The Autorité des Marchés Financiers (AMF), which oversees the French financial markets, revealed that more than one million new retail investors have entered the equities markets in the country ove...
On January 10, Ethereum (ETH) plunged to a low of $2,930 as bulls bought the dips. The upward movement was stopped at the high of $3,400. The price level of $3,400 was the previous support from October 11.
There is no denying the fact that AI is transforming the cybersecurity industry. A double-edged sword, artificial intelligence can be employed both as a security solution and a weapon by hackers. As AI enters the mainstream, there is much misinformation and confusion regarding its capabilities and potential threats. Dystopian scenarios of all-knowing machines taking over […]
Key Takeaways
Trading bots have extracted hundreds of Ethereum from the WTF/WETH liquidity pool on Uniswap.
The fees.wtf team did not supply enough liquidity to...
When voters approved legalized medical marijuana in Mississippi in 2020, it seemed yet another sign of how people in all parts of the country have embraced legal cannabis. Mississippi’s approval of medical marijuana represented one of many such movements across the South. Unfortunately, things have not gone as expected. First, anti-legalization forces managed to stop […]
The crypto market has been in the red since the new year began, with the first week bringing down the most valuable coins by double digits as fear, uncertainty, and doubt (FUD) gripped the global economy amid concerns about inflation, liquidity, and the US Federal Reserve’s next move. After weeks of continuous sell-offs, a well-known …
After being literally too popular to handle following the release of the game's Endwalker expansion, Final Fantasy 14 is set to go back on sale later this month.
The Canadian dollar is in positive territory and continues to have an excellent week, with gains of 1.28%. The currency is back below 1.25 and is looking to close below this symbolic line for the first time since mid-November. This week’s robust rally by the Canadian dollar is more a case of greenback weakness rather than […]
DOT coin price action shows a rise in the underlying bearishness within the inverted flag pattern teasing a fallout shortly. Polkadot is a base for a decentralized internet that is managed by its users and helps to make it easier to create new institutions, applications, and services. The Polkadot protocol allows for the connection of the private and public blockchains, without permission oracles, networks, and the latest technological advancements, making it possible for these distinct blockchains to securely exchange information and data through their Polkadot Relay Chain. Let us move ahead to read about the Polkadot technical analysis. Past Performance of DOT DOT coin price shows a consolidation phase in action from last month between $32 and $24 in the daily chart. The consolidation range comes after a 50% fall from the horizontal level at $54. Therefore, the price action forms an inverted head and shoulder pattern in the daily chart. DOT/USD Daily Chart DOT Technical Analysis The DOT coin price resonates close to the support level of the flag pattern and indicates a bullish reversal. However, the higher price rejection within the range shows lower high formation. The crucial EMAs (50, 100, and 200) maintain a falling trend with the 50-day EMA providing dynamic resistance resulting in the higher price rejection. Therefore, the higher price rejection with falling 100-day EMA increases the chances of a bearish crossover with the 200-day EMA. The RSI indicator at 47% shows the slope struggling to rise above the 50% mark in the daily chart. However, the falling prices fail to influence the RSI slope as it shows lesser correction in comparison. Therefore, the slope presents a divergence. The MACD indicator shows the MACD and signal lines give a bullish crossover with a sudden reversal and neutralizing the previous bearish crossover. Therefore, the indicator gives a weak buy signal for the coin. In short, the technical analysis showcases the indicators giving weak buy signals, while the DOT coin price action hints at a bearish fallout. Upcoming Trend The breakout of the inverted flag pattern will increase the overall trend momentum in the DOT coin. Moreover, the breakout seems imminent with the higher price rejection. The price action suggests support levels at $18 and $10 can halt the bearish trend upon the breakout of $24. However, an unlikely bullish breakout will face opposition near $38 and $45. In conclusion, the consolidation phase shows a slight rise in the underlying bearishness and hints at a possible fallout. However, traders should wait for the price action confirmation before taking a short-side trade.