Hello INDODAX members! Currently, in the second week of May 2023, there is a bullish trend taking place in the crypto asset market, especially in Tron (TRX) and T-mac (DAO).
This condition provides promising profit opportunities for smart traders.
Do not want to miss the opportunity to make a profit? You can get complete information about the bullish and bearish trends in crypto assets this week via INDODAX Market Signal.
By reading the information in the article, you will get the latest information about market conditions and be able to make the right trading decisions.
5 Bullish Crypto Assets
1. Tron (TRX)
Weakened, but this was followed by a trend that did not pass the EMA/200 so that the momentum to strengthen again was wide open.
If you are able to successfully pass the resistance area in the range 1.060 – 1.100 then the bullish trend for Tron (Tron to IDR) will get stronger.
2. T-mac DAO (TMG)
The trend is in the Overbought zone on the RSI indicator, failed to Break Resistance levels 107,000 – 117,000 so that TMG experienced a significant correction after touching 116,000, the Bullish trend will be suppressed again if T-mac DAO is unable to strengthen again to test the 86,000 area – 93,600.
3. Wrapped NXM (WNXM) Coin
February 26, 2023 and staying above the 250,000 – 280,000 zone indicates that WNXM Coin has succeeded in moving from a Bearish phase to a Bullish phase.
If there is a strengthening that is massive enough to be able to break the resistance zone which is quite dominant in the range 681,000 – 781,000 it will be indicated that the uptrend position will get stronger.
4. Swipe (SXP) Coin
High enough strengthening made SXP coin successful to Break Resistance levels 5,500 – 5,880 and Candles with full shapes formed above EMA/200 which ensured the Bullish trend was on Swipe.
The price is currently undergoing a correction, after the RSI indicator illustrates that the price is in the Overbought area and is marked as touching the 14,000 level.
The weakening of the trend will try to test the 6,600 – 7,300 area which if this level is passed then the negative momentum will be quite strong on the Swipe.
5. ABBC Coin (ABBC)
After being able to penetrate the EMA/200 the Bullish trend of ABBC Coin (ABBC to IDR) was getting stronger, the price which was the previous resistance level at 1,330 – 1,420 could be passed so that positive momentum was in the 4-hour trend of ABBC Coin.
Strengthening the ABBC price that occurs will have a resistance level in the range of 1,600 – 1,660.
5 Bearish Crypto Assets
1. SushiSwap (SUSHI) Coin
The quite deep decline was shown by SUSHI coin (Sushi to IDR) where since being in the Downtrend phase on 29 November 2021, SushiSwap has weakened to around 70%.
The current SUSHI coin trend using the MACD indicator is in a negative phase with a negative histogram, if SushiSwap is unable to hold above 13,000 – 14,500.
2. Solana Coin (SOL)
On the 4-hour time frame, the Bollinger Bands indicator indicates that the current price (Solana to IDR) is in the Sideways Bearish zone with a range of price movements in the area of 265,000 – 397,000 with the assumption that if one of the levels is passed then a new trend direction will be formed.
3. Duckie Land (MMETA) Coin
The price will be repaired if it is able to pass the 300 level.
4. Coti (COTI) Coin
Penetrating EMA/200, but this strengthening is only temporary after the RSI indicator indicates that the COTI coin price is already in the Overbought area so that the price is unable to continue strengthening again.
COTI coin weakening will try to test the strength of the support area 970 – 1,080.
5. Ren (REN) Coin
The downtrend phase that is currently happening on the REN coin will be able to fail to continue if the Candle is able to pass through the 1,530 – 1,600 level then it must also be followed by a Candle that moves stronger above WMA/85.
Thus the latest update from the 08 May 2023 edition of INDODAX Market Signal. With the information provided, it is hoped that traders can make more informed decisions and seize profit opportunities in the crypto asset market.
Keep following updates from INDODAX Market Signal to get the latest information about the crypto asset market. Happy trading!
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), in each table above it shows if the EMA 5 value is higher than WMA 75, 85 and EMA 200, the market tends to rise (bullish).
If the RSI and MACD values show the same condition, the market is showing the same trend; the situation is overbought (overbought) or oversold (oversold), which indicates that the market is at a trading point in an anti-trend direction.
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All crypto asset trading decisions are independent decisions by users. Therefore, all risks arising from it, both profit and loss, are not the responsibility of INDODAX.