The increasing mainstream acceptance of Bitcoin is one of the factors driving up the Bitcoin price. Some acceptance came from Cuba which would regulate cryptocurrencies, and the emergence of the first crypto bank ATM in Honduras, a country in Central America caused a spike in Bitcoin prices. Also, from the Ethereum world, TRON founder Justin Sun spent $611,710 to buy EtherRock NFT yesterday. While Aurora is still on the Bearish crypto-asset list.

Read more about the factors and analysis of 5 Bullish and Bearish crypto assets this week.

5 Bullish Crypto Assets

• Bitcoin (BTC)

Bitcoin bounced off the 20-day exponential moving average ($46,823) on August 27 but gains have not been able to push the price above the $50,000 to $50,500 overhead resistance zone. This shows that BTC has not given up.

BTC last weekend moved in the resistance area between 710 – 715 million, has not been able to break through new resistance, BTC corrected naturally to 700 million – 690 million, the strongest support for BTC is at the level of 670 – 680 million.

In the past, job openings related to the development of strategies regarding digital currencies by leading companies such as Amazon and Walmart caused a sharp rally in Cryptocurrency prices. Earlier this week, supported by some positive developments regarding Bitcoin which include the expansion of PayPal’s cryptocurrency-related services in the UK and Coinbase’s announcement about having bitcoins in their portfolio pushed Bitcoin over $50,000.

• Cardano (ADA)

Still holding on to the Bullish crypto asset list. ADA is believed to be reaching its All Time High again next month.

“Cardano is now just behind major gainers bitcoin and ethereum,” deVere CEO Nigel Green said in emailed comments this week. “I believe that the price of cardano will hit an all-time high next month, hitting over $3.”

Green pointed to the “three main drivers” that are driving the price of cardano higher, including a “broader crypto market rally,” Alonzo’s upcoming September upgrade will provide Cardano’s Smart Contract functionality similar to ethereum, and cardano’s green energy credentials in comparison. with bitcoin and other similar energy-intensive cryptocurrencies.

• Ether (ETH)

Despite retreating slightly from its all-time high earlier this year, ETH still has a chance of hitting its price upside again. At the same time, non-fungible tokens, or NFTs, that transact on the ethereum network have attracted more and more attention lately. This week, a cartoon image of a rock, offered through the EtherRock NFT collection, was first purchased by Justin Sun, CEO of BTT, and subsequently sold for over $1.7 million. Overall, monthly NFT sales hit a record high near $900 million during August, according to industry tracker Non-Fungible.

Currently the Ethereum team is building and innovating a lot so that the network is more efficient, cheap, fast, and relatively follows the development of Blockchain which allows the price to go up too.

That spike in attention continues to bring people to ethereum, as many NFT sales on sites like OpenSea and others price NFT auctions in ether.

• Engine Coin (ENJ)

Enjin announced in July that it would seek ways to use NFTs to promote sustainability and equity as part of a UN pact. The company suggests using technology to combat climate change by using it in carbon sequestration companies and reducing the global wealth gap by allowing content creators around the world unlicensed access to the NFT marketplace.

JumpNet’s smart contracts will empower developers to build their next hit blockchain game—quickly and affordably.

• Hedera Hashgraph (HBAR)

Lastly, there is HBAR entering a bullish trend. HBAR is the native and energy efficient token of the Hedera public network. HBARs are used to power decentralized applications and protect the network from rogues.

Developers use HBARs to pay for network services, such as transferring HBARs, managing exchangeable and non-exchangeable tokens, and logging data. For each transaction sent to the network, the HBAR is used to compensate network nodes for bandwidth, compute, and storage.

5 Bearish Crypto Assets

• XinFin Network (XDC)

The market signal this time also discusses crypto assets that are experiencing bearishness. First there is XDC. The XDC token is the underlying utility token that powers the XinFin Hybrid Blockchain. The XDC token acts as a settlement mechanism for DApps built on top of the XinFin hybrid blockchain.

• Aurora (AOA)

Furthermore, Aurora (AOA) is predicted to continue to fall for the next week. There doesn’t seem to be any upgrade and demand actually decreases which causes a saturated market and the price drops.

Aurora Chain (AOA) is on a mission to create a brightly colored blockchain world with fast-paced contracts that facilitate easy application development on the blockchain.

• SushiSwap (SUSHI)

Second, there is SushiSwap (SUSHI)-based DeFi crypto asset. This crypto asset seems to be in minimal demand so that it signals a decline in the next week.

SushiSwap is an evolution of #Uniswap with $SUSHI tokenomics. The protocol better aligns incentives for network participants by introducing revenue sharing & network securities to the popular AMM model.

• IGNIS

Next up, there is the IGNIS crypto asset, which has just recently made its way to the Bearish crypto asset list. So far, the chart has shown stagnation, but this week IGNIS has shown a bearish signal.

IGNIS is a child chain on the Ardor blockchain platform – 100% Proof of Stake, and highly scalable, as non-essential data is automatically “trimmed” and supports all kinds of smart transactions that Ardor offers, and adds functionality to all other Ardor child chains.

• Synthetic Network Token (SNX)

Finally, SNX is likely to experience a decline this week. Because there is still no development of the latest technology from SNX, the price often shows a decline.

The Synthetix Network Token (SNX) is an Ethereum token that supports Synthetix, a decentralized synthetic asset issuance protocol. Synthetic assets are minted when token holders stake their SNX as collateral using Mintr, a decentralized application for interacting with Synthetix contracts. The protocol currently supports synthetic fiat currencies, cryptocurrencies, and commodities.

 

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

 

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

 

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