INDODAX Market Signal April 17, 2023
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INDODAX Market Signal April 17, 2023

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INDODAX Market Signal April 17, 2023

Update INDODAX Market Signal 17 April 2023

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Hello INDODAX members! Entering the 3rd week of April, this week, the XRP crypto asset occupies the top position of the bullish trend, which is then followed by the KRD crypto asset.

Watch INDODAX Market Signal to find out which crypto assets are indicated to be bullish and bearish this week!

5 Bullish Crypto Assets

1. Ripple (XRP)

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The positive momentum for XRP occurred after the Sideways Bearish phase in the price range of 5,500 – 6,400 was passed, followed by the Resistance level, which was passed so that it could confirm the Bullish Ripple trend on the 1 Day time frame.

The bullish trend will get stronger if it can pass through the resistance zone, which is quite dominant around the 7,900 – 9,200 area.

2. Krypton DAO (KRD)

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Dominated by sideways price movements but in the Bearish zone with a range of 7,700 – 8,400, on March 29, 2023, KRD experienced quite volatile price movements, with the Sideways phase being able to end and enter a Bullish trend.

It touched the level of 26,500, which is the highest KRD price since December 2022.

If you look at the RSI indicator, the KRD price is currently in the overbought area, with price weakening which, if it occurs, will try to test the support level in the range of 19,400 – 22,800.

3. WOO Network (WOO)

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The current bullish zone will be under pressure if the trend cannot survive above the support level of 2,800 – 3,000.

If WOO Network can move above 3,750 – 4,000, it will strengthen price movements in the bullish zone.

4. Venus (XVS)

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On the 4-hour chart, Venus continues to experience a pretty good strengthening in comparison since being in a bullish trend on April 9, 2023.

Until now, Venus has climbed around 40%. Experiencing a fairly reasonable correction after touching the price range of 145,000 but halted by the dominant support level at 82,000 – 95,500.

5. Swipes (SXP)

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The price increase on SXP is in line with the ongoing Bullish trend. MACD indicates that the Swipe on the 1-day time frame is in a positive phase, and the histogram is positive.

It had touched the 14,175 level, but the price could not continue strengthening higher. Passing this level will open opportunities for a new bullish trend to form.

5 Bearish Crypto Assets

1. Bitcoin Gold (BTG)

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The bearish trend on BTG has been going on for quite a long time, starting on December 13, 2021.

The decline in BTG so far can be expected to be quite deep, where it has weakened by around 60%.

If you look at the shape of the current candle, price movement, or the candle is stuck by WMA/85, indicating if you can move from WMA/85, then the opportunity to pass EMA/200 will be wide open.

2. Chainbing (CBG)

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It is in the Downtrend phase, but if using the current 4-hour chart, Chainbing is assumed to be in the Sideways Bearish zone, with a weakening which, if it occurs, will test the Support level at 20,000 but if CBG can stay above WMA/75 then the potential to pass 22,500 – 23,500 will be opened wide enough.

3. DEAPcoin (DEP)

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The 4-hour time frame shows if DEP has been in the bearish zone since February 18, 2023. Look at the Bollinger Bands indicator.

Price movements will be more limited but in the direction of weakening with a range of movement in the 46-49 area. A break of one of the levels will confirm the direction of the trend. Furthermore.

4. DAD (DAD)

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The decline in DAD deepened after the price was unable to pass EMA/200, this indicates that the overall price movement is still in the Downtrend zone, but the trend will be able to strengthen again if it can penetrate the Resistance area 420 – 470.

5. IOTA (IOTA)

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Even though the current trend is in the bearish zone, the possibility of strengthening is quite wide open. If IOTA can move above WMA/85, an indication to strengthen and break EMA/200 will occur.

Assuming EMA/200 is passed, a long candle must be followed. able to Break Resistance level in the range of 4,500 – 4,880.

 

 

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.

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