Hello INDODAX members! Welcoming the beginning of July 2023 this week, Bitcoin (BTC) occupies the top position of bullish crypto assets, followed by BSV in second place.

Let’s take a look at INDODAX market signals and get information about which crypto assets are indicated to be bullish and bearish!

5 Bullish Crypto Assets

1. Bitcoins (BTC)

The BTC bullish trend in the 1-day time frame makes positive momentum dominating enough so that prices can move quite convincingly.

The current trend is illustrated by the MACD indicator, which is still positive; this will also test the resistance area available at the level of 508,000,000 – 600,000,000.

The available price range is wide enough, so it will take more time to confirm the direction of Bitcoin’s movement in the long term.

2. Bitcoin SV (BSV)

The strengthening in Bitcoin SV was inseparable from the strengthening of Bitcoin, creating a positive trend.

BSV has been in the Uptrend zone since June 27, 2023; the price of BSV has been able to move from the price level of 410,000 – 500,000 so that it can be confirmed.

A possible indication of weakness will try to test the strength of the 600,000 – 655,000 area.

3. Maker (MKR)

Bullish Trend Maker on the 4-hour time frame will be able to stay away from the Bearish phase if the price does not penetrate 8,800,000 – 9,950,000 after this level; MKR is assumed to be below the EMA/200 so that it will provide unsupportive momentum.

4. Injective (INJ)

Since being in the Bullish zone on February 15, 2023, INJ has strengthened by up to 200%; this strengthening has impacted the form of a trend that is getting further away from the Bearish phase.

If the price level of 130,000 – 150,000 can be passed, it is estimated that INJ will experience further strengthening.

5. Litecoin (LTC)

It had weakened because it moved below EMA/200, but the candle could bounce back after holding on to the Support level of 1,230,000 – 1,260,000 to continue strengthening and confirming the Bullish trend.

The current price is estimated that the RSI indicator is in the overbought zone, with a weakening which, if it occurs, will test the support area of 1,500,000 – 1,580,000.

5 Bearish Crypto Assets

1. dYdX (DYDX)

Price movements using a 1-day time frame, DYDX is indicated to be still in the Bearish zone, but this phase will experience pressure if DYDX can pass EMA/200 followed by resistance at prices 35,000 – 40,000, which is broken.

2. Ontology (ONT)

ONT has been in the Bearish zone since June 05, 2023, this was marked by the Sideways phase, which managed to pass, but the Support level at 2,880 was broken.

However, the MACD indicator indicates that if Ontology is in a positive trend, this will continue if the price of 3,700 manages to be broken.

3. Zilliqa (ZIL)

The decline in ZIL was quite deep; June 06, 2022, marked that the Bearish phase had occurred, with the weakening to around 50%.

Even though ZIL has moved away from the oversold zone, if the price levels of 390 – 450 have not been successfully passed, it is estimated that Zilliqa will still be in a downtrend.

4. Shill Token (SHILL)

The SHILL movement indicates that currently, the trend is in the Bearish Sideways zone with an estimated range of 110 – 135. If one of these levels can be passed, it can confirm the direction of the continued trend movement.

5. HedgeTrade (HEDG)

The MACD indicator illustrates that the HEDG trend is in a positive zone, but this does not directly impact price movements, which instead move flat.

With price movements quite wide between 410 – 740, further is needed, but if one of the levels is passed, it is assumed that the price will move quite fluctuating.

 

Note: If the EMA 5 crosses the WMA 75, 85, and EMA 200 lines and the lines intersect from the bottom up, then the market trend tends to be up (bullish); each table above shows if the EMA 5 value is higher than WMA 75, 85 and EMA 200, the market tends to rise (bullish).

Suppose the RSI and MACD values show the same condition. In that case, the market is showing the same trend. The condition is overbought (overbought) or oversold (oversold), which indicates that the market is at the point of changing the trend direction.

 

Attention: All content which includes text, analysis, predictions, images in the form of graphics or charts, as well as news published on this website, is only used as trading information and is not a suggestion or suggestion to take action in a transaction, either buying or selling certain crypto assets.

All crypto asset trading decisions are independent decisions by users. Therefore, all risks arising from it, both profit and loss, are not the responsibility of INDODAX.