Crypto Sweet Sixteen Study Shows Third Consecutive Decline in SSTTR

The Market's Compass Crypto Sweet Sixteen Study tracks the technical condition of sixteen large-cap cryptocurrencies. The latest study, #252, shows a decline in the Sweet Sixteen Total Technical Ranking (SSTTR) for the third week in a row, down -3.07% to 286.5 from 297.5 at the end of the previous week.

Eight of the sixteen cryptocurrencies gained ground last week, while eight fell. Ten were in the 'blue zone' (TRs between 15.5 and 34.5), and six finished in the 'red zone' (TRs between 0 and 15). The average TR loss was -0.60%.

Cardano's (ADA) 13-Week Technical Ranking SMA continues to rise from its mid-June low, while the balance of the Sweet Sixteen 13-Week TR Moving Averages either fell or flatlined at the end of last week.

The Relative Rotation Graph shows Cardano and Solana making a four-quadrant move over the past two weeks. Ethereum registered the highest Relative Strength Ratio of the Sweet Sixteen at the end of the week, but ChainLink's Relative Strength Momentum turned lower in the Improving Quadrant.

The Daily Momentum Technical Condition Factor (DMTCF) fell for the fourth week in a row to 48.21%, and four of the Technical Condition Factors registered declines on a week-over-week basis.