Last week, Indodax Market Signal listed MBL, WAVES, and ZEC as 3 bullish crypto assets. This week, this is evidenced by their persistence in the Bullish crypto-asset line. Have you taken benefit from these 3 crypto assets?
5 Bullish Crypto Assets
In the last 24 hours when this article was written, MBL experienced a price increase of up to 74% on the Indodax market, namely as low as Rp. 102 and as high as Rp. 218. The price rose again early this morning to level 218, repeating the previous resistance at this level on March 7 then, the MBL/IDR pair could create a new support pattern at 190 – 200 levels if the price is able to hold on to these levels. The RSI is already in the overbought area, the 4 hours chart shows the price may be corrected, the closest support is at 150 – 160.
WAVES added more than 80% of its value over the past week, thanks to the ongoing transition of the Waves platform to version 2.0, a bullish partnership with Allbridge that will ensure cross-chain interoperability, and news of the launch of Waves Labs, a $150 million fund that will support the project’s growth in the US market. On March 9, WAVES, the token price jumped from around 316K to over 435K in less than a day, triggering a corresponding increase in trading volume. Even as the liquidity wave subsided, price action remained strong, now the price is moving above the EMA/200 average, price support is at 355K, resistance is at 415K – 435K.
Other than WAVES, Achain is a public blockchain platform that allows developers of all levels to issue tokens, create smart contracts, build decentralized applications and blockchain systems. Achain is committed to building a global blockchain network for the exchange of information and value transactions. The crypto asset of the platform is called ACT. The price on the Indodax market rose 12% in the last 24 hours, from IDR 78 to IDR 100.
Zcash (ZEC) broke and closed above the 1.8 million resistance on March 8. This was followed by a break above the 85-day WMA on March 10, signaling that the bulls are back on track.
The bears are currently trying to pull the price back below the day-to-day 25 MA and challenge the 2 million break level. This is an important level for bulls to defend as a break below it could indicate that the recent break may be a trap. The ZEC/IDR pair could then drop to the 85-day WMA (1.9M).
If the price rebounds from the current level or 2.2 million, it will indicate that sentiment remains positive and traders buy on the downside. The bulls will then try to push the pair above 2.2 million and resume gains. The next target is above the previous resistance, at the levels of 2,280,000 – 2,300,000.
Contrary to this assumption, if the price drops and slips below 2 million, selling could pick up momentum. The pair could then drop to the support area of ??1.8 million – 1.9 million.
Firo (FIRO), formerly known as Zcoin, is a cryptocurrency focused on personal digital money. It created the Lelantus privacy protocol that allows users to burn their coins and redeem them later for new ones that have no transaction history. What makes FIRO a hot topic of discussion, when this article was written, the price of FIRO on the Indodax market rose 12% from IDR 53,000 to the highest price of IDR 69,100.
5 Bearish Crypto Assets
Velo Labs is building a unique federation credit exchange network. The network is powered by the Velo Protocol, which is a blockchain finance protocol that enables digital credit issuance and seamless asset transfer for businesses using a smart contract system. CoinMarketCap’s current rating is #589, with an immediate market cap of $36,238,004 USD. It has an outstanding supply of 947,050,097 VELO and max. supply of 30,000,000,000 VELO.
Algorand is a blockchain created by several experts in cryptography, with high TPS, low network costs, and no history of downtime. Its adoption metrics show a slow but steady pace. Mainnet Algorand became active in June 2019, and was able to handle nearly 1 million transactions per day in December 2020.
CoinMarketCap’s current rating is #29, with an immediate market cap of $4,503,954,678 USD and has an outstanding supply of 6,627,019,702 ALGO and max. supply of 100,000,000,000 ALGO.
Theta (THETA) is a blockchain powered network built specifically for video streaming. Launched in March 2019, Theta mainnet operates as a decentralized network where users share bandwidth and computing resources on a peer-to-peer (P2P) basis. The project was suggested by Steve Chen, co-founder of YouTube and Justin Kan, co-founder of Twitch.
CoinMarketCap’s current rating is #45, with an immediate market cap of $2,709,243,757 USD and has an outstanding supply of 1,000,000,000 THETA and max. supply of 1,000,000,000 THETA.
Neo is a “growing and evolving” ecosystem that aims to be the foundation for the next generation of internet — a new economy where payments, identities and digital assets come together. CoinMarketCap’s current rating is #67, with an immediate market cap of $1,340,114,920 USD and has an outstanding supply of 70,538,831 NEO and max. supply 100,000,000 NEO.
ETH is considered to have expensive transaction fees, therefore, there are many Blockchain projects that want to be a solution for the Ethereum network. Even though it already has ETH 2.0 , the price has decreased.
Well, when the price of crypto assets like Ethereum goes down, the opportunity to make a benefit does seem more difficult. Therefore, there is a crypto innovation called Short Token , so that traders can still get the benefit even when the market is bearish!
Short Token is a term for crypto assets that are traded in the futures market , where when the price of the asset drops, the trader can still make a benefit. This is because in the world of the futures market , traders can put a number or price below the current price, and make a benefit when the price hits that number!
Currently, Short Tokens such as Short Ethereum Tokens or ETHHEDGE can be traded on the spot market , such as Indodax.
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 bullish (bullish), in each table above it shows that the EMA 5 value is higher than WMA 75, 85 and 200 EMA then 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 (overbought) or oversold (oversold) conditions are an indicator that the market is already at the point of changing the direction of the trend.
ATTENTION: All content which includes text, analysis, predictions, images in the form of graphics and charts, as well as news published on this website, is only used as trading information, and is not a recommendation or suggestion to take an action in transacting either buying or selling. certain crypto assets. All crypto asset trading decisions are independent decisions by the user. Therefore, all risks arising from it, both benefit and loss, are not the responsibility of Indodax.