It’s early July, Indodax-ers! At the beginning of this month, there were several coins that could be recommended and help the portfolio “go green”. Let’s find out more!
5 Bullish Crypto Assets
- Quant (QNT)
The use of the 4-hour time frame illustrated that Quant (QNT) was able to break out the 900,000 price level so that it was able to confirm an uptrend phase. Prior to the break out, QNT tested the 740,000 price level but could not penetrate and rebounded instead.
The RSI indicator signaled that when it touched the Overbought area, which causes the price to experience a correction, the weakening will test the support level at 990,000 and the next level is at 939,000.
The Bollinger Bands indicator is in line with the current trend, where price movements will be more volatile.
- dYdX (DYDX)
The MACD indicator illustrated that the trend was in a positive area and histogram so that the chances of strengthening were quite high according to this indicator. The increase would test the 35,000 price, because its movement always stopped when it reached this level. A break of this level will test the next price at the 45,000 – 47,000 price range.
The Bullish trend will be broken if the price hits below the EMA/200 line at the price of 24,850 and a further weakening will test the next support level of 22,400.
- aelf (ELF)
When viewed from the 4-hour chart, it could be seen that there were quite a few long wicks on the candle which indicated that buying pressure was way beyond the selling side and could be used as a momentum to estimate the direction of the future trend. It was confirmed to be in a bullish phase on July 04, 2022, after being able to break out from the 2,500 price level. It had even touched 5,000 price level but could not continue strengthening further because the RSI indicator showed that the price was already in the Overbought phase and was experiencing a correction.
A weakening will test the nearest support level at the price range of 2,700 – 2,600, meanwhile a strengthening will aim for the resistance level of 3,530.
- Origin Protocol (OGN)
The increase in the Origin Protocol (OGN) which led to the Bullish phase occurred on July 04, 2022, it weakened after penetrating the EMA/200 line but it could not penetrate the 3,600 and the 3,520 price level so the Bullish phase continued further. If it weakens, the price will test the EMA/200 line at 4.060. A break from this level will open the opportunity to test the price at 3.590.
- Uniswap (UNI)
The 4-hour chart showed the current trend was in the Overbought area. When using the RSI indicator the direction of its movement would wait for confirmation from the candle that would be formed later. If it weakens, it will try to test the price level of 87.300.
The MACD indicator signaled that the current trend direction is in a positive area and histogram. The strengthening of price will test the nearest level in the range of 98,000 – 102,000.
5 Bearish Crypto Assets
- Telcoin (TEL)
The Bearish phase occurred on April 14, 2022, when previously the RSI indicator showed that the price was in the Overbought area which was a reversal for price weakening in Telcoin (TEL). The support level is at the price range of 20, a break of this level be an opportunity for the formation of a direction.
MACD indicator, within 4 hours indicated that there was a narrowing, which means the price was moving less volatile and more limited. The price will move in the 24-21 price range.
- JUST (JST)
The bearish phase was confirmed after JST broke below the EMA/200 price at 900, the weakening continued until it penetrated the 780 price level. The price is currently experiencing an uptrend because the indicators showed that it was moving away from the oversold area.
The support level is in the 360 – 370 price range, while a strengthening will test the 525. A break from this will be determined by the buying level, the next resistance is at 570.
- XinFin Network (XDC)
An increase in the price trend was taking place after experiencing a deep correction. The MACD indicator was in a positive direction after it moved away from the Oversold area. The direction of the trend will test the 425 – 440 price, If a breakout occurred at this level, it will test the 500 price, and will also try to break the WMA/75 and the WMA/85 line.
- Energi (NRG)
The weakening of NRG began when it touched the Overbought area on the RSI indicator. On June 10, 2022 NRG entered a Bearish Phase. It tried to penetrate the EMA/200 several times, but to no avail. Besides, there was quite a strong support level at 10.370 price.
It would need to hit the price of 8,230 first, before testing the price range of 9,000 – 9,250.
- Enjin Coin (ENJ)
The use of the 1-Day time frame showed that Enjin Coin (ENJ) had weakened since February 16, 2022. It had tried to breakout the EMA/ 200 line several times and hit the resistance level of 31.130, but the price bounced down and weakened further until it hit and broke a strong support level at 18,500.
The MACD indicator is in a positive direction, the strengthening would test the 11,000 price, if this level is broken it will try to test a stronger resistance at the 15,500 price range.
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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