In the second week of October 2023, there will be an interesting surprise for loyal INDODAX crypto traders!
Because the crypto asset Monero (XMR) coin occupies the top position among bullish crypto assets, followed by the STORJ token in the second position.
Curious about what crypto assets are experiencing a bullish or net trend? Let’s discuss it in full in the latest INDODAX market signal below.
5 Bullish Crypto Sssets
1. Monero (XMR) Coin
The XMR price in the 4-hour movement has shown that the current trend has touched the overbought zone on the RSI indicator, an indication that the price will experience pressure. If XMR is able to form a candle above the 2,430,000–2,500,000 zone, a new direction will be formed for Monero in the bullish phase.
2. Storj (STORJ) Token
The bullish trend on STORJ in the 4-hour time frame is getting stronger. After the correction that occurred remained above the support level of 6,270–6,800, the price of STORJ (STROJ to IDR) continued strengthening again in line with the current trend.
3. MovieBloc (MBL) Coin
It has been in a bullish phase since September 23, 2023, when the price experienced a correction but was held back by the EMA/200, creating positive momentum that pushed the price of MovieBloc (MBL to IDR) to continue strengthening. The strengthening that occurs will provide an indication of heading to the 52–56 area.
4. Serum (SRM) Coin
Success in penetrating and remaining above WMA/85 is an indication that the SRM to IDR price will switch to a new trend from bearish to bullish, confirmed by the break of Resistance 640–675, causing the price to strengthen.
5. HIVE (HIVE) Coin
The MACD indicator still shows that the trend has not been confirmed and requires further time to confirm price movements. The bullish trend will be stronger and continue if the 5,000–5,500 area can be passed with the next resistance at the Hive price of 6,000–6,400.
5. HIVE (HIVE) Coin
The MACD indicator still shows that the trend has not been confirmed and requires further time to confirm price movements. The bullish trend will become stronger and continue if the 5,000 – 5,500 area can be passed with the next resistance at the Hive price of 6,000 – 6,400.
5 Bearish Crypto Assets
1. Everscale (EVER) Coin
It crossed the EMA/200 and formed a fairly strong positive candle, but the Everscale price weakened and returned to its original price, so the trend was unable to increase. The indicated support area available is around 520–570; if the price is unable to stay above this level, then the bearish trend will get stronger.
2. Shill (SHILL) Token
The decline in Shill token prices has been quite deep, but the MACD indicator also shows that the trend is in a negative area. The support area that dominates is around 100; passing this level will indicate that SHILL has touched its lowest price.
3. NXT (NXT) Coin
The trend shown by the MACD indicator is in a positive direction; however, the strengthening of the NXT price is not very significant because the price is still predominantly moving in the sideways zone with a price range of 18–23.
4. CyberHarbor (CHT) Coin
The downtrend currently occurring on CyberHarbor on the 1-day chart will fail to continue the direction of the CyberHarbor price movement in the next trend if the candle is able to break at WMA/85, followed by a break in the 360,000–435,000 area.
5. BORA (BORA) Coin
The BORA price movement in the 1-day time frame continues to weaken because supply pressure dominates over demand, impacting the BORA trend, which cannot be separated from negative momentum. The indicated support area is around 1,530–1,640; if the price is unable to stay above this level, then the bearish trend will get stronger.
So, that’s the information regarding the latest market signal updates in the second week of October 2023.
You can also take advantage of the newest feature from Indodax, called crypto 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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