Indodax Market Signals: Update 31 July 2023

Good news for Indodax loyal traders is that at the end of July 2023, the movement of crypto assets began to excite; for example, the Murasaki (MURA) token and Origin Protocol (OGN) token have reached the peak of the bullish trend on the INDODAX crypto market.

If you’re curious, let’s take a look at the latest market signals at INDODAX Academy to find out more about which crypto assets are showing bullish and bearish potential this week.

5 Bullish Crypto Assets

1. Murasaki (MURA) tokens

On the 4-hour time frame, it can be identified if the crypto asset Murasaki (MURA) token has experienced a significant high increase. The candle tested the EMA/200, failed to penetrate, then the price increased to touch 54,000 but experienced a weakening considering the RSI indicator touched the overbought area, so the price was unable to strengthen any further.

The weakening trend will try to test the strength of the available support area at 32,000–35,000.

2. Origin Protocol (OGN) tokens

Furthermore, there is the Origin Protocol (OGN) token crypto asset, which was in the bullish zone on July 24, 2023, impacting the OGN price, which increased by up to 70%. The trend is estimated by the MACD indicator to be in a negative direction with the line crossing downwards. If the price is able to move lower past WMA/75 and the 1,350–1,500 levels, it will have an unfavorable impact on the bullish trend.

3. Celsius (CEL) Coin

Managed to break the positive from the sideways zone, which is wide enough at the level of 2,340–2,730 so that the crypto asset Celsius (CEL) coin is able to strengthen the trend in the bullish zone, but the uptrend phase will be confirmed to fail to continue if the support area in the range of 2,000–2,400 is passed because it will exert negative pressure on price movements.

3. Celsius (CEL) Coin

4. Carry (CRE) Coins

Being in a bullish trend, the price is experiencing quite balanced pressure between selling and buying, experiencing a positive rebound after being able to hold on to the support zone in the 48–52 area. If the support level is 53–60 and it is unable to withstand the weakening of the Carry price (CRE) ) coin then expect the bullish trend to be depressed.

5. Injective (INJ) Tokens

On the INJ Chart 1 Day movement, the injective crypto asset (INJ) is currently weakening and stuck at WMA/85. The strengthening of the trend will be wide open if the resistance in the range of 135,000–145,000 is able to be passed so that the bullish trend will be stronger to continue.

5 Bearish Crypto Assets

1. Loopring (LRC) Coin

Breaking the EMA/200 and staying above that line, but the price weakened again and continued the bearish phase because the trend failed to cross the resistance line, which was quite strong at the level of 6,800–7,500.
The bearish trend will experience pressure if the price is able to pass the resistance in the 4,000–4,900 area.

2. Efinity (EFI) Tokens

The MACD indicator indicates that the trend is in a negative direction, but currently the price is moving above WMA/75. If the Efinity Token is able to break from the 1,000–1,280 area, the Efinity (EFI) Token movement will be more positive and suppress the bearish trend.

3. Dao Maker (DAO) Tokens

The Dao Maker (DAO) token crypto asset managed to enter the bullish phase on March 18, 2023, but failed to continue the direction of the trend movement until the support level of 18,900–21,000 was passed, so that the Dao Maker (DAO) token was confirmed to be in the bearish phase on June 6, 2023.
Currently, the trend is being halted at the support area of 10,000–15,000 and needs further time to create a new trend direction by penetrating this area.

4. Verasity (VRA) Tokens

On the 4-hour Verasity (VRA) token time frame, it is assumed that it must be able to survive above the support level of 55–63 because if the trend passes that level, the bearish trend will become stronger for the Verasity (VRA) token, and vice versa. If it succeeds in surviving, the potential for VRA to strengthen through the EMA/200 would be quite large.

5. DASH (DASH) Coin

The movement of the DASH (DASH) coin trend on the 4-hour chart is currently predicted to be in the sideways bearish phase with quite wide price movements in the range of 465,000–500,000. The passing of one of the levels will make the DASH (DASH) coin movement more dynamic and has the potential to increase. change the trend’s direction.

That was the discussion regarding the latest market signal movements at the end of July 2023; hopefully, with this updated information, it can make it easier for you when you want to trade.

NOTE: If the EMA 5 crosses the WMA 75, 85, and EMA 200 lines and these lines intersect from the bottom up, then the market trend tends to be up (bullish). In each table above, if the EMA 5 value is higher than the WMA 75, 85, and EMA 200, 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. If the condition is overbought (overbought) or oversold (oversold), it is an indicator that the market is at the point of changing the direction of the trend.

Attention: All content, which includes text, analysis, predictions, images in the form of graphics or charts, as well as news published on this website, is only used as trading information and is not a suggestion to take action in a transaction, either buying or selling certain crypto assets.

All crypto asset trading decisions are independent decisions by users. Therefore, all risks arising from it, both profit and loss, are not the responsibility of INDODAX.