Indodax Market Signal 16 May 2022 – USDT
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Indodax Market Signal 16 May 2022 – USDT

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Indodax Market Signal 16 May 2022 – USDT

Indodax Market Signal 16 Mei 2022 | ORBS Indodax

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5 Bullish Crypto Assets

After last week the market experienced a deep correction, stable coins and short tokens recovered together. This week, USDT and HEDGE entered the ranks of bullish crypto assets. Want to know more? Come on, scroll down!

  • USDT (USDT)

USDT has entered a bullish phase since the range 26 April 2022 – 28 April 2022, which is confirmed by a break of the Resistance level at the price level of 14,450 – 14,460. However, the USDT direction of this trend should still require further confirmation because the MACD indicator with a 1-day time frame is in a sideways phase.

The USDT movement of the candle has touched the price range of 14,790 which is the highest price since December 04, 2021.

  • Binance USD (BUSD)

After moving for quite a long time in the sideways phase, using the 1 Day time frame the candlestick was able to breakout and penetrate the price of 14,470 and was even able to touch the price level of 15,400.

The use of the RSI indicator shows that BUSD/IDR has not yet entered the overbought phase so that it is possible to continue strengthening, if it weakens, there is strong resistance at the price level of 14,417 – 14,400.

  • 1x Short Bitcoin Token (HEDG)

The change in trend to a bullish trend can be confirmed because EMA 75 and EMA 85 were able to cross above the 200 EMA line. In this bullish trend HEDGE/IDR was able to touch the highest price since September 20, 2021, which touched 1,814,000.

However, the RSI indicator shows that it has entered the Overbought area, which indicates that the overbought phase has occurred so that the possibility of a correction will be more depressed on HEDGE/IDR.

  • 1X Short XRP Token (XRPHEDGE)

The price movement of 1X Short XRP Token (XRPHEDGE) has touched the price level of 1,246,515 which is the highest price on October 27, 2021. If there is a weakening there is the nearest support line at the price of 926,465 but if this line is broken it will go to the next support level line in the price range .

  • 1x Short ETH Token (ETHHEDGE)

The bullish trend on ETHHEDGE/IDR has occurred since April 27, 2022 – April 29, 2022. After touching the price range of 393.315 to enter the overbought area, the movement of 1x Short ETH Token (ETHHEDGE) has experienced a fairly stable correction. Weakening will go to the support line at 267,500 but on the contrary if it strengthens it will aim at 312,760.

The MACD indicator using 4 Hours illustrates that the trend is in a negative phase so it must be combined with the RSI indicator.

5 Bearish Crypto Assets

  • Celsius (CEL)

The decline from Celsius has occurred in a fairly long time range, if using a chart with a time of 1 day it can be seen that a bearish trend occurred on October 18, 2021, which could be a sign that the decline occurred quite significantly.

This can be confirmed by the RSI indicator has entered a fairly deep Oversold phase and the MACD indicator is also in a negative phase, so the next trend requires confirmation of a high enough increase to change the bearish phase.

  • Bancor Network Token (BNT)

The Bancor Network Token (BNT) briefly touched the price level of 41,050 but after that it did not continue to strengthen and instead experienced a reversal to make the bearish position even stronger.

The current price level is the lowest price since the Bancor Network Token (BNT) listing on the indodax platform on August 5, 2021. Looking at the RSI indicator which is already in the oversold phase, the possibility of experiencing it can still occur.

  • Orbs (ORBS)

In the 1-Day timeframe chart, it is shown that the MACD indicator is in a negative phase which is in line with the direction of price movement which is currently the lowest price of Orbs (ORBS) since June 22, 2021.

Strengthening will occur if it does not penetrate the support level, if there is a strengthening it will test the resistance level which is at the 1.030 price level which if broken it will test the next price level at 1.355.

  • Bitcoin SV (BSV)

The decline that has occurred in Bitcoin SV (BSV) has been around for a long time, where confirmation of the bearish trend occurred since June 23, 2021 – June 24, 2021, this weakening was precisely after being able to touch the All Time High (ATH) at the price level of 7,108,695 after the ATH price reversed direction with quite significant.

With the use of the 1-Day time frame MACD Indicator, it is in a negative trend so the decline could still occur, which is also marked that the RSI has shown the Oversold phase.

  • Lyfe (LYFE)

The use of a chart with a time of 1 day can be seen if there are many axes on the candle that occur, but no candle is formed, indicating that a fairly massive purchase occurred at a moment’s notice which made the price rise significantly which occurred in a fairly short time.

The RSI has moved from the overbought area, but the MACD indicator still shows the trend direction is on the negative side. Strengthening in Lyfe (LYFE) will test the Resistance level at the price of 385.

 

NOTE: If the 5 EMA 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),

each table above shows that if the 5 EMA value is higher than the 75.85 WMA and 200 EMA, the market tends to go up (bullish).

If the RSI and MACD values ??show the same condition, it means that the market is showing the same trend, (overbought) or (oversold) conditions are an indicator that the market is already at the point of changing the direction of the trend.

 

ATTENTION: All content which includes text, analysis, predictions, images in the form of graphics and charts, as well as news published on this website, is only used as trading information, and is not a recommendation or suggestion to take an action in transacting either buying or selling. certain crypto assets. All crypto asset trading decisions are independent decisions by the user. Therefore, all risks arising from it, both profit and loss, are not the responsibility of Indodax.

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