracement of 88.6% from the previous rally, and put the XRP / USD pair 82.6% below its record of $ 3.35 in early January. After the initial spike at $ 1.23, Ripple is bent to test support for the downtrend line before winding up. Withdrawal can be better seen in intraday charts rather than everyday. This is a classic bullish price increase, where a break occurs, followed by an advance and then a fallback to test for past resistance as a support before the ## EQU1 ## 39, continuous advance.

<img alt=" XPR "src =" https: / /contelegraph.com/storage/uploads/view/f7dcc334a086ef9598c51d4ffcd0d3f7.png "title =" XPR "/>

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All of the following above provide a good basis for concluding that the lowest was probably achieved for Ripple and that the dominant bias in the coming weeks or months is on the rise, since weakness is better monitored for opportunities. enter at lower prices, either for investment or trading purposes.

IOTA (IOT / USD): Another upside break, but a little less clear

] There is also a bullish corner break that occurred at IOTA, 5 days ago This corner is not as clear and distinct as the wed ge in Ripple as it is contained in a more big downtrend, but it is still there.The IOTA / USD pair found a fund at $ 1.20 two weeks ago and has more than 84% due to Saturday's high of $ 2,212. He then faces potential resistance around his bearish trend line, which drops from the record high of $ 5.80 in December. At the lowest point, two weeks ago, the coin had dropped by up to 79%

<img alt=" IOT "src =" https://cointelegraph.com/storage/uploads/view/11bd010cdf7bd9de13b1d45e052e14e3.png "title =" IOT "/>

Given the degree of recent retracement, as well as the reaction to the lowest, it seems that IOTA has a minimum.

Market data is provided by HitBTC Exchange, the graphics are provided by TradingView.

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