Hello Indodax members! Entering the last week of January 2023, there are ALICE and SNX in the Bullish crypto asset range, let’s read more here!
5 Bullish Crypto Assets
The strengthening in BNB began with prices being able to hold above Support 4,040,000 – 4,070,000, then followed by a trend that moved to strengthen, which resulted in several broken Resistances such as 4,270,000 so that BNB was on the Uptrend path.
The MACD indicator describes the current price as narrowing, indicated when it is in Sideways Bullish, assuming that the movement is in a positive direction but with limited changes.
BNB’s position in the Bullish trend will get stronger if it can pass the level of 4,780,000 – 4,850,000.
It is indicated that Solve has been in an Uptrend since January 16, 2023, and the price continues to show quite positive changes.
This happens when the trend moves in line with WMA/75. On January 28, 2023, the price touched the range of 640, which is the highest price since November 4, 2022.
The RSI indicator indicates that the price is being corrected after the trend is in the Overbought area, with support levels in 520 – 550.
My Neighbor Alice (ALICE)
The movement of the ALICE price in the 4-hour time frame moves quite dynamically. The Bollinger Bands indicator estimates if My Neighbor Alice’s price movement can break the Resistance or Support levels.
Resistance level determination is available in 28,800 – 30,000, assuming the candle has a fairly strong bullish shape.
Synthetix Network Token (SNX)
The break of WMA/80 became a momentum for SNX to fluctuate but in a positive direction. The RSI indicator shows that the current price is still fluctuating because it has not touched the Overbought or Oversold areas, so it requires further confirmation.
Synthetix Network Token has a Support level of 30,000 – 34,000, where if this level is passed, then there is a potential to return to the WMA/75 line.
On the 4-hour chart, the MACD indicator COMP shows an intersection but downwards on both lines, but this must be confirmed further by the trend movement, which must penetrate the support level in the 665,000 – 724,000 area with the assumption that the trend is unable to pass through that level. Indications to continue strengthening will be wide open.
5 Bearish Crypto Assets
ABBC Coin (ABBC)
The bearish trend on ABBC Coin has occurred since December 31, 2022. The trend could not survive above the EMA/200, confirmed by a break of 2.050 – 2.330, so weakness was inevitable.
The MACD indicator indicates that the current trend is Sideways Bearish, with a trend range of price movements showing a decline. Still, the movement is currently more limited, with a range of 1,100 – 1,590 if one of these levels is broken. It will create a new movement for ABBC.
H2O DAO (H2O)
Had passed the EMA/200 and touched the price range of 2,950, but the candle with the complete form was unable to form above the EMA/200, then the price weakened again and followed the bearish trend again.
The price is currently expected to move in the range of 1,690 – 1,950. If the price can break the resistance, it will go to 2,000.
HEDG is still indicated to be in the Bearish zone, but the Bearish trend will be confirmed to fail to continue if it can move above EMA/200. Then this must be followed by passing a resistance level, one of which is 1,600.
Based on the MACD indicator, Helium is estimated to be in the weakening zone because the two lines have crossed downwards.
Still, weakness will be more limited with a range of movements in the area of 23,500 – 53,000, a break of resistance that will push HNT towards 75,000.
Bancor Network Token (BNT)
Looking at the BNT movement in one day, you can identify if the trend has weakened deep enough. Even though the MACD indicator shows that the trend is in a positive area with a positive histogram, this does not have a significant impact on price movements, which tend to be insignificant and still stall below the resistance in the range of 7,900 – 8,000.
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), each table above shows that if the 5 EMA value is higher than the 75.85 WMA and 200 EMA, the market tends to go up (bullish).
If the RSI and MACD values ??show the same condition, it means that the market is showing the same trend. Overbought or oversold conditions are an indicator that the market is already at the point of changing direction of a trend.
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