Hello, loyal INDODAX crypto traders! Welcome to October 2023! This week, Worldcoin (WLD) occupies the top position of bullish crypto assets, followed by Wrapped (WNXM) coin in second place.
So, if you want to be clearer about which crypto assets have bullish and bearish indications, don’t worry! Let’s take a look at the latest INDODAX market signal in full below!
5 Bullish crypto assets
1. Worldcoin (WLD)
The use of a 4-hour time frame indicates that Worldcoin is already in the bullish zone starting September 23, 2023. The trend is moving in line with WMA/85, indicating a signal of strengthening is quite wide open. The trend will try to penetrate the 32,000–35,000 level. With this indication, the potential for Worldcoin prices to touch the highest level will be quite a big opportunity.
2. Wrapped NXM (WNXM) Coin
Looking at the price movements that occur on WNXM (WNMX to IDR) shows that the trend is in the uptrend phase. This has been happening since March 9, 2023, with prices strengthening by more than 50%. If a candle is able to form above the price of $600,000, it will indicate that the bullish trend is getting stronger and will continue.
3. Bakery Token (BAKE)
The strengthening price of BAKE is in line with the MACD indicator, which has shown a positive crossover, and has an impact on the trend, which has managed to stay above the EMA/200. Weakening will test the strength of the support level 1,700–1,800. Breaking this area will increase the indication for a break of WMA/75.
4. Injective (INJ) Token
INJ token is able to continue the bullish trend; negative pressure is able to hold back INJ prices (INJ to IDR), but if the trend is able to pass the price of 120,000–133,000, then positive momentum will support Injective to strengthen.
5. Origin Protocol (OGN)
The strengthening that occurred in the OGN coin was inseparable from the candle, which was able to stay above WMA/85. This was followed by the formation of a dominant support level in the price range of 1,110 to 1,300. The price of Origin Protocol is expected to continue strengthening if a candle is able to form above the 2,300–2,650 level.
5 Bearish Crypto Assets
1. HedgeTrade (HEDG) Coin
If you look at the 4-hour chart, it is indicated that the HEDG coin has experienced a decline of up to 30% since August 19, 2023. HedgeTrade will be able to correct the weakening HedgeTrade price if it is able to penetrate the price of 480–530, with an estimate that WMA/75 will also be passed.
2. STEPN (GMT) Coin
The MACD indicator estimates that GMT coin is on a positive path, but the STEPN price does not show the same thing because the Bollinger Bands show a range of price changes that leads to a decline. GMT experienced limited movement in the range of 2,200–2,700.
3. Metars Genesi (MRS) Coin
Metars Genesi is still in the sideways zone with a movement range of 10,400–12,500. If one of the levels is broken, a new trend movement will be created and confirm the next price direction for Metars Genesi.
4. Krypton DAO (KRD) Coin
The failure of the trend to stay above the EMA/200, followed by the support level of 19,400–21,600 being broken, ensures that KRD enters the downtrend phase. If the price of Krypton DAO (KRD to IDR) is unable to stay above 9,400–11,400, it will make the KRD decline even deeper.
5. Efinity (EFI) Token
The trend restrained by WMA/85 requires further time to confirm the direction of the next Efinity token price movement. The bearish phase will be suppressed if the price is able to pass the 1,000–1,200 level.
So, that’s the information regarding the latest update from Indodax Market Signal on October 2, 2023.
You can also take advantage of the newest feature from Indodax called EARN staking to support the success of your crypto investment. See you in the market signal update next week, and I hope this information is useful.
NOTE: If EMA 5 crosses the WMA 75, 85, and EMA 200 lines and these lines intersect from bottom to top, then the market trend tends to be upward (bullish).
Each table above shows that if the EMA 5 value is higher than the 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. An overbought (overbought) or oversold (oversold) condition is an indicator that the market is at the point of changing trend direction.
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All crypto asset trading decisions are independent decisions by the user. Therefore, all risks arising from this, whether profit or loss, are not the responsibility of INDODAX.
