The issue of Indodax Market Signal February 8, 2021, or this week, features 5 bullish and bearish crypto assets.
Last week, the crypto assets that experienced an increase in price included DOGE, Bitcoin and Ethereum. The increase occurred from Thursday to weekend.
DOGE has increased again after experiencing resistance. Bitcoin and Ethereum are also on the rise again after they almost returned to their highest price.
This week, DOGE and BTC are predicted to continue strengthening. Meanwhile, Ethereum is still in a wait and see trend. Likewise, Ripple (XRP) is still unable to continue its continuous increase this week.
Several crypto assets based on decentralized finance / DeFi are still continuing to strengthen their prices this week. Although, the increase in crypto assets has reached hundreds of percent throughout 2021.
Meanwhile, crypto assets that have decreased or are bearish are still occurring in Crypto.com Coin (CRO) crypto assets. This is still happening because CRO has not received much attention from investors. In fact, CROs are still being abandoned by investors.
Furthermore, there are crypto assets that adopt the USD price, namely USDT, USDC and DAI which are bearish. This is because the USD price has not strengthened against the Rupiah this week.
The crypto asset that has experienced a price strengthening is Dogecoin (DOGE). He is still able to experience an increase in the second week of February 2021.
The price hike has started since last week. DOGE is predicted to increase by around Rp. 1,000.
This increase is certainly expected for holders of crypto assets bearing the “DOGE dog”. Although, it doesn’t really have strong fundamentals and utility, DOGE is expected to be able to increase fantastically this year.
Some time ago, Elon Musk’s posts on twitter as well as a massive buying action on the Reddit Forum occurred. So that the DOGE price increases.
However, from the analysis of the Indodax.Academy team, there will still be many investors who will sell DOGE as profit taking next week.
In today’s trading, DOGE moved at the lowest level at IDR 684 and the highest level at IDR 1200.
Here’s the DOGE technical analysis for this week:
|Summary||BUY (4) sell (2)|
The crypto asset that is bullish on Indodax Market Signal this week is Elrond (EGLD). He is still experiencing price strengthening in the next week, continuing what happened a week ago.
EGLD is a DeFi and internet of things / IOT based crypto asset. It seems that, apart from EGLD, there are still many other DeFi-type crypto assets that will still increase dramatically next year.
Even though in fact, the increase in DeFi crypto assets in early 2021 has been fantastic. There are several DeFi crypto assets that have increased hundreds of percent at the beginning of this year.
Read Also : Coin Rating EGLD
In today’s trading, ELGD moved at the lowest level of Rp1,270,000 and the highest level was Rp1,699,999. EGLD entered into 5 bullish crypto assets on Indodax Market Signal this week.
Here’s the EGLD technical analysis for this week:
At Indodax Market Signal this week, Cardano (ADA) is included in a market that is experiencing price strengthening or is bullish. The ADA price increase continues the bullish trend that has occurred since the beginning of 2021.
ADA also experienced a quite drastic price increase in 2020. The increase was even above 700% in one year.
This year, ADA is also expected to continue its fantastic performance. This has been seen at the beginning of 2021.
Read Also : Coin Rating ADA
In today’s trading, ADA moved at the lowest level of IDR 7,521 and the highest level was IDR 9,999. ADA has entered into 5 bullish crypto assets this week.
Here’s the ADA technical analysis for this week:
Bitcoin will continue its price strengthening this week. He’s back in the bullish crypto asset lineup. “The King of Crypto” will continue the increase in prices that started last week.
Bitcoin has not returned to its all-time high (ATH) of IDR580 million last week. It’s just that, the signal of an increase in the price of Bitcoin will make Bitcoin possible to penetrate ATH in the near future.
Meanwhile, Bitcoin is predicted to still increase the fantastic price increase this year. Throughout 2020, Bitcoin has increased by 400%.
Read Also : Coin Rating Bitcoin
In today’s trading, BTC moved at the lowest level of IDR 532,924,000 and the highest level was IDR 563,000,000. COMP entered into 5 bullish crypto assets this week.
Here’s BTC’s technical analysis this week.
This time Indodax Market Signal predicts AAVE will re-enter into a bullish market. AAVE is a DeFi-based crypto asset which is predicted to increase this week.
AAVE is a crypto asset as well as a DeFi platform. AAVE introduces liquidity mining and staking rewards for those who lock their LEND tokens. The staked token will act as a guarantee of last resort in case of a shortage. A governance proposal on incentives is being discussed.
Baca Juga : Coin Rating AAVE
In today’s trading, AAVE moved at the lowest level of IDR 6,199,999 and the highest level of IDR 7,060,000. AAVE entered into 5 bullish crypto assets this week.
Here’s AAVE’s technical analysis for this week:
|Summary||BUY (4) sell (1)|
This week, Indodax market signal released the results of an analysis that the US Dollar-based stablecoin crypto asset was experiencing a weakening price. This is because the USD is still unable to strengthen against the Rupiah, after the inauguration of Joe Biden.
USDC is a bearish crypto asset this week. USDC is one of the crypto assets that adopts 1: 1 at a dollar price. USDC is a crypto asset that is widely used in trading crypto assets on the Coinbase market.
In mid-year trading, OKB moved at the lowest level of Rp14,029 and the highest level was Rp14,131.
Here’s the USDC technical analysis for this week:
|Summary||SELL (4) BUY (1) OVERSOLD (1)|
Indodax market signal next bearish category is VIDYX. This crypto asset has a low rating on the crypto asset rating website Coinmarketcap.com.
Unfortunately, VIDYX’s innovation has not been able to develop. Thus, VIDYX was abandoned by its investors. This is one of the factors that caused the VIDYX price to decline in price.
Read Also : Coin Rating VIDYX
In today’s trading, VIDYX moved at the lowest level of Rp. 2,036 and the highest level of Rp. 2,089
Here’s the VIDYX technical analysis for this week:
|Summary||SELL (5) OVERSOLD (1)|
DAI is back in the bear market on Indodax Market Signal this week. DAI is a stablecoin that has a relative price equal to USD (1: 1). DAI is a crypto asset created by DAO markers.
This stablecoin shows a weakening price due to the weakening dollar price against the Rupiah. It seems that Joe Biden’s policies have not been able to strengthen his country’s currency.
Read Also : Coin Rating DAI
In today’s trading, DAI moved at the lowest level of Rp13960 and the highest level was Rp.14,600
The following is DAI’s technical analysis for this week:
|Summary||SELL (4) BUY (2)|
This bearish market re-entered Crypto.com Coin (CRO). This crypto asset continues to experience price weakness
In fact, Crypto.com’s centralized exchanges platform has collaborated with Booking.com as their business innovation. However, it still hasn’t been able to increase the price.
Read Also : Coin Rating CRO
In today’s trading, the lowest CRO price is at the level of Rp. 913 and the highest price is Rp. 976.
Here’s the CRO technical analysis for this week:
Tether (USDT) is the 1st crypto asset :! With USD being the most popular. This crypto asset is commonly used by many exchanges platforms as well as offline merchants.
Since the Dollar has depreciated against the Rupiah, the USDT has also decreased, as is the case with other USD stablecoin crypto assets.
Read Also : Coin Rating USDT
In today’s trade, BSV moved at the lowest level of Rp. 14,050 and the highest level of Rp. 14,150.
Here’s the USDT technical analysis for this week:
|Summary||SELL (5) buy (1)|
NOTE: If the EMA 5 crosses the WMA 75, 85 and 200 EMA and these lines intersect from bottom to top, the market trend tends to go up (bullish),
In each table above, it shows that if the value of EMA 5 is higher than 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, overbought conditions or oversold conditions are an indicator that the market is at a point of changing the trend direction.
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