Hello INDODAX members! Entering the beginning of April 2023, Bitcoin is in the first position of the bullish crypto asset! Let’s take a look at the INDODAX market signal to find out which crypto assets are indicated to be bullish and bearish this week.
5 Bullish Crypto Assets
1. Bitcoins (BTC)
The one-day chart shows that the movement on BTC has had a positive trend that is quite dominating.
The price will continue to strengthen if BTC can pass the Resistance level in the 450,000,000 – 467,000,000 area.
On the other hand, if the resistance does not work, Bitcoin will have the potential to test the support level, around 405,000,000.
2. Swipe (SXP)
Price has strengthened, passing EMA/100, so the trend is in a positive direction.
If the candle can form above the 12,800 – 17,400 area, the potential to strengthen to the 20,000 level will be even more significant.
3. ABBC Coin (ABBC)
The presence of ABBC in a bullish trend has an impact on prices which have strengthened by around 10%.
The bullish trend will be stronger if the candle can form entirely above the resistance area of 1,300 – 1,385.
The current trend is in a negative direction when you look at the MACD indicator, but this will happen if the candle weakens past WMA/85.
4. Glitch (GLCH)
It touched the price level up to around 1.302 on March 30, 2023, but the price was unable to strengthen higher and instead experienced a correction. The RSI indicator indicates that the price is already in the Overbought area.
The bullish phase on GLCH will be suppressed if the price weakens to the Break Support area of 1.070 – 1.135.
5. Cardano (ADA)
The strengthening in ADA in the 4-hour time frame began when the trend penetrated the price of 5,300 – 5,470, which caused the trend to strengthen. This also had an impact on the trend transition from Bearish to Bullish.
The strengthening of Cardano will continue if the candle with the complete form can break the level in the range of 6,100 – 6,300.
5 Bearish Crypto Assets
1. Compound (COMP)
The price decline at COMP was inseparable from the trend that could not survive above the EMA/200 and a break from the resistance area of 959,000 – 1,040,000, so it could not confirm to thwart the bearish trend.
2. Btrips (BTR)
The one-day time frame illustrates that the trend is currently in a negative direction; the trend cannot form a candle above the 422 level and continues to weaken.
The weakening that occurs will try to test the support level in the range of 320 – 355. If this area passes, the negative momentum on Btrips will be dominant.
3. ApeCoin (APE)
The current trend can be described as having strengthened after passing WMA/85, and the APE Bearish Trend will be suppressed if it can strengthen and form a candle with a complete position above the level of the 68,400 – 71,000 area.
4. GXChain (GXC)
The indications to strengthen for GXC are quite wide open, the MACD indicator indicates that the current trend is in a positive direction after the two lines crossed upwards, but this must be followed by a trend to pass through the resistance area at 7,430 – 8,145.
5. IoTeX (IOTX)
IoTeX was able to Beak EMA/200, but the price has weakened again and is on a Bearish trend. This is because it is not supported by passing the Resistance level in the range of 550 – 685.
If you stay above WMA/85, the IOTX indication to pass through the Resistance area at prices 500 – 535 will be even greater.
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.