Hi everybody! Have you bought on the dip in this bearish market? Let’s find out more as a reference in determining which crypto assets you can buy or sell!
5 Bullish Crypto Assets
After being in a sideways phase which experienced a constriction and on 04 June 2022, TitanSwap (TITAN) experienced a breakout at the top line which indicated that buying of this coin was very high, as shown by the Bollinger Bands indicator. The breakdown of the Bollinger Bands indicator line made the TITAN trend moved quite volatile causing a high increase making TITAN entered the Bullish Trend and broke the Resistance line at 39.335.
If the TITAN’s price increase continues, it will then test the price level of 67.900, a break of this price level will indicate that the price is still moving up and will test the next price which is at 81.600. The bullish phase will continue if the price trend cannot cross the strong support line at the price level of 34,750.
Digix Gold Token (DGX)
The increase in DGX began on June 16, 2022, the price moved up quite significantly at around 56.90% which caused the RSI indicator to be in the overbought area, so the price was unable to go higher and underwent a correction.
The use of the chart with the 4-hour time frame shows that if the price is still above the EMA/200, it is located at 556,798 which opens the opportunity to stay in the uptrend channel. The support level is in the price range of 600,700 – 600,800 while the resistance level is at 720,000. Things to keep in mind is that if a complete candle is formed above this resistance level, it will open the opportunity to continue the strong trend.
Multi-collateral DAI (DAI)
The sideways trend dominated the Multi-collateral DAI (DAI) which moved from the price range of 14,250 – 14,375 based on the 1-day movement chart. The direction of movement was quite often testing WMA/75 at 14,560 and also WMA/85 at 14,535 which could be an indicator of a support level if the price weakens.
The MACD indicator was in a positive trend and also accompanied by a positive histogram as well, this was in line with the RSI Indicator which was indicating an increase but is not yet in the overbought area.
The positive MACD and RSI indicators could not be separated from the direction of the trend which was able to stay above the WMA/75, WMA/85 and also the EMA/200 and when referring to the direction of price movement previously, you must be careful, if at any time the price trend of DAI has increased or decreased quite significantly.
After hitting the highest price since May 19, 2022 Btrips (BTR) underwent a fairly dynamic correction which always tested the EMA/200 line at the price level of 1.040. A new trend will form in the Bullish phase, if there is a candle that forms above the 1.370 resistance level. The Bullish trend will be tested and in danger of failing to continue, if BTR weakens and is able to break the support level at 1,000.
The increase in USDT was inseparable from the condition of the crypto market which is experiencing a deep correction. The bullish trend has occurred since 03 May 2022, the price had experienced a correction and touched the EMA/200 at the price of 14,500, but continued to weaken and broke the WMA/75, WMA/85 and the resistance line at 14,590.
The RSI indicator shows that the price is already in the overbought area, however the MACD indicator shows that the current trend is in a positive phase. A correction in USDT will test the 14,750 price level, if broken will test the next support level at 14,660.
5 Bearish Crypto Assets
This crypto assets, It had crossed the EMA/200 line but went back down and experienced a correction ever since, because the price was unable to cross the resistance line at 4,000 – 4,010 price levels.
A strengthening will test the nearest resistance level at 2,500, a break of this price level will make CTSI move sideways in the price range of 2,510 – 3,155. The MACD indicator shows when in the histogram area, it is in a positive direction, because the correction in Cartesi (CTSI) has occurred quite deep and requires a fairly high strengthening.
The decline has occurred since December 31, 2021, evidenced by the price failure to stay above the EMA/200, WMA/75 and WMA/85 which made Ren (REN) enter a bearish phase.
The use of a 1-day time frame indicates that REN has touched the oversold area in the RSI Indicator because the price correction has gone too deep, caused by the current REN price touching the lowest level on Indodax. A change in the direction of the trend will occur if it can test the resistance line at the range of 3,200 – 3,270. If this level is broken it will test the next price which is at 3,980 level.
On April 22nd, 2022, the price was above the EMA/200 and was about to change trend from the Bearish to Bullish phase, but this was not confirmed because the price was unable to break the strong resistance level at 4,110,000 and continued having a fairly deep correction. The current XMR price is the lowest since November 27, 2020. A better trend direction will occur, if it was able to break through 2,014,300.
Stellar Lumens (XLM)
Stellar Lumens (XLM) price was unable to stay above the 4.650 support line which made XLM in a bearish phase. After entering the Bearish phase, the weakening continued until it broke the next strong support level at 3,700 and 3,400, causing XLM price to fall deep enough to touch the lowest price since November 20th, 2020.
It had touched the oversold zone level on the RSI indicator in the 1-day time frame and was strengthening, but the price continued to weaken and penetrated the 1,800 support level. There was a fairly strong resistance line at 2.175 but breaking this level requires further confirmation.
It reached its highest price on 04 May 2021 to the level of 10,950. After that the DOGE experienced a drastic fall in price. This weakening made Dogecoin in a continuous downtrend phase, which had started since December 7, 2021 and the current price is the lowest since February 2021.
The 1-day time chart showed that the MACD indicator and the histogram were in the negative sideways trend so that it required further confirmation for the direction of the trend.
The nearest resistance level is at 1.140, this level must be broken to confirm the reversal direction of DOGE, if this price level is broken then the next price will test 1.360 level.
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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