Hi Indodax friends! We will talk about 5 crypto assets that show bullish and bearish trends. Ethereum Classic and Bitcoin Gold are among crypto assets with bullish signs. Despite having similar first names, these two crypto assets are different from Ethereum and Bitcoin! Let’s find out more!
5 Bullish Crypto Assets
Ethereum Classic (ETC)
Ethereum Classic (ETC) shows bullish momentum after breaking the EMA/200 price on March 19 at Rp 422 thousands, and currently, the price is at the range of Rp 530 thousand. Strong buying has pushed the price closer to the resistance at Rp 550 thousand. If the price drops from the current level, the ETC/IDR pair could drop to between Rp 450 thousand and Rp 490 thousand. Support price for the middle band is at MA/25 area (446,328). Currently, the Relative Strength Index (RSI) is in the overbought zone, benefiting the buyers, but the price could still be corrected due to overbought.
If the price manages to surpass the resistance level at Rp 550 thousand, the price will likely rally to between Rp 570 thousand and Rp 610 thousand.
The bullish momentum might weaken if sellers are able to hold the price and reduce it to the middle band at Rp 446 thousand area. The support level will return to the previous price at between Rp 400 thousand and Rp 425 thousand.
The MACD indicator on the 4-hour chart shows that the candle is strengthening, marked by the MACD line confirmed to go upwards with a positive histogram.
Bitcoin Gold (BTG)
Bitcoin Gold was founded in 2017 to be a user-friendly alternative to Bitcoin. The BTG network aims to combine security and steadiness of Bitcoin’s blockchain and its characteristics with opportunities for experimentation and development.
Bitcoin Gold (BTG) improves and expands crypto space with a highly compatible blockchain, but without resorting to resources like Bitcoin hashrate or competing for the title of “The Real Bitcoin”. They aim to present a coin with Bitcoin implementation capabilities, but at the same time expanding the opportunities for DeFi and DApp developers to use the coin.
The price of BTG has also increased, the price rose on March 19 from Rp 447 thousand, it was confirmed that it rose with a thin axis to Rp 599 thousand. Then the price underwent a slight correction and is currently at the level of Rp 550 thousand.
This positive trend can continue if the price is able to break out to the level of Rp 580 thousand – 600 thousand. The closest horizontal support is at the level of Rp 491 thousand, if the price cannot bounce from that level, the correction can be deeper to the level of Rp 450 thousand.
RSI Indicator shows that the price is overbought, a correction may occur, MACD shows strengthening trend, with positive histogram.
TEL is a Telcoin utility token, blockchain protocol designed to facilitate globally affordable mobile-based remittances. Telcoin is built on top of Ethereum Blockchain. At the time this article was written, the price of TEL in Indodax market up 23% from Rp 77 to the all time high price of Rp 109.
CoinMarketCap’s current rating is #142, with an immediate market cap of $398,468,174 USD and has an outstanding supply of 59,323,582,611 TEL and max. supply 100,000,000,000,000 TEL.
Elrond (EGLD) broke the EMA/200 line at the price Rp 2,2 million on March 15, It shows that buyers are trying to dominate the price again.
Currently the price moves at the range of between Rp 2,290,000 and Rp 2,340,000, EGLD/IDR pair can extend its increase to the psychological level at Rp 2,500,000. Sellers are encouraged to put up a strong defense at this level.
This positive outlook will be invalidated if the price drops and falls below the 200-day Exponential Moving Average (EMA). Such move will show that the bullish momentum and positive rally will stall and the price could drop to below the EMA/200 line (Rp 2,209,846). This pair could drop further to Rp 2,151,818.
RSI and MACD indicators are showing that the candlestick patterns are moving sideways right now.
Recently, the Web3 Subspace Labs infrastruktur developers have just finished the first round of funding of USD 32,9 million to advance the ongoing growth initiatives, including integrating the main blockchain network Ethereum, Polkadot and Kusama.
Often dubbed as “cousin of Polkadot,” Kusama is a blockchain experimental platform which was designed to provide a massive and scalable interoperable framework for developers. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.
5 Bearish Crypto Assets
Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) device. Launched in Juli 2019, mainnet Helium allows low-power wireless devices to communicate with each other and send data across its network of nodes. CoinMarketCap’s current rating is #49, dengan with an immediate market cap of US$2,458.405.115 and has and outstanding supply of 113.642.932 HNT and max. Supply of 223.000.000 HNT.
Augur vs (REPV2)
It was initially built on top of Ethereum, Augur is a decentralized prediction market. Currently, Indodax is selling the second version, hence the V2 in its token name.
Global Social Chain (GSC)
Global Social Chain (GSC) is a cryptocurrency operating in the Ethereum Platform. It has 1.000.000.000 of supply.
HedgeTrade aims to be a platform where traders share information. Traders post their predictions into Smart Contract powered Blueprint that users can purchase or open for access. Traders will be rewarded if their Blueprint turns out to be correct, otherwise the users’ purchases will be refunded. HedgeTrade aims to revolutionize social trading using blockchain technology.
Dvision Network (DVI)
Dvision Network is essentially a blockchain-based VR content ecosystem, which is also driving the NFT market in virtual reality. Dvision Network presents a new virtual reality world, where the users can live life at the center of the fourth ICT-based industrial revolution.
Dvision has 3 important platform pillars, which can be briefly described as NFT market (VR-Market), where the users can create and trade unique items; Customized Virtual Reality (VR-Space), where users can customize and acquire virtual space; Collecting VR-Spaces (VR-City), this is a public VR world, where users can enjoy the metaverse with other users.
NOTE: If the EMA 5, passed the WMA 75, 85, and EMA 200 lines and the lines intersect from the bottom up, it means the market trend is likely to go up (bullish),
Each table above shows that if the EMA 5 value is higher than WMA 75,85 and EMA 200 it means the market tends to go up (bullish). If the RSI and MACD show similar conditions, it means that the market is showing the same trend, overbought or oversold, which are indicators that the market is at the point of changing direction of a trend.
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