This week’s bullish and bearish crypto assets are different compared to last week. Bitcoin is not able to sustain a rally or increase in price continuously.
Indodax Market Signal January 25th – January 31st, 2021 is no longer recommending Bitcoin. Understandably, Bitcoin still has not shown a bullish signal after showing an increase for so long.
Likewise in a bearish signal, Bitcoin is also showing no decline in prices this week. The decline in the price of Bitcoin is predicted to be temporary.
This also applies to DOGE. This crypto asset has not shown any bullish or bearish signals, this has happened since DOGE reached its highest price in the early week of January 2021.
However, signals of rising prices for other crypto assets are still widely found in crypto assets on the Indodax market. Although, with different coins than last week.
This week, bullish crypto assets are more focused on crypto assets based on decentralized finance (DeFi). Meanwhile, bearish crypto assets are also different. USDT and USDC have strengthened in price in line with the strengthening of the United States dollar (USD).
Here are 5 crypto assets that are bullish and bearish on the Indodax market January 25 – January 31, 2021.
5 Crypto Assets That Are Bullish
- Uniswap (UNI)
The first bullish crypto asset is Uniswap. This crypto asset is a decentralized exchange platform that stands on Ethereum’s ERC20 network.
The price increase occurred in line with innovation and moments that have occurred since last week. Uniswap is one of the popular decentralized finance (DeFi) based crypto assets. UNI is a crypto asset of the Uniswap platform. One of the crypto assets that can be obtained from the Uniswap platform is Tadpole Finance. Next week, this crypto asset will be listed on Indodax.
In today’s trade, UNI moved at the lowest level at IDR133,266 and the highest level at IDR173,178
The following is the UNI technical analysis for this week:
|Summary||BUY (5) overbought (1)|
- Ethereum (ETH)
Ethereum is back in a bullish crypto asset. Even though last week he had a correction after touching the highest price of over Rp20 million.
This year, Ethereum is evolving into Ethereum 2.0. One of these evolutions has been the lockout of ETH supplies.
ETH has an unlimited supply, unlike BTC. However, at the end of last year, ETH locked in 1.1% of its total supply thus affecting prices at the beginning of this year. This year, ETH will again lock its supply in ETH 2.0 phase 1 evolution.
In addition, the increase in transactions on the DeFi platform will certainly strengthen the price of ETH. Because a lot of DeFi platforms are on Ethereum’s ERC20 network.
In today’s trading, ETH moved at the lowest level of IDR17,219,000 and the highest level was IDR18,800,000. ETH entered into 5 bullish crypto assets this week.
Here’s the ETH technical analysis for this week:
- Sushiswap (SUSHI)
The next bullish crypto asset is Sushi Swap (SUSHI). This crypto asset is a DeFi-based altcoin. SUSHI is a new DeFi platform that is quite popular.
The price hike started at the end of last week. The increase is also in line with the increase in innovation and the moment on the platform.
In today’s trading, SUSHI moved at the lowest level at IDR101,100 and the highest level at IDR132,500. SUSHI has entered into 5 bullish crypto assets this week.
The following is SUSHI’s technical analysis for this week:
- Chainlink (LINK)
The next bullish crypto asset is Chainlink (LINK). This DeFi platform has also experienced price increases along with the increase in transactions on its platform.
Price increases have also occurred because this platform is increasingly in demand by crypto asset activists. This is the result of technological innovation and momentum that is happening to the DeFi crypto asset.
In today’s trading, LINK moved at the lowest level at IDR327,483 and the highest level at IDR357,489. LINK entered into 5 bullish crypto assets this week.
The following is LINK’s technical analysis this week.
- Saffron Finance (SFI)
Another bullish crypto asset is Saffron Finance (SFI). As with other DeFI crypto assets, this DeFi crypto asset is also in demand. Understandably, when the price of Bitcoin drops, crypto asset DeFi becomes an alternative crypto asset for investors.
In today’s trading, SFI moved at the lowest level of Rp7,330,997 and the highest level was Rp10,277,000. SFI entered into 5 bullish crypto assets this week.
Here’s the SFI technical analysis for this week:
Here are 5 Bearish Crypto Assets This Week
The weakening of Ripple (XRP) price is still continuing this week. XRP has been bearish in the last few weeks.
Previously, Ripple Labs was sued by the Exchange and Equity Authority for alleged violations. The Security Exchanges Commission (SEC) assesses that XRP is cheating.
The crypto asset was left behind by exchanges in the United States. So that the price has decreased.
In mid-year trading, XRP moved at the lowest level of IDR 3,787 and the highest level of IDR 3,900.
Here’s the XRP technical analysis for this week:
|Summary||SELL (4) BUY 1 OVERSOLD (1)|
- Ontology (ONT)
Next is Ontology (ONT) which has decreased or is bearish. This crypto asset has experienced a decline in price because traders or investors left it.
It seems that the ONT innovation is still unable to increase the price this week. However, they actually experienced a decrease in prices.
In today’s trading, ONT moved at the lowest level of Rp8,304 and the highest level was Rp8,901.
Here’s the ONT technical analysis for this week:
|Summary||SELL (4) BUY (2)|
- King DAG (KDAG)
The next bearish crypto asset is King DAG (KDAG). This is indeed not a favorite crypto asset. Understandably, the rating is in the 500’s on the Coinmarketcap.com crypto asset rating coin.
Investors or traders prefer other, more favorite crypto assets. This also causes the price to not increase so far. In fact, it shows signs of weakening prices this week.
In today’s trading, KDAG moved at the lowest level of Rp3,295 and the highest level was Rp3,474
Here’s KDAG’s technical analysis for this week:
|Summary||SELL (5) Oversold (1)|
- Crypto.com Coin (CRO)
The crypto asset that was bearish over the next week was Crypto.com (CRO). These crypto assets are on an exchanges platform, much like Indodax’s.
Crypto.com still hasn’t shown any increase in prices this week. In fact, last week, Crypto.com collaborated with Booking.com as a business innovation.
Crypto.com members will get discount benefits and more when using the Booking.com application.
In today’s trading, the lowest price of CRO is at the level of Rp1,012 and the highest price is Rp1,052.
Here’s the CRO technical analysis for this week:
|Summary||SELL (4) NEUTRAL (1) OVERSOLD(1)|
- Bitcoin SV (BSV)
Bitcoin SV is a crypto asset that will be bearish over the next week. Bitcoin SV is a fraction of Bitcoin Cash which is a hard fork with Bitcoin in the mining zone.
Its price has decreased after Bitcoin stopped strengthening last week. However, Bitcoin does not enter into a bearish signal because people still believe in the “King” of crypto assets.
In today’s trading, BSV moved at the lowest level of Rp2,438,000 and the highest level was Rp2,555,000.
The following is the BSV technical analysis for this week:
NOTE: If the EMA 5 crosses the WMA 75, 85 and 200 EMA 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 trend direction.
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