Hello Indodax members! How’s the weekend? You must be happy, because BTC is also green. Even in the early hours of last night, it almost broke to 700 million. If that’s the case, let’s just talk about 5 crypto assets with Bullish and Bearish signals for the next week!
5 Bullish Crypto Assets
Based on the 1D timeframe, the Bitcoin (BTC) chart from the end of September formed the three white soldiers, the price has moved up from 590 million to currently in the range of 680 million, if it is able to maintain the price at the current level BTC can move up to 695 million to 715 million. RSI rose towards 60 and MACD seems to have formed a golden cross pattern with a positive histogram. When it’s downtrend, the closest support for BTC is at the level of 670 million to 650 million.
Other than BTC, Cosmos (ATOM) managed to maintain its resistance level above 480K from Sept. 29, which suggests that sentiment remains positive and buyers are buying on the downside.
Since the end of last September, ATOM started an uptrend to the upper limit in the range of 580K with a thin candle wick. If the bulls continue to increase, ATOM will reach its old resistance at the levels of 610K and 630K.
Conversely, if the price slips below the moving average, the next drop could become a support line. can go down to 479k and then to 440k.
After BTC and ATOM, Tezos (XTZ) rebounded from WMA 85 on Sept. 29 at 79K and momentum picked up after rising to 85K on Sept. 30.
XTZ continued its positive rally that pushed the price up to the upper limit of 129K, and is currently moving in the 119K price range. The RSI still has the potential to rise and is close to approaching overbought territory, indicating that buying is in control.
If the price stays above 105K, it will start a new uptrend. On the other hand, if the price corrects, the XTZ/USDT pair can then drop to the middle bands in the range of 90 thousand. Then the price may rebound to above 100 thousand.
OMG is eyeing its new ATH record after launching its ‘Boba Network’ layer-2 solution. Since hitting a low of around 47K on July 20, OMG price has risen 390% to 188K.
OMG Network benefits from the sector’s transition to layer-1 and layer-2 alternatives. A non-custodial layer-two protocol that uses an optimistic rollup scaling solution to improve Ethereum’s scalability.
Prior to the market-wide correction that began in early May, OMG had been performing well thanks in large part to its listing on Coinbase. A major development for the protocol came in early June when the project changed its name from OmiseGO to OMG Foundation as part of its axis towards layer two solutions.
Lastly, there is COTI present on the Bullish crypto asset list. The Coti price rose to a new high of 9500 after a series of partnerships, exchange listings and a pivot to NFT lured new investors to the project. The price is currently corrected to the level of 7600, the closest support is in the range of 7000 – 6600.
The blockchain ecosystem has grown significantly as the capabilities of “smart contracts” have moved the industry from a simple medium of exchange to an ecosystem full of decentralized finance (DeFi) and non-exchangeable tokens (NFT).
One of the projects that has benefited from the upgrading of blockchain technology and the recent launch of smart contracts on Cardano is Coti, an enterprise-grade fintech platform focused on helping organizations create their own payment solutions and digitize all forms of currency as a way to facilitate decentralized payments. .
Coti recently announced that its platform will become the official issuer of the Djed stablecoin on the Cardano network, and prices are steadily moving up on the news.
5 Bearish Crypto Assets
Huge impact of BTC, The first crypto asset to experience bearishness was COMP. The decline in Compound, one of DeFi’s main financial markets, is on the rise, with nearly $150 million worth of COMP now at risk due to a somewhat problematic upgrade launched last week.
COMP is still moving below the EMA200 support area at 4.4 million, and if the correction continues, the price may fall to 3.5 million – 3 million. If COMP is able to show good performance next week, the immediate resistance area is in the range of 5.5 million to 6.4 million.
On September 30, Cointelegraph reported that a bug had resulted in COMP tokens worth between $70 million and $85 million being mistakenly offered to users as rewards after an update meant to fix bugs and a “split COMP reward distribution” went awry.
Although reward distribution errors were identified quickly, Compound’s week-long delay to enact new governance measures means that the errors won’t be fixed until October 7.
The second, is back on the list of bearish crypto assets, namely SUSHI. SushiSwap is the world’s leading cryptocurrency swapping platform. Its main audience is DeFi traders and related entities looking to take advantage of rising prices and create liquidity.
SUSHI is currently still moving in the 200 EMA area with a price of 147 thousand, the closest support is at 130 thousand and 135 thousand, if SUSHI manages to breakout the WMA 85 at 165 thousand, the price will try to reach the next resistance in the range of 180 thousand – 195 thousand.
According to CMC, SushiSwap is down 3.19% in the last 24 hours. Its current CoinMarketCap rating is #80 and has an outstanding supply of 127,244,443 SUSHI and max. supply 250,000,000 SUSHI.
IOST is a fully fledged and decentralized “ultra-fast” blockchain network and ecosystem with nodes, its own wallet and based on a “next generation” consensus protocol dubbed “Proof of Work”
The project was launched in January 2018 by Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Sa Wang and Kevin Tan.
According to CMC, IOST is down 3.05% in the last 24 hours. Its current CoinMarketCap rating is #98 and has an outstanding supply of 18,099,719,631 IOST and max. supply 90,000,000,000 IOST.
The price had touched its highest level in the 1200’s, then is currently corrected to the 750’s. If the seller still dominates the price, IOST can still go down to 650s.
UMA, or Universal Market Access is a protocol for the creation of synthetic assets based on the Ethereum (ETH) blockchain. UMA was launched in December 2018.
Synthetic assets are asset classes that represent different underlying assets and have the same value. UMA specifically allows its users to design and create self-executed and self-enforced financial contracts secured by economic incentives and execute them on the Ethereum blockchain.
In essence, UMA allows counterparties to digitize and automate any real-world financial derivative, such as futures contracts, contracts for difference (CFDs) or total return swaps. It also allows the creation of self-fulfilling derivative contracts based on digital assets, such as other crypto assets.
According to CMC, UMA is down 2.67% in the last 24 hours. Its current CoinMarketCap rating is #118 and has an outstanding supply of 62,956,331 UMA and max. supply 101,172,570 UMA.
Lastly is YFI, one of the crypto assets whose prices are also fantastic. Yearn.finance is an aggregator service for decentralized finance investors (DeFi), using automation to enable them to maximize profits from yield farming.
The goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committed way than serious traders.
Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debut and developers release in-house YFI tokens.
But it seems that recently not too much has been developed or new innovations from the team, making the price saturated and not too massive for activities.
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),
in each table above shows if, the value of EMA 5 is higher than WMA 75.85 and EMA 200 then the market tends to go up (bullish). If the RSI and MACD values ??show the same condition, it means the market is showing the same trend, overbought (overbought) or oversold (oversold) conditions are an indicator that the market is already at the point of changing the direction of the trend.
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