This month we will recommend several coins that hopefully can help your portfolio in the green. Let’s find out more!
5 Bullish Crypto Assets
- Serum (SRM)
The quite volatile movement is reflected in the Bollinger Bands indicator. It had been away from the Bullish phase for a while because the price was unable to break through the EMA/200 line, but on July 09, 2022 Serum (SRM) managed to break out from the strong EMA/200 support level.
The MACD indicator indicates if the current trend and the histogram are in a positive direction. The uptrend will try to test the resistance at 19.740. If this price is broken it will continue the Bullish trend.
It will rise further, if the price is able to break through the WMA/75 and WMA/85 lines and penetrate the 12,720 price level.
- Ren (REN)
It touched the overbought area of the RSI indicator, causing a correction to cross the EMA/200, but the price could pull back past 1.960. The price is corrected because the RSI indicator has touched the Overbought area so that the price cannot strengthen further, the closest support level is at 2,100.
The increase will try to break through the 2,500, a break of this price will make the bullish trend stronger and lead to the price of 3,200.
Using a 4-hour chart, we can see that the Sandbox experienced a correction but the price immediately reversed direction and strengthened because the candle was unable to break the support level of 16,300.
The price will not stay in the Bullish zone if it break out and form a candle below the 16,000 price. The resistance level is at 20,000 which will test the direction of the next trend.
- Btrips (BTR)
The RSI indicator has touched the overbought area so the price cannot strengthen further. The resistance level is at 1.220 followed by 1.370 – 1400. A break from this level will make a stronger position in the Bullish zone.
Weakening will test WMA/75 and WMA/85 in the 1.040 and 1.080 price ranges. The MACD indicator shows that BTR is in a negative trend.
- Aave (AAVE)
It entered the bullish zone on July 15, 2022, which was marked by a break of the resistance line at 1.120,000, thus making the Aave (AAVE) price strengthen further. The significant strengthening made the RSI indicator signaled that the trend had entered the overbought area and AAVE was unable to continue strengthening. The sideways phase in the bullish zone makes the trend movement more limited between the price range of 1,296,000 – 1,430,000.
5 Bearish Crypto Assets
- Alitas (ALT)
The weakening started when Alitas (ALT) penetrated the EMA/200 and the price increase was high enough to make the RSI indicator show the overbought area, then the price reversed direction until it weakened quite significantly and broke the strong support level at 9,500.
The nearest resistance is in the 8,450 – 8,500 price range. If the price is able to break through this level, it will open an opportunity for a reversal toward the 9,000 price level. On the contrary, the closest support level is at 7,900 followed by a fairly strong support line at 7,500.
- WEMIX (WEMIX)
On the 4-hour time frame, it can be seen that WEMIX has entered the bearish phase since June 15, 2022, which is marked by the crossing of the WMA/75 and WMA/85 lines below the EMA/200 line.
It had experienced a weakening to the price of 31,140 but it reversed direction and tried to hit the resistance level of 38,000. Looking at the MACD indicator, it can be concluded that the current trend is in a bearish sideways phase, the price movement is narrower and limited between the range of 34,000 – 36,000.
- Litecoin (LTC)
The decline in Litecoin (LTC) has occurred since November 16, 2021 when the price failed to continue strengthening and broke the 3,300,000 support level and weakened further until it entered the bearish phase.
The bearish phase can reverse direction if LTC is able to break out and stay above the 900,000 resistance line followed by a break of the resistance level in the 1.060,000 – 1.090,000 price range.
The Litecoin’s price will try to hit the 714,000 – 700,000 price range, before reaching the next support level at 630,000.
- Carry (CRE)
Candle Carry (CRE) on the 1-day chart showed that the trend was in the bearish phase. It increased on April 02, 2022 but could not pass the 200 level, so the price weakened further and broke the support level at 120 and the weakening continues.
A correction can lower the price further to the level 60. The next support level is at 50. If this price level is broken it will continue the bearish phase.
- XinFin Network (XDC) ??
In the 1-day time frame, its price had experienced a deep correction confirming the bearish trend. After touching the 325 price level, the price strengthened in line with the MACD Indicator which is in a positive trend. The resistance level is at 470, if broken it will go to the 535 level.
The RSI indicator showed that it needs further confirmation whether it will touch the overbought or oversold area.
NOTE: If the 5 EMA crosses the WMA 75, 85, and 200 EMA lines and the lines intersect from the bottom up, the market trend is likely to be bullish,
each table above shows that if the value of EMA 5 is higher than WMA 75.85 and EMA 200, the market tends to go up (bullish).
If the RSI and MACD values ??show the same condition, the market is showing the same trend. Overbought or oversold conditions indicate that the market is already at the point of changing the trend direction.
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