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DOT/USD is testing a strong support level

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There are indications that the price action in the DOT/USD market may recover upwards soon. At the same time, and contrary to this opinion, there are signs of a continuation of the bearish trend in this market as well. To be more precise, one can assume that traders in this market are in a difficult situation.

DOT Analysis Statistical Data:
Polkadot value now: $6.06
DOT’s market capitalization: $7.96 billion
Polkadot moving width: 132.67 billion
Total supply of DOT: 132.67 billion
Coinmarketcap Ranking at Polkadot: #10

As a result, this requires more careful examinations, to properly anticipate and use any resulting movements in the market. Also, this price analysis will be extended to the DOT/BTC market as well.

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Important Value Levels:
High Levels: $6.28, $6.40, $6.60
Lows: $6.06, $5.90, $5.70

Polkadot Price Forecast Today October 14, 2022: Looks like the DOT/USD has bottomed out

DOT / US dollar You’re probably preparing to move up from the look of things. However, this perception is not in the absence of some signs of a possible price drop in this ongoing session. The last red candle here is at the lower boundary of the used Bollinger Bands indicator. It is worth noting that once either of the two limits of this indicator is pushed by the price candlesticks, there can be a retracement in the opposite direction. However, the size of the patch may not be easily determined. On the other hand, the Stochastic RSI curves are moving towards the oversold territory. However, should a large number of buy orders be triggered in this session, a bullish crossover may be initiated, as the price rebounds to the upside? Traders can place a pending buy order at the $6.20 price tag, to catch the bounce early enough.

Polkadot Price Forecast Today October 14, 2022: DOT / USD Tests Strong Support

Polkadot Price Predictions Today October 14, 2022: DOT/BTC May Rebound to the Upside

The price action in DOT/BTC looks more like a replica of the movement in DOT/BTC, the only difference lies in the tested Fibonacci level. Here similarly, the price action tested a support level below 0.0003116, and this corresponds to the Fibonacci level at 78.60. Also, the RSI is at 57% and 40% levels, which implies that the lagging line is still above the oversold level and the main line has reached below it.

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In this market, traders can only place a price trap above the current value level of 0.0003163. The reason for this type of approach is mainly because a bounce can be expected once the lower Bollinger bands are pushed, as this can result in a major uptrend. The price in this market can reach 0.0003482.

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Blockchain

Ankr posts $15 million to make users full as Helio stablecoin recovers after exploit

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Stablecoin Helio Protocol, which issues the HAY stablecoin pegged to the US dollar, He said In a Dec. 7 tweet, she said she had bought back $3 million worth of bad debt in HAY so far on the open market. The previous day, the blockchain infrastructure platform Ankr advertiser It will set aside $15 million to buy back bad debts generated from its recent exploitation and the resulting increase in HAY’s trading.

A series of seemingly unrelated incidents occurred on December 2 when a hacker tampered with vulnerabilities in Ankr’s smart contract code and compromised private keys following a technology upgrade. As a result, the hacker mined 20 trillion Ankr Reward Bearing Staked BNB (aBNBc), which was tied to BNB (BNB), and dumped them, with the aBNBc price dropping to less than $2 from about $300.

However, one trader then took advantage of the alleged hard-to-coding of pegged prices between aBNBc and BNB on the Helio protocol. The trader bought 183,885 aBNBc with just 10 BNB and used it as collateral to borrow 16 million HAY, which was then exchanged for 15.5 million USD (BUSD), Achieving a profit of 5,209 times from their original capital.

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After the exploit, HAY lost its peg and fell as low as $0.20 per coin before recouping most of its losses to trade at $0.96 at press time. Immediately after the incident, the Helio team stated that it would buy back the excess HAY and send it to the copy address. Originally, users were able to mint HAY by depositing BNB as collateral of 152%. The total value of the protocol was about $90 million before the accident.