Axsome Therapeutics - Development Pipeline

Knowing a companies pipeline of drug candidates, might give us a view of future products of commercialization, should everything work out favorable in clinical trials. With the 4th quarter of 2023 almost completed, a check on the pipeline of Axsome Therapeutics heading into 2024, is below.

                                                                

The important readout will the AXS-05 phase 3, Alzheimer's Agitation clinical trial, to be completed in the first half of 2024. Another notable readout, will be the Solriamfetol phase 3 for Attention Deficit Hyperactivity Disorder (ADHD), scheduled in the second half of 2024. Thank you for reading.

Ethereum Chart Update

Ethereum, the second largest cryptocurrency behind Bitcoin, is having a solid year to the upside, thus far, up around 65%. The weekly chart looks bullish on an intermediate basis, (weeks to months) with higher lows occurring, prior to the previous low. The current move higher has been strong, but met with an older resistance point, around the 2120 level, where ETH pulled back from there back in May.  A breakout above that 2120 resistance level, could take it higher 18% to my target point of 2500, per weekly chart below. Thank you for reading. 

2023 Asset Performance - 3rd Quarter

With the 3rd quarter of 2023 just completed, a quick check on the performance of what different assets, have returned to date. What's notable is the sharp fall of bonds going negative, as interest rates have surged. Interest rates and the price of bonds have a negative correlation.  Cryptocurrency, including bitcoin and ethereum, along with stocks are still in the green end of third quarter. Chart below, thank you for reading.

  

Ethereum - Price Movement

Ethereum is a volatile cryptocurrency asset. Just like other assets have their correlations, or non-correlations for price movement, the same goes with Ethereum. The ten year treasury yield has been spiking along with interest rate increase. Ethereum has a high non-correlation, with the ten year bond yield, symbol $TNX. Because higher interest rates, mean higher borrowing costs, people could potentially start spending less, investing and speculating less. The chart below shows this non-correlation, in other words, as interest rates rise on the ten year yield, ETH goes down in price. A -1.00 is a perfect non-correlation and a 1.00 is perfect correlation. Currently the correlation is a -68. Chart below, has ETH in white and the ten year in red. Thank you for reading.

2023 Asset Class Performance - 2nd Quarter

With the 2nd quarter of 2023 just completed, a quick check on the performance of different assets, have returned to date. Cryptocurrency, including bitcoin and ethereum, along with stocks put in a strong first half performance, chart below. All five assets tracked were in positive territory. Click on chart for larger image. Thanks for reading.

 

2023 Asset Class Performance - 1st Quarter

An eventful first quarter of 2023 just completed. It was all about Alternative Investments that led the way. Cryptocurrency, including bitcoin and ethereum, along with gold put in a strong first quarter performance, chart below.  

We'll continue to track the asset classes above throughout the year. Thanks for reading.

Ethereum -Technical Analysis

Ethereum the second largest cryptocurrency behind Bitcoin, has shown a nice return in 2023, higher by around +28%. But, as asset prices rise, pullbacks become inevitable, and healthy for further gains ahead. Fibonacci retracement is a common way of understanding the extent to which an asset is retracing the most recent high or recent low. Below is a daily chart of Ethereum, with Fibonacci. Typically I would expect a healthy pullback to the 50% retracement level, which would put ETH at the 1431. Also possible, is the present pullback, at the 38.2% level could hold as support before the next move higher. Daily chart below.    

It will be interesting to see where Ethereum trades from here. If the 38.2 % pullback holds or retraces lower to the 50% fibonacci level around 1431. Thank you for reading.

2023 - Asset Class Performance

A quick look at a two week chart of returns for some of the major asset classes; stocks, bonds, gold, ethereum, and bitcoin. Easy to see in the chart below, all five of those asset classes have appreciated quite substantially in the first two weeks of 2023.

     

Are the markets factoring in tame inflation (CPI readings) moving forward, and the federal reserve halting or reversing interest rates over the next few months?  That seemed to spark the rally in assets, after the latest CPI reading. That assumption may be early, and why monitoring the monthly inflation data, will be important. Thank you for reading.

Ethereum Price Target Reached

Ethereum (ETH) reached it's price target of 3900, then sold off hard. What do the charts suggest now? Corrections occur and are healthy for stocks or indexes. ETH has more than doubled in price in a very short period of time, from a low of around 1,700 to a high of 4,000, which is quite extreme. From the chart below, the previous consolidation area which runs from 2900 to 3400 should act as support for the recent pull-back. If that support is broken to the downside, then I would view that as negative sign, as Ethereum will have to find support at a lower price. Bottom line, the chart is still bullish, but expect some time to pass at this consolidation area, before another move higher. Thank you for reading.

    

   

Ethereum Price Target

The London upgrade on August 4th went smooth, and will make fees more predictable, reduce delays in processing, and decrease the amount of new coins issued.  The EIP-1559 process is explained here at Cointelegraph. Ethereum is running higher after the event, with new resistance seen at 3900. Between the current price of 3290 and 3900, there are few resistance points, based on time or volume. I see the 3900 area, where the next resistance can come into play. Chart below. Thank you for reading.

     

Ethereum Cryptocurrency

The second biggest Cryptocurrency, Ethereum , is about to get an upgrade that will be taking place on August 4th.  The London upgrade will make fees more predictable, reduce delays in processing, and decrease the amount of new coins issued.  The EIP-1559 process is explained here at Cointelegraph. Ethereum is running higher ahead of the event, with resistance at 2800 per chart below, will provide a good test at that level.

      

Ethereum

Plenty of talk regarding the recent sell-off in Cryptocurrency. From a another post here Cryptocurrency - Bitcoin we discussed breakout levels for Bitcoin, today we are going to talk about year to date gains in Ethereum versus Bitcoin. Regardless whether you believe that Cryptocurrencies will survive in the future for commerce, or as an inflation decentralized alternative to fiat money, there is a large market for trading the asset. On May 20th, for the year Ethereum has been a stellar performer. When thinking what is Ethereum; a blockchain that can be used for sending and receiving value globally, and without third party watching or stepping in unexpectedly. Chart below with year-to-date performance. Thank you for reading.