Livepeer (LPT) led the bullish crypto asset trend this week, followed by Tron (TRX) to Wrapped Bitcoin (WBTC).
Here is this week’s INDODAX Market Signal update:
5 Bullish Crypto Assets
1. Livepeer (LPT)
Since being in a bullish trend on November 11, 2023, Livepeer (LPT) movement has shown positive price changes after successfully ending the sideways phase with a positive move and staying above the 120,000 level. Strengthening will be wide open if the trend is still moving above the WMA/85, with estimates that the price will try to test the 400,000 level.
2. Tron (TRX)
The failure to break the 2,100-2,300 level weakened Tron (TRX) and the price was held by the dominant support in the 1,700-1,800 area. If this support is broken, negative pressure will dominate enough for Tron (TRX).
3. Unus Sed Leo (LEO)
The price is held by the WMA/85, and the Bollinger Bands indicator indicates that Unus Sed Leo (LEO) is currently in a bullish sideways phase, with prices moving in the 85,000-100,000 area. If Unus Sed Leo (LEO) can break positively, Unus Sed Leo (LEO) can move towards the 110,000 range.
4. Render Token (RNDR)
On the 4-hour timeframe, Render Token (RNDR) is still indicated to be in the bullish zone. The opportunity to continue strengthening is quite wide open with the breakout of the 180,000-215,000 area, which can be one of the determining factors.
5. Wrapped Bitcoin (WBTC)
Looking at the overall trend movement on the 1-Day chart time, it can be seen that on May 1, 2024, there was a sudden decrease in the price of Wrapped Bitcoin (WBTC). However, the price increased again following the current trend. The price changes on Wrapped Bitcoin (WBTC) will be quite high; several times, the line of the Bollinger Bands indicator can be crossed. If the price can move in harmony above the WMA/75, then Wrapped Bitcoin (WBTC) will have a chance to go towards the 1,200,000,000 level.
5 Bearish Crypto Assets
1. Shill Token (SHILL)
Shill Token (SHILL) has been in a bearish phase since April 28, 2024, negatively impacting the price of Shill Token (SHILL), which has weakened by more than 20%. Currently, the trend is still on a bearish sideways, with the trend moving in the price range of 94-135. If the price weakens, the next support is at 70-85.
2. DeFi (DEFI)
DeFi (DEFI) continues to show weakness. Since it was first traded on INDODAX on March 14, 2024, DeFi (DEFI) has been in a bearish zone where DeFi (DEFI) has weakened by more than 50%. The trend is still under negative pressure and has not managed to move from the WMA/85 to be one of the causes.
3. OctoFi (OCTO)
The 1-Day Chart illustrates that the price of OctoFi (OCTO) is currently limited. This aligns with the Bollinger Bands indicator, which estimates that if the two lines are close together, the price moves in the range of 4,500-5,600, and the bearish trend will deepen if the support is broken.
4. Elrond (EGLD)
Unable to stay above the 740,000-855,000 area, Elrond (EGLD) was confirmed to be in the bearish zone. The trend will be corrected if Elrond (EGLD) can stay above the 560,000 level range, followed by the price moving from the WMA/85.
5. Krypton DAO (KRD)
The current trend of Krypton DAO (KRD), as depicted by the MACD indicator, is sideways with limited price changes. However, the price is currently moving below the WMA/75, creating negative pressure. A candle forming above the 15,000-16,000 area will make Krypton DAO (KRD) move above the EMA/200.
NOTES:
If EMA 5 crosses the WMA 75, 85, and EMA 200 lines, and these lines intersect from bottom to top, then the market trend tends to be upward (bullish).
Each table above shows that when the value of EMA 5 is higher than WMA 75,85 and EMA 200, the market tends to rise (bullish).
If the RSI and MACD values show the same condition, the market is showing the same trend; an overbought (overbought) or oversold (oversold) condition indicates that the market is at the point of changing trend direction.