Market Signal this week presents ABBC Coin (ABBC) and Kyber Network Crystal v2 (KNC) in the Bullish crypto asset range, so what crypto assets are predicted to be bearish? Check out the following article!

5 Bullish Crypto Assets

• ABBC Coin (ABBC)    

The use of a 4-hour chart showed that ABBC Coin was previously in sideways phase but the price started to soar when it was able to break out the 900 level and stayed above the EMA/200. This made ABBC Coin confirmed to enter the Bullish phase.

The bullish phase will continue if the price is unable to break out from the support level and form a complete candle below the range of 1,400 – 1,600.

The Bollinger Bands indicator signaled that the volatility of the price trend will move faster. The nearest resistance level is in the range of 4,300 – 5,000.

• Kyber Network Crystal v2 (KNC)    

The increase started on July 28, 2022, when the strong resistance level at 22,000 was broken which impacted the formation of a candle, hence the price strengthen further.

In the 4-hour chart the price is still above the EMA/200 at the level of 23,690. The trend is still on the uptrend channel, so buying still dominates its movement. Support levels are indicated at the price of 25,500 – 25,800

The bullish trend will be able to continue its positive movement if the candle is able to breakout and penetrate the resistance level in the price range of 27,900 – 28,000.

• EOS (EOS) 

It experienced a weakening to the level of 17,300, then the candle was unable to penetrate the support level so it bounced up through the price level of 18,400. On August 17, 2022, the price touched the level of 24,700, but weakened immediately, because the RSI indicator indicated that the trend was already in the overbought area. 

The current bullish trend will try to test the price level of 21,865 – 27,220, if this level is broken then it will move towards 23,300.

• Chiliz (CHZ)

The bullish phase of CHZ was confirmed when the price broke the EMA/200 at the 1,600 level, the strengthening continued from the 1,655 level towards the 1,820 level. It strengthened further and tried to break the 2,500 level, if it breaks the support level of 2,300 it would put an end to the uptrend phase.

The strengthening that occurs will try to stay above the WMA/75 and WMA/85 lines, after staying at that level, the next movement will try to break the 3,000-3,200 price level.

• Binance USD (BUSD)

Binance USD briefly weakened to the level of breaking the EMA/200 on the 1-day time frame, but it was not confirmed because there were no candles formed below the EMA/200. The trend then experienced a pullback through WMA/75 and WMA/85. Immediate resistance is at 15,000 – 15,050.

On the contrary, a weakening will try to break through the WMA/75, WMA/85 and 14,800 – 14,880 price levels.

5 Bearish Crypto Assets

• Orchid (OXT) 

On May 31, 2022, OXT had broken through the EMA/200, but only formed a wick at the end of the candle that can be seen on the 1-day chart, it had no impact on the direction of the next trend, instead it breakout the support level at 1.785 moving toward the 1,200 level.

The 1,200 support level is quite strong, as previously its movement touched this level several times but Orchid experienced a price bounce. The MACD indicator illustrates that the trend is in a negative direction, but currently its movement is more limited to the 1,450 – 2,000 price range.

• dYdX (DYDX) 

??After touching the oversold level on the RSI Indicator, the dYdX trend is going down to touch the level of 23,345. If it weakens further, it will test the nearest support level at around 23,000. A break of this level, it will move towards the price of 19,000.

The downtrend channel will be corrected if DYDX trend is able to stay above WMA/75 and WMA/85, then the price will try to test the quite strong resistance level at 28,170 – 28,200.

• Maker (MKR) 

The downtrend phase was confirmed after the price broke through the EMA/200 and the support level at the price of 15,000,000. This weakening continued until it broke through the 14,200,000 and the 12,800,000 level. Strengthening can occur for the next trend movement, as seen from the MACD indicator, which has cut upwards and Maker has experienced a decline of around 20% since entering the bearish phase on August 19, 2022.

• Storj (STORJ)

The decline in Storj occurred after the candle was unable to stay above 9,780 so the bearish trend could not be avoided. The RSI indicator shows that the price is currently in the overbought area, the next decline will test the price of 6.900, a break of this price will try to test the support level at 4.925

The MACD indicator shows that the current trend is in a negative direction. Strengthening will try to test the 9,500 level, if it is able to stay above this level, the chance to penetrate WMA/85 will be even greater.

• WEMIX (WEMIX) ??

It was in the sideways phase with price movements in the range of 39,000 – 42,000 on August 18 before entering the bearish zone. The support level in the sideways phase was broken, the price corrected to touch the 33,700 level. The 33,700 level becomes the support line, if it is broken, the next support line will be at the 31,000 level.

If it strengthens, it will test a resistance level at the 35,000 level and the next resistance level is in the 37,100 – 38,500 price range, but the candle must be formed above that level to confirm the broken price level.

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.

 

ATTENTION: All contents which includes text, analysis, predictions, images in the form of graphics and charts, as well as news published on this website, is only used as trading information, and is not a recommendation or suggestion to take action in transacting either buying or selling. certain crypto assets. All crypto asset trading decisions are independent decisions by the users. Therefore, all risks arising from it, both profit and loss, are not the responsibility of Indodax.