Week 43 Crypto Assessment

Here is the trending heat map for the crypto sector:

Interesting to see that both Bitcoin and Ethereum are trending short-term bullish. Both their price is also above the 50-day moving average. Polygon is trending perfectly bullish. Axie Infinity and Helium are trending perfectly bearish. Dogecoin has had a 2-day burst to the upside due to the Elon effect.

Here is the performance of the above tokens.

Ethereum, Polygon, Maker and Dogecoin are outperforming the rest of the cryptocurrencies. I would say that Dogecoin is up for nebulous reasons, and I will most certainly stay away from it. Maker and Polygon look interesting to jump on for short-term trades. I hold Ethereum for the long-term. And Bitcoin may have become the most risk mitigated play.

I also like to see the relative performance of Ethereum against Bitcoin.

Over 1-month Ethereum has outperformed Bitcoin by +8.8% and

Over 3-months Ethereum has outperformed Bitcoin by +3.5%.

Both looking good for the short-term.