[isatrader]

Bitcoin and Ethereum hitting new highs again and Solana isn't far off its highs either. Cardano lagging still after the recent pullback

               

[isatrader]

$LTC.X Litecoin with a breakout attempt from the six month range on strong relative volume. So potentially in the Sign of Strength (SoS) rally in Phase D. 

   

[isatrader]

$OGN.X Origin Protocol testing the top of the six month base structure. Potentially in Phase D

   

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Some crypto altcoins in interesting spots

$DBG.X, $HBAR.X, $INJ.X, $NEAR.X, $TVK.X, $OMG.X

                       

[isatrader]

$MANA.X Decentraland coin. Moving on the metaverse theme over the last few weeks and picking up again today after a fairly contained pulled back.

I took a small position in my crypto pension account

       

$MANA.X massive Stage 2 breakout this week on huge all time high volume. Related to Facebooks Meta announcement this week. MANA is decentralized 3D virtual reality platform supported by the Ethereum blockchain.

[isatrader]

$SAND.X The Sandbox showing the RS as the broader cryptos pullback (Metaverse theme)

   

[isatrader]

% Above 20 day MA: 25.83% (-28.53%)
% Above 50 day MA: 43.62% (-28.86%)
% Above 150 day MA: 72.48% (-12.08%)
% Above 200 day MA: 63.58% (-7.56%)

Average: 51.38% (-19.26% 1wk)

Status: Difficult Environment

   

               


Here's the individual Percentage of Crypto Currencies above their Moving Averages breadth charts.

               

[pcabc]

Crypto breadth

We are in a bit of a pullback at present across cryptos.  My breadth chart is below.  Key points:
1. Advance / Decline has diverged.  However, Advance / Declining volume (Bitcoin volume only), is at a new high.

3 & 4.  New Highs - New Lows is around zero.  The cummulative line is flat.  Neutral.

5 6. Weinstein Momentum & 1% A/D have both just crossed from positive territory to zero and are falling.  Bearish.

7, 8, 9 & 10.  The McClellan Oscillator, Summation Index and volume counterparts are all bearish.

11, 12 & 13.  The % stocks above their 20, 50 and 200 day EMAs have all dropped, with the % above the 200 day EMA being only just above 50%.

14 & 15.  Silver and Gold Cross Indices have rolled over, though rather early to see if the recent rising trend of the Gold Cross Index is reversing or whether this is just temporary.

I note Etherium has, as of posting made a +7% move.  However, taking Etherium and Bitcoin out the picture the rest of the cryptos are minnows.  So how relevant is this breadth plot to Bitcoin and Etherium?  I must admit I have been tempted to buy on the dip.  However, overall crypto breadth from the chart is looking rather negative so perhaps hold off until things start to strengthen.  Of course, it won't strengthen until some start moving up so I will likely miss the first movers. 

   

[isatrader]

$MANA.X and $SAND.X both with strong moves to new highs today. Continuing to show really strong RS versus the other cryptos currently, based on the metaverse theme.