Quant is in a bullish trend position. Want to know what crypto assets are indicated to be bullish and bearish this week? Come on, read more!
5 Bullish Crypto Assets
The strengthening of QNT has occurred since September 08, 2022, EMA/5 moved strongly through WMA/75 and WMA/85, but this was also supported by the price being able to break the 1,500,000 level and then rise to the 1,600,000 price level. It had touched the price of 1,872,000 but could not go higher and corrected back to 1,680,000.
In the trend, the Candle can still stay above the EMA/200, which indicates that the price still has a chance to strengthen. Strength will test the 1,900,000 level.
The MACD indicator on the 4 Hours chart is in the positive area. This phase will be depressed if the Selling side dominates over the Buy side. The Support area is in the range of 1,600,000 – 1,640,000.
Despite being on the Bullish CAKE line several times, testing the EMA/200, and even breaking the line, the Candle immediately strengthened again because the trend movement was pushing a relatively strong Support level of around 60,000. The price will move quite wide or fluctuate. This is illustrated by the Bollinger Bands indicator, which shows a widening in its range. Strengthening will lead to a resistance level in the price range of 71,000 – 75,000. If this level is broken, the opportunity to stay in the Bullish trend for a more extended period will be wide open.
Breaking the Resistance level at 745,000 makes the potential for a trend reversal from Bearish to Bullish even greater. When the Candle can form above the price of 800,000, it confirms that the Compound is entering a Bullish phase.
The current Bullish trend can be broken if the price weakens to break through several Support levels, such as the price range of 875,000 – 880,000 and making a complete candle below the cost of 750,000.
Since entering the Uptrend zone on September 21, ALGO has strengthened to 20%. There will be a continuous strengthening if the trend can break the short-term resistance level in the range of 6,025 – 6,110.
The MACD indicator shows that if the trend is in a negative direction but with limited movement, the closest Support level range is 5,390 – 5,540. A break of this level will open an indication to test the 5,180 price level.
The time frame chart using 1 day shows that USDC has had a continuous positive trend since April 27, 2022, because the candle or EMA/5 formed is above WMA/75 and WMA.85. Strengthening will try to break through the price level of 15,070 – 15,100. Candles that can include past this level will form a new direction of the USDC movement.
The MACD indicator is on a positive path. Being able to hold above the 14.745 level will strengthen the USDC position, but the closest Support levels are at 14,815 – 14,845.
5 Bearish Crypto Assets
The chart with a 4-hour time frame shows that BTC has been in the Downtrend zone since August 23, 2022. On September 09, 2022, the candle had broken out and held above the EMA/200. Still, due to heavy selling pressure, the RSI indicator was already in the Overbought area then BTC unable to continue strengthening and weakening to continue the Bearish trend.
The Bearish trend will continue to weaken if BTC cannot break the level of 292,000,000 – 296,000,000. BTC’s Support level is at 283,000,000. If this Support is broken, the price will test the level of 280,000,000 – 276,000,000. If this level is broken, it will open an opportunity to create a new trend in the Downtrend Channel.
Synthetix Network Token (SNX)
SNX was able to break through WMA/75 and WMA/85 and had time to test the EMA/200, but this was not followed by a candle that could not break out of the resistance line in the range of 64,000 – 66,000. Synthetix Network Token weakened following the Bearish trend that occurred.
The MACD indicator on the 1-Day time frame is narrowing, which indicates the trend is on the Downtrend Sideways in the range of 34,000 – 39,000.
Curve DAO Token (CRV)
CRV has been in a Bearish phase since August 20, 2022, when the trend could not hold above the 19,000 level, then the price weakened quite profoundly to the range of 27%. The MACD indicator is positive, but this is quite reasonable, considering the price has been corrected quite profoundly. Price improvement will occur if the chart can break through 14,750 and then try to reach 15,670.
Ethereum Classic (ETC)
Candle’s inability to stay above the Support level of 49,000 – 50,500 made ETC enter a new phase, namely Bearish. In the chart using the 4 Hours time frame, it can be indicated if the current trend is in the Bearish Sideways. This line with the Bollinger Bands indicator where the area is narrowing estimates the price will move between 415,000 – 442,000.
The confirmation of Ergo in the Bearish zone is inseparable from the break of the EMA/200. This is also followed by weakening WMA/75 and WMA/85. The RSI indicator indicates if the current direction takes more time to confirm the order of the next price movement.
The MACD indicator indicates that the price is in a positive direction. Still, currently, the price is more directed to the Sideways side, where the price will move more limited to around 41,000 – 46,000. Candles that can form on one of these lines will determine the direction of the next price movement.
NOTE: If the EMA 5 crosses the WMA 75, 85, and 200 EMA lines and the lines intersect from the bottom up, then the market trend tends to be bullish (bullish),
in each table above, if the value of EMA 5 is higher than WMA 75.85 and EMA 200, the market tends to go up (bullish).