Warm greetings to loyal INDODAX traders. In the second week of July, the crypto asset Ripple (XRP) coin was at the peak of bullish crypto assets, followed by Cardano (ADA) coin.
Intrigued by which crypto assets are indicated to be bullish and bearish? Come on, see more on the updated INDODAX Market Signal below.
5 Bullish Crypto Assets
1. Ripple (XRP) Coin
The crypto asset Ripple coin (XRP) this week has experienced a significant price increase; there are several reasons for this, namely the 4-hour chart itself, the Sideways phase in the range of 6,700 – 7,700 was able to be penetrated with a positive candle formed. News about Ripple being able to win over demands from the SEC is also a strong factor that makes XRP prices soar.
The price of XRP has been corrected, but there is a support level around the price of 10,000 – 10,500 to stop the price from weakening.
2. Cardano (ADA) Coin
The strengthening of several coins, such as XRP, also impacted the Cardano crypto asset (ADA), which experienced a price spike making the trend change at 4 hours; previously, the trend was in the Bearish phase to become a Bullish trend.
The strengthening of the Cardano (ADA) coin stops, and the candle cannot break from the resistance level of 5,200 – 5,350. If this level can pass through the bullish phase, it will get stronger and positive momentum is expected to dominate price changes.
3. Compound (COMP) Coin
The bullish trend in Compound (COMP) coin assets has been confirmed since June 28, 2023; this trend has impacted Compound (COMP) coin prices, which have strengthened to around 110%.
The price is projected to strengthen with a more volatile range, with the Bollinger Bands indicator widening on both lines, with a price target of 1,400,000 – 1,725,000.
4. Clash of Lilliput (COL) Coin
Even though the Clash of Lilliput (COL) coin crypto asset is already on the Uptrend track, the price has not increased significantly. The coin’s Bullish Clash of Lilliput (COL) phase will come under pressure if the price moves below the EMA/200.
5. Solana (SOL)
The price of the Solana (SOL) coin has strengthened by up to 50%, impacting the bullish trend, which is getting stronger, and several resistances have been broken, such as the levels 323,000 – 340,000 and 365,000 – 380,000.
There is a fairly wide resistance area for 580,000 – 700,000. If this area can be passed, then the potential for strengthening the Solana (SOL) coin will be quite high.
5 Bearish Crypto Assets
1. Audius (AUDIO) Token
Had corrected the weakening price and also the direction of the trend, but the crypto asset Audius (AUDIO) token failed to pass the Resistance level and formed a Candle above the price of 5,300 – 6,350 so that the trend weakened again and confirmed that the Bearish trend continues. If the price weakens, it will try to test the price strength of 1,980 – 2,550.
2. VCGamers (VCG) Token
The use of the 4-hour time frame indicates that if the VCG price movement tries to pass EMA/200, the Bearish trend will be confirmed and will fail to continue if the VCGamers (VCG) token succeeds in continuing to strengthen beyond levels 165 – 180.
3. Cosmos (ATOM) tokens
The current Trend of Cosmos (ATOM) token is indicated by the MACD indicator to be in the Sideways Bearish zone, with the price breaking the WMA/85 line. If it can stay above that line, the chance for Cosmos (ATOM) to strengthen is quite large, with the nearest resistance in the 162,000 – 175,000 area.
4. Ren (REN) tokens
The crypto asset Ren (REN) Token has been in a Downtrend phase since December 31, 2021, where the REN price has weakened by around 80%, making quite a deep drop. The MACD indicator has indicated a positive trend change; this must be followed by prices that can move from the 1.065 – 1.230 area.
5. PancakeSwap (CAKE) Tokens
The use of the chart in one day can be indicated if the PancakeSwap (CAKE) Token is currently in a Sideways Bearish phase with a price movement range of 19,800 – 28,300. If the upper level is passed, PancakeSwap (CAKE) will correct the weakening trend.
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 go up (bullish); each table above shows if the EMA 5 value is higher than WMA 75.85 and EMA 200 then the market tends to go up (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.
So, that was complete information about market signals for the second week of July. For you tough traders, don’t miss it to take advantage of the latest interesting features at INDODAX, Indodax Earn/stake crypto.
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