Market Signal 9 Aug '21: Bullish and Bearish Crypto Assets
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Indodax Market Signal August 9th, 2021: 5 Bullish and Bearish Crypto Assets This Week

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Indodax Market Signal August 9th, 2021: 5 Bullish and Bearish Crypto Assets This Week

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There are a number of crypto assets that will show a bullish trend in the next week. Good news for Bitcoin and Ethereum fans. This week, Bitcoin and Ethereum again showed a strengthening trend. These two kings of crypto assets are present in the Bull market. While in a bearish market, DASH is ready to experience a saturated market, after a week of continued bullishness.

Let’s discuss which crypto assets are bullish this week and which crypto assets are bearish this week.

5 Bullish Crypto Assets of the Week

As you have already heard, Ethereum is having a major hard fork that is affecting the price increase. As a network on top of the most widely used Blockchain system, there are several different ERC standard tokens used on the ethereum network:

  1. ERC-20: To create an equivalent token that has similar properties to bitcoin and other mainstream cryptocurrencies
  2. ERC-721: To create a unique non-exchangeable token like NFT
  3. ERC-1155: The multi-token standard used to create interchangeable, non-exchangeable and semi-interchangeable tokens.

Currently the Ethereum team is building and monitoring a lot so that the network is more efficient, cheap, fast, and relatively follows the development of Blockchain which allows the price to go up too.

Bitcoin forecasts in the last few weeks have often strengthened due to price increases that have been supported by several Bitcoin Evangelists.

BTC briefly touched the upper limit at the rate of 642 million, then experienced a correction overnight until this morning to the level of 620 million, but there is a possibility after that to continue the trend because of the large amount of positive information about Bitcoin, and the price of Bitcoin remains at the level of 600 million.

2020 – 2021 is a roller coaster year for this crypto asset. Founded in 2012 as OpenCoin, Ripple Labs is a software company that develops the XRP cryptocurrency and distributed ledger technology in addition to payments for efficient cross-border payments for financial institutions.

The price of XRP swung on Wednesday as its parent company, Ripple, agreed with SBI Remit to support a remittance corridor from Japan to the Philippines.

In addition, XRP will also be officially listed on an international exchange on August 11, 2021.

  • HOLO (HOT)

The crypto asset that entered the next bull market was HOT. On August 6 and 7, HOLO announced several updates through its official Twitter account.

  • BitTorrent (BTT)

Lastly, there is BTT which has re-entered the bullish trend. In April 2021, BTT was the most horrendous asset due to its rising price. After stagnating at the single digits of the rupiah, this asset has increased hundreds of times.

The price of BTT rose 38% in the past week and is showing signs of an increase in the next week.

Here are 5 Bearish Crypto Assets this Week

  • Aurora (AOA)

The market signal this time also discussed crypto assets that are still perched in the bearish area. First, there is AOA which is currently still moving in the bearish area, last week AOA moved at 16-20 prices, then it rose to 25-30 prices. The community still hopes that AOA can go higher, following the rising trend of BTC.

Aurora’s goal is to integrate blockchain into different industries such as finance, e-commerce, gaming, and the Internet of Things.

  • Algorithm (ALGO)

The crypto asset that entered the next bear market is ALGO. This cryptocurrency will show price weakness this week.

The Algorand blockchain network has its own official native cryptocurrency, called Algo, to drive a borderless economy and incentive system. Algorand Developers and Algoken co-hold coins who contribute to the Algorand blockchain community, to support network participation, and to support Algorand, the ecosystem, and research. Algo enters the ecosystem through a variety of channels including development and research grants, rewards to participants, and communities. All these activities with transparency to the Algorand community.

  • VidyX

Next, there is the VidyX crypto asset which has experienced a decline in price this week. VidyX is down 0.56% in the last 24 hours.

VIDYX is a token running on the TRON blockchain that will revolutionize how data ownership is sensibly mediated, refined, and executed on the web. The VIDYX framework is a sustainable token economy that dually supports online publisher and consumer ecommerce video inventories.


Next there is the IOTA crypto asset that will experience a decline in price.

IOTA is an open source distributed ledger protocol that goes beyond the ‘blockchain’ through its core discovery of the blockless ‘Tangle’. IOTA Tangle is a Quantum Resistant Directional Acyclic Graph, with no transaction fees & no fixed limit on how many transactions can be confirmed per second on the network. In contrast, throughput grows in relation to activity on the network; the more activity, the faster the network.

  • Dash (DASH)

Finally, the crypto asset that has experienced a decline is Dash. As one of the legendary crypto assets, DASH has not shown an uptrend signal in the last few weeks. DASH has experienced frequent declines including its ranking in CMC which is now at number 59. Dash has fallen 6.02% in the last 24 hours.

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.

ATTENTION: All content 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 an action in a transaction, either buying or selling. certain crypto assets. All crypto asset trading decisions are independent decisions by the user. Therefore, all risks arising from it, both profit and loss, are not the responsibility of Indodax.

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