Market Signal Indodax! After the ups and downs of crypto assets in May 2022, have you taken profit from the market rebound yet? Let’s find out more about Bearish and Bullish and as a reference in determining which crypto assets you can buy or sell!
5 Bullish Crypto Assets
The beginning of the upward trend in the WEMIX price started on May 21, 2022, when the price was able to break through the EMA/200 line and break the resistance line at the price level of 39,990 – 39.995.
The EMA/200 at the price level of 43.950 indicates that the trend is still in the Bullish phase. If it weakens, it will test the 45,450 price level.
The Bullish trend will be broken if there is a weakening that break the strong support level at 39.995 which will make WEMIX (WEMIX) return to its initial price and move in a more limited range.
The rising trend of the Eminer (EM) was initiated by a significant price increase which made the price hike high enough to penetrate the EMA/200 line, this occurred on May 18, 2022, causing the trend to turn into Bullish which is confirmed after breaking the resistance line at the price of 28 .
In the use of the 4-hour time frame, it shows that the MACD indicator is in a negative area or downside as the RSI indicator has touched the Overbought area.
Lyfe Gold (LGOLD)
The price increase experienced by Lyfe Gold (LGOLD) began on March 9, 2022 where in a significant time the price experienced a fairly high rise, which ensured that a breakout occurred in the 780,100 price range.
Seeing the form of a candle, there are many wicks, both rising and falling, this indicates that the price of Lyfe Gold (LGOLD) could change dramatically, so you must be careful in placing buy and sell orders, for example LGOLD at one point touched the price of 947,870 which is the highest price since October 23, 2021.
Pax Dollar (USDP)
Using 1-day time frame to see the shape of the candle, which is quite often dominated by candles with a large body shape and there are also wicks that appear in the candle lately, which means that transactions that occur in USDP are quite static and move within a wide range, quite narrow.
When combining Bollinger Bands, it is seen that the range between the two lines is widening, which indicates that the trend is no longer moving sideways. The RSI indicator should wait more time for further confirmation of the direction of the trend movement.
The support level is at the level of the 14,090-price range, which if penetrated, it will test the next support, which is in the 13,690-price range.
1X Short XRP Token (XRPHEDGE)
The uptrend phase begins with the break of the EMA/200 on April 26, 2022 and also the breakout of the resistance level at the price of 697,500, which makes the trend increase slowly to date. This increase is also inseparable from the decline that occurred in the XRP coin.
The next increase will test the price level of 1,133,360 with a break of that level and the formation of a full candle will also cause XRPHEDGE to form a new resistance level. The weakness will test the nearest price level, which is at the 940,000 price range.
Market Signal Indodax 5 Bearish Crypto Assets
The downward trend chart begins with the break of the EMA/200 on April 06, 2022 where the break of the EMA/200 is followed by the form of a full body candle, which indicates that the selling pressure was quite high at that time, trying to break the resistance level at 1,875,650 but failed to penetrate and instead experienced a weakening. The price goes down ensuring it enters the Bearish zone.
Several times it tried to break the EMA/200 and also pass the price level of 1,573,170, but was unable to breakout so the trend was corrected instead. It will test the nearest price at the level of 818.240, if it strengthens it will test the price of 1.159,000.
The downward trend that occurred briefly made Tezos (XTZ) touched the price level of 21,835, which is the lowest price since September 20, 2021. After hitting that price, the price reversed its direction, strengthened, and tried to test the EMA/200 indicator which was at 49.140.
If you look at the trend using a 4-hour time frame, the trend tried to break through the EMA/200 several times but to no avail, there was a resistance level at around 33,000. Experiencing a weakening would test the 24,000-price level, if penetrated, it will test a fairly strong support level at 21,835.
The weakening of the trend has occurred since April 6, 2022, where it was initiated by the break of the support level at the price range of 2,198,400 after breaking the support level several times trying to breakout upwards but to no avail, and instead of breaking through the next support level, at the price range of 2,030,150, which makes saffron.finance (SFI) weaken further in a bearish phase.
An increase and improvement of the trend will occur if it can penetrate and breakout the resistance at the price level of 1,201,300.
In the 1-Day chart, it is indicated that the decline has started on December 22, 2021, when the price breaks the support level at 11,000. Several times, the trend chart tried to break the resistance at the price level of 11,000, but the price was unable to penetrate that level and continued to weaken and entered the bearish phase.
The indicators such as the RSI indicator show that the chart has entered the oversold area several times, and the MACD indicator shows a positive signal which is in line with the weakening that caused Glitch (GLCH) to touch the lowest level at the 1.230 price range.
It started with a weakening that made the trend break through the EMA/200, and unable to breakout the resistance level at 15,250, and the support level at 14,700 was broken, which indicates a strong downtrend trend.
The use of indicators used to confirm the direction of the trend such as the RSI indicator shows a positive signal because it has touched the oversold area, which is currently reversing direction and so is the MACD indicator which shows the positive side in line with the RSI.
The trend improvement will occur if ADA can penetrate the price of 8.965. If it failed to penetrate that price level, it will move sideways. The immediate support area is at the 6.520 price 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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