The market market, a key indicator used to understand the general health of a market or an index, indicates that both the crypto market and the technological index of Wall Street, the NASDAQ, are experiencing short -term weakness within a long -term upward trend.
The amplitude is usually measured by comparing the number of advanced actions or cryptocurrencies with which they decrease. Operators also analyze the number of assets that are operated above or below key mobile averages, such as 50 days and 200 days SMA, to evaluate market trends in the short and long term. This article focuses specifically on these amplitude indicators of mobile average.
At the time of writing, 63 of the 100 main cryptocurrencies for market value, including Bitcoin
negotiated above its respective 200 -day simple mobile (SMA)According to Data Fuente TradingView.
The 100 main currencies have market capitalizations of more than $ 1 billion and are less prone to price manipulation than their smallest counterparts.
At the same time, 50 coins were negotiated below their 50 -day SMA.
Interestingly, Nasdaq, which includes 100 actions, showed a similar profile on Monday, with 61 shares that quote above their 200 -day and 49 SMA below their 50 -day SMA.
Transcendence
The data indicates that the long -term trend for both markets remains optimistic, with a clear majority of the assets that quote above their 200 -day SMA. The 200 -day average is widely tracked as a barometer for long -term trends of retail and institutional investors.
That said, the immediate perspective is constantly worse, since 50% of the assets in both markets trade below the 50 -day SMA, which is an indicator of short -term trends. A price below this average suggests a recent loss of impulse and a possible short -term bearish trend.
The identical market amplitude of the two markets suggests that short -term weakness is not an isolated event, but a generalized phenomenon that affects both cryptocurrency markets and traditional markets. Perhaps, merchants in both markets are eliminating their portfolios before the imminent speech of the president of the Federal Reserve, Jerome Powell, in the Jackson Hole symposium this week.
Read more: Crypto Traders Eye Jackson Hole As Ether, XRP, Solana drop sharply in retirement
