Adam Hayes, PhD, CFA

Bullish On Polkadot: Analyst Sees DOT Hitting $15 Soon https://ift.tt/btkI46C Polkadot (DOT), the interoperable blockchain platform designed for connecting different blockchains, is currently caught in a tug-of-war between technical indicators suggesting a potential price dip and bullish predictions from some analysts. Recent price movements paint a somewhat gloomy picture. DOT breached the lower boundary of its ascending trend channel, a technical indicator often interpreted as a sign of weakening momentum. Trading volume also leans bearish, with sellers dominating the market and putting downward pressure on the price. Support seems to be holding around $6.30, but resistance sits stubbornly at $9.40, hindering any upward movement. Polkadot Consolidation Or Correction? However, not everyone is ready to count DOT out. Proponents point to a bullish flag pattern, suggesting a consolidation phase. This consolidation, they argue, is a healthy pause after recent fluctuations and allows for accumulation before the next significant price move. This interpretation finds support from prominent crypto analysts like World of Charts. They believe the current price action is a bullish flag, a technical pattern often seen as a precursor to a breakout. Should this breakout occur, they predict a surge in value, with DOT potentially reaching $15 in the coming weeks. $Dot#Dot Consolidating In Bullish Flag In H4 Timeframe Expecting Upside Breakout & Incase Of Successful Breakout Expecting Move Towards 15$ In Coming Weeks #Crypto pic.twitter.com/nZkfjMoeDL — World Of Charts (@WorldOfCharts1) April 22, 2024 Uncertain Future For Polkadot? The conflicting technical signals make Polkadot’s future trajectory difficult to predict. The short-term outlook appears shaky, with potential for a price dip in the coming days or weeks. However, the long-term picture remains more optimistic. Polkadot’s core technology offers a compelling solution for blockchain interoperability, a major hurdle in the crypto industry. If the project continues to develop and gain traction, a significant price increase in the future remains a possibility. While the potential for a $15 price tag in the coming weeks is enticing, the current technical indicators suggest caution. Ultimately, the price of Polkadot, like all cryptocurrencies, remains highly volatile and susceptible to unforeseen events. The coming weeks will be crucial in determining whether the bulls or the bears will prevail in this ongoing battle. Polkadot JAM Protocol: Integrating Ethereum Smart Contracts, Boosting DOT’s Potential In another development, Polkadot has been at the forefront of blockchain innovation, drawing significant attention from industry stakeholders with recent developments and promising future prospects. A notable milestone is the unveiling of the Join-Accumulate Machine (JAM) Gray Paper, representing a fusion of Polkadot and Ethereum protocols. This protocol, as explained by the team, ...

Is High-Frequency Trading Legal in the US? ⚖️ www.enochchan01.com 👥 fb connect: https://lnkd.in/gvyifNHc High-frequency trading (HFT) often sparks debate, with many questioning its legality and ethical implications. So, is it legal? 🤔 The short answer is: Yes, HFT is legal in the United States. However, it's subject to specific regulations and oversight by organizations like the Securities and Exchange Commission (SEC). These regulations aim to ensure market fairness and transparency by addressing concerns like market manipulation and unfair advantages. Want to dive deeper into the complexities of HFT and its regulatory landscape? Visit my website for a comprehensive breakdown: www.enochchan01.com Let's discuss! What are your thoughts on HFT and its impact on the financial markets? #HFT #HighFrequencyTrading #FinancialMarkets #SEC #Regulations #Finance #Trading #Investing #Ethics #MarketTransparency

ETH is testing key resistance at $2705.5, with bearish signals hinting at a potential reversal. Is now the time to go long, or should traders prepare for a correction to $2643? Dive into the latest technical analysis and discover potential trade setups. Stay informed, trade smart. #Ethereum #Crypto #TechnicalAnalysis #ETHUSD https://lnkd.in/dvJrYg_z

Ethereum Price Faces Rejection, Is This A Fresh Bearish Signal? https://ift.tt/28Yg1CG Ethereum price failed to clear the $3,280 resistance zone. ETH declined below the $3,200 support and is now consolidating losses above $3,100. Ethereum struggled to clear the $3,250 and $3,280 resistance levels. The price is trading below $3,200 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,190 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below the $3,100 support. Ethereum Price Trims Gains Ethereum price struggled to clear the $3,250 and $3,280 resistance levels. ETH started a fresh decline and traded below the $3,200 support to enter a short-term bearish zone, like Bitcoin. Besides, there was a break below a key bullish trend line with support at $3,190 on the hourly chart of ETH/USD. The pair even declined below $3,150 and tested $3,100. A low has formed at $3,105 and the price is now consolidating losses. Ethereum is now trading below $3,200 and the 100-hourly Simple Moving Average. It is testing the 23.6% Fib retracement level of the recent decline from the $3,291 swing high to the $3,105 low. Immediate resistance is near the $3,180 level and the 100-hourly Simple Moving Average. The first major resistance is near the $3,200 level or the 50% Fib retracement level of the recent decline from the $3,291 swing high to the $3,105 low. Source: ETHUSD on TradingView.com The next key resistance sits at $3,220, above which the price might gain traction and rise toward the $3,250 level. A close above the $3,250 resistance could send the price toward the $3,280 resistance. If there is a move above the $3,280 resistance, Ethereum could even test the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,200 resistance, it could continue to move down. Initial support on the downside is near the $3,120 level. The first major support is near the $3,100 zone. The main support is near the $3,030 level. A clear move below the $3,030 support might increase selling pressure and send the price toward $2,850. Any more losses might send the price toward the $2,650 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $3,100 Major Resistance Level – $3,200 Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk. Source link via POTPOURRINEWS https://ift.tt/3CgWfYx April 25, 2024 at 05:25AM