Good news for Indodax loyal traders because at the end of July 2023, the movement of crypto assets began to excite; for example, the two assets Murasaki (MURA) token and Origin Protocol (OGN) token, have reached the peak of the bullish trend on the INDODAX crypto market.
If you’re curious, let’s look at the latest market signals at INDODAX Academy to learn more about which crypto assets are showing bullish and bearish potential this week.
5 Bullish Crypto Assets
1. Murasaki (MURA) tokens
On the 4-hour time frame, it can be identified if the crypto asset Murasaki (MURA) token has experienced a significantly high increase; the Candle tested the EMA/200, then the Candle failed to penetrate, then the price increased to touch 54,000 but experienced a weakening considering the RSI indicator touched the Overbought area so the price unable to strengthen any further.
The weakening trend will try to test the strength of the available support area at 32,000 – 35,000.
2. Origin Protocol (OGN) tokens
Furthermore, the Origin Protocol (OGN) token crypto asset in the Bullish zone on July 24, 2023, impacted the OGN price, which increased by up to 70%. The MACD indicator estimates the trend to be in a negative direction with the line crossing downwards; if the price can move lower past WMA/75 and the 1,350 – 1,500 levels, it will have an unfavorable impact on the bullish trend.
3. Celsius (CEL) Coin
Managed to break positive from the Sideways zone, which is wide enough at the level of 2,340 – 2,730 so that the crypto asset Celsius (CEL) coin can strengthen the trend in the Bullish zone, but the Uptrend phase will be confirmed to fail to continue if the Support area in the range of 2,000 – 2,400 is passed because it will exert negative pressure on price movements.
4. Carry (CRE) Coins
Being in a bullish trend, but the price is experiencing quite balanced pressure between selling and buying, experiencing a positive rebound after being able to hold on to the Support zone in the 48-52 area. If the Support level is at 53-60, it cannot withstand the weakening of the Carry price (CRE) ) coin, then expect the Bullish trend to be depressed.
5. Injective (INJ) Tokens
On the INJ Chart 1 Day movement, the injective crypto asset (INJ) is weakening and stuck at WMA/85. The strengthening of the trend will be wide open if the resistance in the range 135,000 – 145,000 can be passed so that the bullish trend will be stronger to continue.
5 Bearish Crypto Assets
1. Loopring (LRC) Coin
Breaking the EMA/200 and staying above that line, the price weakened again and continued the Bearish phase because the trend failed to cross the resistance line, which was quite strong at 6,800 – 7,500.
The Bearish trend will experience pressure if the price can pass the resistance in the 4,000 – 4,900 area.
2. Efinity (EFI) Tokens
The MACD indicator indicates that the trend is in a negative direction, but currently, the price is moving above WMA/75; if the Efinity Token can break from the 1,000 – 1,280 area, the Efinity (EFI) Token will be more positive and suppress the Bearish trend.
3. Dao Maker (DAO) Tokens
The Dao maker (DAO) token crypto-asset managed to enter the Bullish phase on March 18, 2023 but failed to continue the direction of the trend movement until the Support level of 18,900 – 21,000 was passed so that the Dao maker (DAO) token was confirmed to be in the Bearish phase on June 6, 2023.
Currently, the trend is being halted at the support area of 10,000 – 15,000 and needs further time to create a new direction by penetrating this area.
4. Verasity (VRA) Tokens
The 4-hour Verasity (VRA) token time frame is assumed to survive above the Support level of 55 – 63 because if the trend passes that level, the Bearish trend will become stronger for the Verasity (VRA) token. Vice versa, if it succeeds in surviving, the potential for VRA to strengthen through the EMA/200 is quite large.
5. DASH (DASH) Coin
The movement of the DASH (DASH) coin trend on the 4-hour chart is currently predicted to be in the Sideways Bearish phase with quite wide price movements in the range of 465,000 – 500,000. If one level is passed, the DASH (DASH) coin movement becomes more dynamic and has the potential to increase. Change the trend direction.
That was the discussion regarding the latest market signal movements at the end of July 2023; hopefully, this updated information will make it easier for you when you want to trade.
Note: If the EMA 5 crosses the WMA 75, 85, and EMA 200 lines and these 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, it means that the market is showing the same trend, overbought or oversold conditions (oversold), which indicates that the market is already at the point of changing the trend direction.
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