This week’s bullish trend is occupied by Solana (SOL) in the first position and followed by Immutable X (IMX) to Render Token (RNDR).
Curious about what crypto assets are experiencing bullish or bearish trends this week? Check out the full INDODAX Market Signal update below!
5 Bullish Crypto Assets
1. Solana (SOL)
The increase experienced by Solana (SOL) can be indicated in the 1-Day timeframe was quite high, where the increase that began on October 30, 2023, impacted the positive change in Solana (SOL) price by more than 300%. The current trend of Solana (SOL) is moving in a positive trend, after the MACD has crossed upwards. The bullish trend is expected to be able to continue if there is a candle that forms above the 2,000,000-2,200,000 area.
2. Immutable X (IMX)
The strengthening that occurred in Immutable X (IMX) looks quite massive and impacts the resistance that has been broken at 40,000. Currently, the trend identified by the RSI indicator is overbought, with the closest support available at the 27,000-32,000 area.
3. Space ID (ID)
Previously, Space ID (ID) moved in a narrow or sideways range with a movement area of 4,000-5,600. Still, Space ID (ID) managed to end the bearish phase positively by breaking and staying above the resistance line, thus ensuring the uptrend phase occurred.
4. IoTeX (IOTX)
On the 4-hour chart used, the IoTeX (IOTX) support area can be identified as the 540-615 area. If this area can be broken and a full candle is created, then the IoTeX (IOTX) trend will form below the WMA/85, putting the bullish phase under pressure.
5. Render Token (RNDR)
Strengthening prices on Render Token (RNDR) align with the indications shown by the MACD indicator. The bullish trend position will be even stronger if the 8,500 area is successfully broken, impacting the Render Token (RNDR) price, which touched the highest price while on INDODAX.
5 Bearish Crypto Assets
1. HedgeTrade (HEDG)
HedgeTrade (HEDG) is still indicated to be in the bearish zone, where the price weakness that has occurred is quite deep, and the trend has not been able to correct the price direction to be positive. Although the MACD indicator indicates that the current trend is narrowing, the HedgeTrade (HEDG) price continues to weaken. The trend will improve with enough positive momentum to form a candle above 400.
2. Unifi Protocol DAO (UNFI)
On the 4-hour chart, Unifi Protocol DAO (UNFI) has been in the bearish zone since December 13, 2023. Unifi Protocol DAO (UNFI) could bounce and move away from the EMA/200 zone, but the trend should be able to cross the 11,000-12,000 level, so it is likely to move higher.
3. Serum (SRM)
The MACD indicator shows that the trend of Serum (SRM) is in a negative direction but is limited. The impact on the price is weak and does not move significantly. Serum (SRM) price is not showing any positive changes. This is inseparable from the candles that test the strength of the 1,500-2,500 resistance area.
4. King DAG (KDAG)
The bearish phase will experience negative pressure and may threaten King DAG’s (KDAG) bearish phase to continue. One indication is that the trend does not break the dominant support level in the 1,700-1,750 area, followed by a candle being able to form above the price of 4,000, so positive momentum will be enough to drive price movements.
5. ApeCoin (APE)
Currently, ApeCoin (APE) is held by the WMA/85 line. If the price of 30,000 can form a candle, it is possible that the trend could cross the line, which would be followed by the MACD indicator making a positive line crossing.
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.
