This week, the bullish crypto lineup is led by Tokenomy (TEN) in first place, followed by Sui (SUI) and VELO (VELO).

 

Want to know how your favorite crypto asset is performing? Check INDODAX Market Signal below!

 

5 Bullish Crypto Assets

 

1. Tokenomy (TEN)

On May 21, 2024, Tokenomy (TEN) touched a price of 880 which is the highest price of Tokenomy (TEN) since 2022, this increase also indicates that the Bullish trend has a positive impact on the price change of Tokenomy (TEN).

The trend experienced a correction after being indicated by the RSI indicator to be in the Oversold area, by staying above the EMA/200 the Bullish trend has a considerable opportunity to continue.

 

2. Sui (SUI) 

Based on the Sui (SUI) chart using the 4-hour time frame, it is known that there has been a weakening of the trend and the Bullish could not continue, but the Bearish phase did not last long because the Support did not manage to break the 11,500 – 13,000 area where this had a positive impact on the price of Sui (SUI) which increased.

 

3. VELO (VELO)

The Bullish Trend is still indicated to be happening on VELO (VELO), the trend is expected to switch to Bearish if the EMA/200 can be broken followed by several Supports being passed such as the 200 – 220 area and which is quite crucial around the 170 – 195 area.

 

4. Alpaca Finance (ALPACA) 

If Alpaca Finance (ALPACA) continues to show price weakness, Alpaca Finance (ALPACA) has a support level in the price range of 2,300 – 2,400 if this support is also broken, it will test the next price level at 1,700 – 2,200.

 

5. Digix Gold Token (DGX)

The opportunity for Digix Gold Token (DGX) to return to the Bearish path is quite wide open, with the MACD Indicator still showing a negative trend that has not intersected upwards, but if the Candle can form above the 1,000,000 level it is estimated that this will not be realized.

 

5 Bearish Crypto Assets

 

1. USDT (USDT) 

USDT (USDT) has just entered a downtrend phase since September 05, 2024 which is marked by the appearance of a candle shape with a body below Support 16,000 – 16,150. This phase can be seen with the 4H time frame. If there is a decline again, it will test the price level of 15,200 to 15,280 where this is the lowest price level in August 2023.

 

2. TWELVE ZODIAC (TWELVE) 

When viewed with indicators used such as the MACD indicator indicates that the trend is in a negative phase, with the direction of price movement still moving in the Bearish phase. Prices continued to decline after the Bearish phase occurred on April 11, 2024, prices fell by more than 75%.

 

3. cat in a dogs world (MEW) 

When looking at the MACD indicator, the decline in the price of cat in a dogs world (MEW) has had time to make the negative trend line weaker, indicating that negative momentum dominates in the price change of cat in a dogs world (MEW). Strengthening the price will test the price of 65 – 67 if the price is broken then it will test the next level 70 – 75.

 

4. HedgeTrade (HEDG) 

Moving the trend below the WMA / 85 further makes the price of HedgeTrade (HEDG) experience a correction if HedgeTrade (HEDG) is unable to move above the 150 – 190 area will increase the chances of touching its lowest price.

 

5. Filecoin (FIL) 

With the 4H time frame it can be seen that the price movement of Filecoin (FIL) is moving below the WMA/75 with a chance to weaken quite large, but strengthening will be created if the 65,000 – 75,000 area can be broken which will allow prices to move above the WMA/75.

 

NOTES:

If the EMA 5, crosses the WMA 75, 85 and EMA 200 lines, and the lines intersect from bottom to top, then the market trend is upward (bullish).

 

Each table above shows that if, the value of EMA 5 is higher than WMA 75, 85 and EMA 200, then the market is trending 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 one indicator that the market is at the point of changing the direction of the trend.

 

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