Indodax market signal presents Compound (COMP) at the top list of the bullish crypto assets this week! Read more below.
5 Bullish Crypto Assets
COMP was in Bullish phase and weakened further to break out the 863,000 level made COMP entered the Bearish phase, but the weakening failed to penetrate the support level of 659,000 – 660,000 making the Compound rebounded quite high to break through and stayed above the EMA/200, which the 4-hour chart indicated that COMP reversed direction to bullish. The Bullish trend will be confirmed further if the candle can break through the 882,000 level and test the resistance level of 1,000,000, which will open an opportunity to go to a fairly strong price level in the 1,400,000 – 1,500,000 range.
ATOM was in the Bullish zone since July 10, 2022, when the price increased quite high. ATOM has strengthened to around 90% ever since. The price increase was also supported by a fairly massive buying rate. The price move quite volatile which can be seen on the 4-hour chart, this is in line with the Bollinger Bands indicator, whose two lines are far apart and widening.
The MACD indicator illustrates that the trend is in a positive zone, the resistance level is at 255,000 – 265,000.
ABBC Coin (ABBC)
ABBC moved mostly in the bearish sideways direction with a tendency to weaken in the 740 – 1,400 range on August 12, 2022. The candle broke out from the resistance level and sideways phase which ensured ABBC Coin entered a new trend, the uptrend. The uptrend will fail to continue if the candle breaks the 2,200 and 1,500 levels.
The price had touched 4,580 but the price could not strengthen further because the RSI indicator indicated that the trend was already in the overbought area so the price weakened instead, in line with the MACD indicator which showed similar conditions.
The candle was able to stay above the 110,000 level followed by WMA/75 and WMA/85 so Chainlink strengthened further in accordance with the current Bullish trend. The MACD indicator indicates that it is in a positive area, LINK is moving quite positively with a price range of 116,000 – 120,000, if it weakens there is a support level at 109,000, on the other hand a strengthening will test the 121,500 level.
Binance USD (BUSD)
The price started to increase after breaking out from the sideways zone at 14,340 – 14,425, the price increased to the level of 14,800. It weakened to penetrate WMA/75, WMA/85 at 14,470 and 14,700 and then rebounded and strengthened further.
On the 1-day time frame, it shows that the Bollinger Bands indicator is narrowing, where price movement is limited to the range of 14.850 – 14.995. This range can be used as support and resistance levels.
5 Bearish Crypto Assets
The break of the support level at 123,000 – 125,000 made HNT confirmed to be in a Bearish phase. The weakening continued from the level of 72,000 to the level of 55,000 on September 14, 2022. Support for HNT is in the range of 59,000 if this price is broken, next support is at 50,000. On the contrary, the price will have a chance to strengthen if it passes the level of 83,000.
1X Short Ethereum Token (ETHHEDGE)
The price of ETHHEDGE continues to decline, since July 19, 2022, the weakening penetrated the WMA/75, WMA/85 and the strong support level at 330,000. The decline was inseparable from the strengthening of the ETH coin.
The closest support level is at 245,000, if this level is broken next will be at 222,000. Meanwhile, the bearish phase will be impaired if 1X Short Ethereum Token is able to create a candle above the 290,000 level.
The Sumokoin candle on the 4-hour chart, formed a bearish trend, although it had tried several times and managed to pass the EMA/200 but it weakened further because no candle was formed. SUMO must stay above WMA/85 if it wants to reverse direction from bearish trend.
In the bearish trend, the MACD indicator shows a positive signal which is quite reasonable given that SUMO has dived deeply.
Basic Attention Token (BAT)
On the 1-day chart it can be seen that the BAT has been in the downtrend zone since February 21, 2022, when WMA/75 and WMA/85 cut below the EMA/200. It weakened further to 60%, BAT had increased and penetrated the EMA/200 but could not last because its candle could not penetrate 14,000.
The further correction allows the price to test the 4,340, the next level will be at 3,900 – 4,000.
The weakening experienced by Polkadot since entering the downtrend zone on August 23, 2022 has been around 14%, the current trend is greatly helped by the support level in the price range of 100,000 – 98,000. If this support range is broken it will form a new trend direction in the bearish phase with support level at 93,500.
If DOT strengthens, it will try to penetrate the 108,000 price, a break of this level will make it stay above WMA/75 and WMA/85.
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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