The bullish lineup on this third week of December 2023 was graced by different crypto assets from the previous week, such as Avalanche (AVAX), dYdX (DYDX), to WOO Network (WOO).
Curious about which crypto assets are experiencing bullish or bearish trends this week? Check out the complete INDODAX Market Signal update below!
5 Bullish Crypto Assets
1. Avalanche (AVAX)
The support area at the 420,000-500,000 level on Avalanche (AVAX) will be quite crucial momentum for price movements if it experiences weakness, but on the other hand, if it manages to move away, it indicates that the Avalanche (AVAX) trend will move stronger.
2. dYdX (DYDX)
The trend of dYdX (DYDX) is in an upward direction. This is illustrated by the candle based on the 1-day timeframe above the WMA/75 line. A candle penetrating the 60,000-70,000 level will open a positive indication for the movement of the dYdX (DYDX) trend.
3. WOO Network (WOO)
Starting with the success of the WOO Network (WOO) candle not breaking through the EMA/200, the trend could continue to strengthen by more than 50%. The estimate of the next trend direction when looking at the MACD indicator shows that the WOO Network (WOO) price is in a positive phase, and the candle will try to penetrate the 7,000 level.
4. IoTeX (IOTX)
The MACD indicator indicates that the IoTeX (IOTX) trend is in a positive phase, with an indication that if the trend can stay above the 440-530 level, then IoTeX (IOTX) will probably be able to continue the bullish trend.
5. NEAR Protocol (NEAR)
If you look at the price movement of NEAR Protocol (NEAR) on the 1 Day chart, the trend has moved away from the overbought area on the RSI indicator, which is assumed to require further time to confirm the next trend movement of NEAR Protocol (NEAR), then the nearest resistance is available at 40,000-44,000.
5 Bearish Crypto Assets
1. Giant Mammoth (GMMT)
Giant Mammoth’s (GMMT) movement in the 4-hour timeframe significantly weakens. After breaking through the 40,000-42,000 level, Giant Mammoth (GMMT) experienced a decline of around 50%. The price of Giant Mammoth (GMMT) was able to move from the oversold zone, but this did not have a positive impact on price changes. However, a breakout of WMA/85 will correct the price weakness.
2. Alitas (ALT)
The bearish Alitas (ALT) phase will experience pressure and will not be able to continue if the EMA/200 cannot withstand the strengthening candle. This should be followed by a pass through the 4,000-4,500 area.
3. MARBLEX (MBX)
The resistance area of 190,000-260,000 is quite dominant for MARBLEX (MBX). So, if this area can be passed, then the indication for MARBLEX (MBX) to improve the price, which has weakened, is quite large.
4. Degree Crypto Token (DCT)
Degree Crypto Token (DCT) was unable to sustain above the price of 1,200,000-1,250,000, followed by the EMA/200 being broken so that the bullish trend turned into a bearish trend on December 16, 2023. The MACD indicator indicates that currently the trend is in a sideways phase, and if one of the lines can be penetrated, it will provide a new direction for the Degree Crypto Token (DCT) price movement.
5. Loom Network (LOOM)
Positive momentum for Loom Network (LOOM) price changes will be created. Prices above WMA/75 will indicate that Loom Network (LOOM) to moving towards dominance from resistance located at 1,900-2,100.
NOTES:
If EMA 5 crosses the WMA 75, 85, and EMA 200 lines, and these lines intersect from bottom to top, then the market trend tends to be upward (bullish).
Each table above shows that when the value of EMA 5 is higher than WMA 75,85 and EMA 200, the market tends to rise (bullish).
If the RSI and MACD values show the same condition, the market is showing the same trend; an overbought (overbought) or oversold (oversold) condition indicates that the market is at the point of changing trend direction.
