This time, Indodax Market Signal features 5 bullish crypto assets and 5 bearish crypto assets this week. Check out the following reviews.
Since the middle of last week, many crypto assets have seen price drops. This is because Bitcoin recorded a quite deep decline. Bitcoin usually affects the decline in altcoins as well.
After several weeks of sideways at Rp. 800 million-Rp. 850 million, Bitcoin then dropped below Rp. 700 million. Altcoins like Ethereum (ETH) were also recorded to have dropped from a high of Rp. 60 million to almost past Rp. 50 million.
Until now, it is still unknown what caused the decline in Bitcoin. Although, many media wrote that this happened because of Elon Musk’s statement on Twitter.
Meanwhile, Dogecoin still remained at the Rp. 6,000 and Rp. 7,000. This crypto asset cannot be predicted whether it will survive, increase or even decrease.
However, there are still other crypto assets that recorded increases or are bullish this week. Anything?
5 Bullish Crypto Assets This Week
- Cardano (ADA)
First, a bullish crypto asset is Cardano (ADA). This crypto has upgraded its platform a lot. They also stated that they would be ready to play on DeFi and also NFT.
ADA price has the potential or most likely to increase this week, after breaking the IDR 35,000.
ADA is moving today with the lowest price of IDR 31,045 and the highest price of IDR 36,605.
- Polygon (MATIC)
Second, a bullish crypto asset is Polygon (MATIC). This crypto had gained 20% in one day at the end of last week.
Polygon (formerly Matic Network) is the first well-structured and easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is the Polygon SDK, a flexible and modular framework that supports the creation of a wide variety of applications.
Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other type of infra required by the developer.
MATIC’s lowest price today is IDR 22,611 and the highest is IDR27,068.
- Yearn.Finance (YFI)
Third, the crypto asset that is bullish is yEarn.Finance (YFI). This crypto is a crypto that is more expensive than Bitcoin. Several times, this position has occurred frequently, starting from last year.
This crypto asset is a crypto asset that has increased through Rp1 billion.
YFI is a DeFi crypto asset which only has a supply or supply of around 3,666 tokens. This crypto is sparse and difficult to build, so it stands on its strength and distrust as the platform itself.
Today, YFI’s lowest price is IDR 910,103,737 and the highest is IDR 1,055,737.
- AAVE (AAVE)
Next, there is AAVE which will be bullish this week. Aave describes itself as a decentralized, open-source, non-custodial financial market protocol.
Depositors earn interest by providing liquidity to the lending pool, while borrowers obtain excess collateralized loans from this liquidity pool.
Deposits are marked as tokens, which earn interest in real-time. “Aave” is the Finnish word for “ghost”. The ghost represents Aave’s focus on creating a transparent and open infrastructure for decentralized finance.
In today’s trading, AAVE’s lowest price is IDR and the lowest is IDR 7,257,999 and the highest is IDR 8,365,350.
- Stellar Lumens (XLM)
Finally, the crypto asset that is bullish this week is Stellar Lumens (XLM). This crypto still strengthened to a price of IDR 11 million last week. This is the highest level.
XLM again touched Rp. 10 million, slightly decreased. However, possibly, the XLM crypto asset will still be bullish this week.
Today, XLM’s lowest price is Rp.10,140 and the highest price is Rp.11,800
Here Are 5 Bearish Crypto Assets This Week
First, there is Bitcoin which has experienced a drastic decline. Bitcoin has still not been able to experience an increase in price to the highest price of IDR 950 million. However, it actually decreased.
It is not yet certain why BTC has dropped dramatically to the level of Rp. 600 million. Although, many media write that this is because of Elon Musk’s statement. Within this week, BTC will still experience a decline in price
As of today, the Ethereum price is at the lowest level of Rp.837,000,000 and the highest price is Rp865,000,000.
- Basic Attention Token (BAT)
Second, the crypto asset that is bearish this week is BAT. The Basic Attention Token, or BAT, is a token that powers a new blockchain-based digital advertising platform designed to reward users fairly for their attention, while giving advertisers a better return on their ad spend.
It seems, the decline that started last week resumed this week. Today, BAT is moving with the lowest price of Rp16,301 and the highest price is Rp18,392.
- Filecoin (FIL)
Third, there is the crypto asset FIlecoin (FIL) which may drop this week. This crypto is indeed devoid of enthusiasts. Often times it has decreased. This may be because there has been no technology upgrade from this crypto.
Filecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project raised $ 205 million in an initial coin offering (ICO) in 2017.
Initially planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back to block 148,888, expected to be in mid-October 2020.
FIL’s lowest price is IDR 1,550,000 today. Meanwhile, the highest price is Rp1,727,900.
- Theta (THETA)
Next is THETA which will drop this week. Theta is a decentralized network of video streaming games platforms. In the future, this platform will create an NFT platform and will be upgraded.
Even so, it seems that THETA is also showing a decline in prices. It could be because Bitcoin is down.
Today, THETA is moving at the lowest level of Rp134,100 and the highest price of Rp155,000.
- NEM (XEM)
Finally, the crypto asset that has experienced a decline is NEM (XEM) this week. Apparently, this crypto is also experiencing a decline due to Bitcoin and has not upgraded yet.
XEM sold for the lowest IDR4241 in today’s trading. Meanwhile, the highest price reached IDR 4845.
NOTE: If EMA 5 crosses the WMA 75, 85 and EMA 200 lines and these lines intersect from bottom to top, the market trend tends to go up (bullish),
In each table above, it shows that if the value of EMA 5 is higher than WMA 75.85 and EMA 200 then the market tends to rise (bullish).
If the RSI and MACD values ??show the same condition, it means that the market is showing the same trend, overbought conditions or oversold conditions are an indicator that the market is at a 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 contained on this website, is only used as trading information only, and does not constitute a suggestion or suggestion to take an action in a transaction whether to buy or sell certain crypto assets. All crypto asset trading decisions are independent decisions by the user. Therefore, all risks arising from it, both profit and loss, are not the responsibility of Indodax.