Indodax market signal again displays 5 bullish and bearish crypto assets this week. What are the ups and downs of crypto assets?
Last week, a downtrend caused almost all crypto assets to decline. One of the reasons is that Bitcoin “The King of Crypto” has experienced resistance or a decline from the highest price.
The decrease started from Rp. 950 million down to Rp. 800 million and even to Rp. 720 million. Usually, the decline in Bitcoin also causes other cryptos to drop too.
However, from the end of last week until this morning, many crypto assets have seen a rise from lows or support. Some of them are DeFi crypto assets such as UNI, UMA, and COMP.
As for Bitcoin, it is likely that it will still be bearish for the next week. The crypto asset with the largest volume on the Indodax Market, DOGE looks still side ways at a price of IDR 4,000 and is likely to stag for the next week.
For more details, let’s look at crypto assets that go up and down, below:
5 Crypto Assets will Bullish
The first crypto asset bullish is CELO. This crypto is believed to strengthen over the next week.
Celo Foundation (CELO) is an open and open source platform, enabling an ecosystem of powerful applications that are built on top of, including easier cash transfer programs, peer-to-peer lending, collaborative small-scale insurance, and other digital assets and wallets. The Celo protocol includes unique features that create a seamless user experience on mobile to create a truly inclusive financial system.
On this day, CELO’s lowest price is IDR 80,000 and the highest is IDR 150,000.
- Compound Finance (COMP)
Next, the crypto asset will bullish on the week was Compound Finance (COMP). The DeFi platform will likely improve over the next week as well.
Previously, COMP also experienced a decline in line with the decline in the price of Bitcoin. However, the increase has been seen at the weekend and this morning.
Compound is a protocol on the Ethereum blockchain that establishes a money market, which is a collection of assets with an algorithmically lowered interest rate, based on the supply and demand of assets.
Suppliers (and borrowers) of assets interact directly with the protocol, generating (and paying) floating interest rates, without having to negotiate terms such as maturities, interest rates, or guarantees with counterparts or counterparties.
Today, the Ethereum price is at the lowest level of Rp8,321,985 and the highest price is Rp9,100,000.
- Uniswap (UNI)
Third, the next rising crypto asset is Uniswap (UNI). The increase occurred because there was a V3 mainnet upgrade, as listed on coinmarketcal.com.
UNI is one of the most popular DeFi crypto assets used by people. The UNI support trend has also been seen at the end of the week and today, after correction during the downtrend last week.
In today’s trade, UNI’s lowest price is IDR464,646 and the highest is IDR550,000.
- Ethereum (ETH)
Next, the crypto asset that went up was Ethereum (ETH). Ethereum’s rising price trend continues. Although, sometimes Ethereum experiences price corrections.
At the time of the downtrend yesterday, Ethereum was still at its highest level, around Rp.33 million-Rp.35 million. ETH will still show an increase in price as the crypto is currently being upgraded to Ethereum 2.0.
In the middle of the year, this crypto will upgrade EIP-1159 or burn some ETH. This is to reduce its maximum supply in the future. Because this crypto is improving to overcome its shortcomings, which is an unlimited supply.
The lowest price for ETH today is IDR 33,333,000 and the highest is IDR 35,965,000.
- Monero (XMR)
Lastly, the crypto asset that went up was Monero (XMR). After not being affected by the downtrend yesterday, XMR is likely to continue to experience strengthening prices this week.
XMR is moving today with the lowest price of IDR 5,445,000 and the highest price of IDR 6,200,000
5 Crypto Assets Bearish
First, there is IOST which will experience a price decline in the next week. It seems that this crypto will still not improve next week. There is no information regarding the technology upgrade from IOST so he will be left behind by investors this week.
On this day, IOST moved with the lowest price of IDR 695 and the highest price of IDR 780.
- Holo (HOT)
Holo (HOT) is a new crypto asset listing on Indodax two weeks ago. This week, HOT seems to be experiencing a decline in prices. This token is a derivative of Holochain. Holo aims to be a bridge between the wider internet.
HOT offers an easily accessible DApps ecosystem and market. Due to hoting on the internet on Holochain’s network. HOT’s lowest price is Rp170 today. Meanwhile, the highest price is IDR 204.
- Bitcoin SV (BSV)
Third, there is Bitcoin SV which is likely to be bearish this week. This crypto asset will experience a price decline because the Bitcoin price will likely still experience a price decline.
Today, BSV moved at the lowest level of Rp3,550,000 and the highest price was Rp3,966,000.
- Algorand (ALGO)
Next, there is Algorand (ALGO) which will experience a price decline. ALGO during the next week will experience a decline in prices.
The Algorand blockchain network has its own official native cryptocurrency, called Algo, to drive a borderless economy and an incentive system. Algorand Developers hold Algo coins / tokens that contribute to the stability of the Algorand blockchain, to encourage network participation, and to support the Algorand community, ecosystem building, and research.
ALGO sold for IDR 16,700 for the lowest in today’s trading. Meanwhile, the highest price is IDR 19,000.
- Bitcoin (BTC)
Finally, the King of Bitcoin Crypto Assets is likely to experience a decline in price this week. It is still unknown why Bitcoin has experienced such a deep drop in price.
This condition occurs when Bitcoin is resistant, slumping from the highest price of IDR 950 million. However, is this the downfall of Bitcoin?
When will Bitcoin rise again and return to its highest price in history, All time high (ATH)? Apparently, not this week.
In today’s trading, the lowest price for DOT is IDR 556,000 and the highest price is IDR 663,728.
NOTE: If EMA 5 crosses the WMA 75, 85 and EMA 200 lines and these lines intersect from bottom to top, the market trend tends to go up (bullish),
In each table above, it shows that if the value of EMA 5 is higher than WMA 75.85 and EMA 200 then the market tends to rise (bullish).
If the RSI and MACD values show the same condition, it means that the market is showing the same trend, overbought conditions or oversold conditions are an indicator that the market is at a point of changing the direction of the trend.
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