Happy Monday! Have you bought BTC this week? According to the existing technical analysis, if BTC can return to $41,000 for support, XRP, NEAR, XMR, and WAVES can experience a price increase! Let’s see if BTC can return. Read more here!
5 Bullish Crypto Assets
Waves (WAVES) moved positively and the price rose sharply to 300,000. The moving average has completed a bullish crossover and the RSI is in the overbought zone, indicating that the bulls have the upper hand.
The bears pose a tough challenge near 245,000, but the plus point is that the bulls haven’t given up and the price hasn’t dropped back below 230,000. If the price rises from the current level, it will indicate that demand is still strong and is not too affected by the current declining BTC price. The price of WAVES will increase the chances of a retest of the 300,000 resistance.
If the bulls push and hold the price above 270,000, the WAVES/IDR pair could pick up momentum and rally towards 280,000 and then 300,000. This positive view will be invalidated in the short term if the bears withdraw and hold the pair below 230,000.
Contrary to this assumption, if the price drops from the current levels and breaks below the average EMA/200 day, this would indicate that short-term traders may be rushing out. It could attract pairs to 200,000 and then 150,000.
Co-founded by Chris Kang, Jeffrey Jin, and Peter Kim, MovieBloc is a reverse ICO project driven by Korean video streaming platform Pandora.tv. MovieBloc is a decentralized film and content distribution platform.
Monero (XMR) has corrected, and is in the lower band at 2,238,131. The price rose to 2,466,139 to 2,552,859. But the price was not able to go higher and is experiencing a correction at the current support at 2.2 million.
This has resulted in a consolidation of between 2,230,000 and 2,500,000 over the last few days. The RSI is at 40, indicating a balance between supply and demand.
This balance will shift towards the buyers if they push and hold the price above 2,400,000. By having a target target of 2,500,000. However, the upward rally is unlikely to be easy as the bears are expected to put up a strong hold at the 2,500,000 resistance line.
Contrary to this assumption, if the price drops and slips below 2.2 million, the bears will try to pull the XMR/IDR pair down to 1.8 million – 2 million. If the price drops and slips below 2.2 million, the short term trend could turn in favor of the bears.
Conversely, a close above the descending trend line could increase the prospects for a possible rise to the resistance at 2.5M.
Zcash was founded in 2016 by cypherpunk, computer security expert and entrepreneur Zooko Wilcox-O’Hearn. He is also the founder of the non-profit Electronic Coin Company (ECC), which manages the development of Zcash.
Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses zk-SNARK’s zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.
Sumokoin managed to rise 50.13% in the last 24 hours on several foreign exchanges, while Indodax reached 41%. CoinMarketCap’s current rating is #1479, with an immediate market cap of $1,900,127 USD and has an outstanding supply of 42,665,378 SUMO and max. supply 88,888,888 SUMO.
5 Bearish Crypto Assets
Uniswap is a popular decentralized trading protocol, known for its role in facilitating the automated trading of decentralized financial tokens ( DeFi ). Uniswap is down 7.97% in the last 24 hours. CoinMarketCap’s current rating is #26, with an immediate market cap of $5,669,107,629 USD and has an outstanding supply of 687,180,113 UNI and max. supply 1,000,000,000 UNI.
Fantom (FTM) has been trading in a large range between 19245 and 29514 over the past few months. The price rebounded sharply from the range support on February 24 at the 19333 price level then rose up to 25619 at the beginning of March 1, indicating that bulls continue to buy at this level.
The downtrend continued when the price reached the resistance at 29514, bears dominated selling and the price corrected to the point at 19600. The RSI seems to be in the oversold area, if it can’t bounce up from this level. The correction will occur again to the level of 19,200.
Stani Kulechov, founder and chief operating officer at Aave (AAVE) – an open-source DeFi protocol that allows people to lend and borrow cryptocurrencies. – told Cointelegraph that although social tokens are still very new, in the future the crypto sector could look to social tokens.
Aave is down 7.38% in the last 24 hours. CoinMarketCap’s current rating is #55, with an immediate market cap of $1,563,298,537 USD and has an outstanding supply of 13,631,081 AAVE and max. supply 16,000,000 AAVE.
Filecoin is a decentralized storage system that aims to “store mankind’s most important information.” The project raised $205 million in initial coin offering (ICO) in 2017, and originally planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back to block 148,888, which was expected to be mid-October 2020.
The project was first described in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. Filecoin is an open and blockchain-powered protocol that records commitments made by network participants, with transactions made using FIL, the blockchain’s native currency. Blockchain is based on proof-of-replication and proof-of-spacetime.
Filecoin is down 5.83% in the last 24 hours. CoinMarketCap’s current rating is #39, with an immediate market cap of $3,110,628,092 USD and has an outstanding supply of 173,161,471 FIL and max. supply is not available.
Bitcoin (BTC) broke below its moving average/25 MA on March 4 at 582,729,760. Indicates that the bears are aggressive and trying to lower the price. Bulls tried to push prices back on March 5 and 6, but prices failed to bounce up.
If the price holds below its moving average/25 MA, the bears will try to pull the BTC/IDR pair to the next support line at 532,926,814. If the price manages to rebound strongly from this support. In the short term the price will rise to the level of 584,540,347.
This short term bearish view will invalidate if the price rises from current levels and breaks above the 25-day moving average (582,729,760). That would indicate strong buying at lower levels. The bulls will then try to push the price towards the channel’s resistance line. The next trend movement is likely to start once the pair breaks above the 25-MA.
The 200 EMA on the 4 hours chart has dropped and the relative strength index (RSI) is in the negative zone, indicating that the bears have the upper hand. If the price breaks below 541 million, the pair may drop to 540 million and then to 505 million.
Contrary to this assumption, if the price rises from the current levels and rises above the EMA/200 on the 4-hour chart, it will suggest strong buying at lower levels. The bullish momentum could increase once the pair breaks and could open doors for a possible rally above 580 million.
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.
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