Hello, wonderful Indodax traders! There is great news for all of us in this last week of May 2023. The crypto market is heating up with an exciting bullish trend.
Even more interesting, the crypto asset Wrapped NXM (WNXM) is soaring with extraordinary performance! So, let’s not be curious; look at the information below.
5 Bullish Crypto Assets
1. Wrapped NXM (WNXM) Coin
On the 1-day time frame used, after being in the Bullish candle zone, it could stay above the support level of 270,000 so that the dominance of Positive Momentum controlled the direction of the trend movement.
There is an indication of a fairly strong resistance zone in the 640,000 – 764,000 area range. If WNXM can break this zone, the bullish trend indication will be even stronger.
2. KAVA (Kava) Coin
Price movements on the KAVA (KAVA) coin are expected to be at a fairly high level of flexibility; the two lines available on the Bollinger Band indicator are far apart from each other with reinforcement which, if it occurs, will try to go to the 20,000 – 22,400 level area.
3. Ripple (XRP) Coin
A break of the Resistance level in the 6,750 – 6,900 area can confirm a change in the Ripple (XRP) coin trend from a Bearish trend to a Bullish one.
The current bullish trend will try to form a candle above the 7,090 – 7,335 level. If this level is passed, the potential to return to the 8,000 – 7,700 price range will be even greater.
4. Binance USD (BUSD) Tokens
The strengthening in the BUSD token is inseparable from the trend, which experienced a pullback after touching the price level range of 14,600, the lowest price for BUSD tokens since August 22, 2022.
The bullish phase on Binance USD will not be able to continue if the price weakens past the 14,870 – 14,860 level, then the potential to test the support level of 14,700 – 14,770 will be quite large.
5. Injective (INJ) Coins
Since being in the Bullish zone on February 15, 2023, the Injective (INJ) coin has strengthened by approximately 150%.
The price weakening is very likely to occur because the Injective (INJ) coin has strengthened quite high, the nearest support level is 80,000 – 85,000, but if this level is passed, then the next support is 46,000 – 57,000.
5 Bearish Crypto Assets
1. Energy (NRG) Coin
On the 1-Day chart used, it can be indicated if (NRG) coin continues to experience a significant weakening in price, this is inseparable from the trend of (NRG) coin, which has been in the Bearish phase since June 29, 2021.
The price weakness in Energy can be corrected if there is a high enough rebound where this strengthening must succeed to break the available resistance area in the range of 2,250 -2,700.
2. Origin Protocol (OGN) Coin
The support level closest to the OGN coin price is currently in the price range of 1,200 – 1,295. If this price range is broken, Origin Protocol will touch its lowest level since listing on INDODAX.
The current trend is positive after the MACD indicator crosses the upward line, assuming the price will increase to 1,680 – 2,000.
3. AIOZ Network (AIOZ) Coin
Even though the trend is in the positive area after being shown by the MACD indicator, it must be followed by a strengthening in the AIOZ Coin price bypassing the available Resistance levels, such as at prices 410 – 515, so that AIOZ Coin can confirm the direction of further movement.
4. Avalanche (AVAX) Coin
The Bearish AVAX coin trend is being held back by the Support level of 195,000 – 210,000. If Avalanche (AVAX) coin does not manage to stay above that level, if there is a weakening trend, there is an indication to test the price of 159,000 – 170,000.
5. TITAN (Titan Swap) Coin
When using the 4-hour chart, you can see that TITAN (Titan Swap) Coin continues to experience a very deep price decline after touching the Bearish zone on February 5, 2023, where TITAN (Titan Swap) Coin has weakened by up to 62%.
Looking at the MACD indicator, TITAN (Titan Swap) Coin is currently positive, but the negative momentum is still quite dominating. However, if the Resistance level in the range of 560 – 640 can be passed, the potential for strength will be wide open.
Note: If the EMA 5 crosses the WMA 75, 85, and EMA 200 lines and these lines intersect from the bottom up, then the market trend tends to be up (bullish); each table above shows if the EMA 5 value is higher than WMA 75, 85 and EMA 200, the market tends to rise (bullish).
Suppose the RSI and MACD values show the same condition. In that case, the market is showing the same trend. The condition is overbought (overbought) or oversold (oversold), which indicates that the market is at the point of changing the trend direction.
So that’s the latest news from Indodax Market Signal on May 29, 2023. Exciting opportunities await you in the crypto market, and as an experienced trader, you can earn big profits.
Don’t hesitate to take bold steps in facing challenges and pursuing opportunities in the crypto investment world. Stay informed and monitor the latest updates from Indodax to optimize your investment potential. Get ready to explore success in the digital currency world. We wish you successful trading and happy profits!
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