Indodax market signal: There are several coins that show indications to be bullish this early October, which can be used as your reference, one of which is Ripple, let’s check them out.
5 Bullish Crypto Assets
The 5,300 and 5,100 resistance areas are crucial points for Ripple, because they will determine the direction of the next trend. On 19 September 2022 it became a strong momentum to confirm the bullish trend which strengthened in line with the trend direction. The price trend will try to break the resistance level at 7,600 if buying force still dominates.
Weakening in XRP will test Support levels at 6,400 – 6,800 XRP, prices will reverse if the candle is able to continue correction to 5,350 and below 4,900.
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Stellar Lumens (XLM)
The XLM trend is bullish which is illustrated by the MACD Indicator. Based on the 4-hour time frame, the price is in a positive phase. A candle that is able to break through the 1,935 level will be an indication of moving to the 2,000 level. A breakout from this level will strengthen the position of Stellar Lumens on the Uptrend Channel.
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XinFin Network (XDC)
It started with the breaking of the EMA/5 then followed by WMA/75 and WMA/85, which broke above the EMA/200 making XDC strengthen more than 15%. The forecast for the next trend direction when looking at the MACD indicator illustrates that the price is experiencing Sideways, but this assumption is conflicting with the Bollinger Bands Indicator which indicates that the price will move dynamically.
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Chiliz (CHZ)
CHZ weakened several times and tested the price at the EMA/200, but the price failed to break out of that level and pulled back instead, before continuing to strengthen in accordance with the direction of the trend, Bullish.
The Bullish phase will maintain its direction on a positive path if the price breaks through the 2,900 price and then weakens to penetrate the 2,500 price.
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Coti (COTI)
The reversal from previously Bearish to Bullish has been indicated since September 21, 2022, starting with the price that was able to penetrate the WMA/75 but stayed under the EMA/200 so that the direction of the next price movement will strengthen. According to signals from the MACD indicator, if the trend strengthens it will be more limited, but if the 1.720 price can be broken, it will indicate a strengthening.
The closest support level on COTI on the 4-hour time frame is at 1.570, then the next level is in the range of 1,500 – 1,550.
5 Bearish Crypto Assets
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Matic Network (MATIC)
The price position below WMA/75 and WMA/85 indicates that the trend is still in the downtrend channel, if the price is able to stay above the support level of 12,555 it indicates reversal of the trend direction. If a weakening occurs, it will try to move to the level of 10.400-10.615, a break of this support level will determine the movement of a new trend in the 1-day time frame.
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Alitas (ALT)
The use of a 4-hour chart illustrates that Alitas has experienced a deep weakening, the trend is unable to stay above support lines such as 6,500 and broke out the 5,790. The MACD indicator shows that the trend is in a positive zone, which is quite reasonable considering the price that has experienced a fairly deep correction.
Weakening in ALT will be able to reverse to positive direction if the trend is able to break the closest resistance level at 5,430 and stay above WMA/75.
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Ravencoin (RVN)
After touching the price at 1.095, the trend was unable to increase further because the RSI indicator was already in the overbought area, so the price weakened and this was a turning point for RVN to experience a deep correction of up to 40% causing the trend to break through the EMA/200 and be in the downtrend phase. The candle was seen several times trying to penetrate the EMA/200, but failed. Strong resistance lines at the 645 and 620 levels.
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HIVE (HIVE)
In the 4-hour time frame, HIVE has been in the bearish zone since September 19, 2022 when the candle was unable to stay above the support of 8,000. Price movements will fluctuate, this is in line with the indications of the Bollinger Bands where the two lines are far apart from each other.
The RSI indicator needs more time to confirm the direction of the next movement. If the candle is able to break through the 7,720 price level, it will open an opportunity to test the EMA/200.
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Tron (TRX) ??
Tron’s inability to form a complete candle above the EMA/200 followed by the failure to break out of the 1.060 – 1.070 level made the trend weakened further, which confirmed the inability of the candle to break out from the bearish phase. If the price is able to stay above WMA/75 and WMA/85 and try to test the EMA/200, it must first be able to break out several resistance levels such as 955 and 1,000.
If we look at supporting indicators such as MACD, which illustrates that the trend is on a positive path after breaking through the 920 level. On the contrary, a weakening will try to test 900, if it is broken then the next support level is at 890.
NOTE: If the 5 EMA crosses the WMA 75, 85 and 200 EMA lines and the lines intersect from the bottom up, then the market trend tends to go up (bullish), each table above shows that if the 5 EMA value is higher than the 75.85 WMA and 200 EMA, the market tends to go up (bullish).
If the RSI and MACD values ??show the same condition, it means that the market is showing the same trend. Overbought or oversold conditions are an indicator that the market is already at the point of changing direction of a trend.
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