ONE dips by 10% following Harmony Protocol hack: Will it dip lower?

    The cryptocurrency market seems set to finish the week on a optimistic word after Bitcoin and others recorded positive factors in the previous few days.

    The cryptocurrency market has added greater than 3% to its worth within the final 24 hours. At press time, the full market cap stands above the $900 billion mark and will attain $950 billion earlier than the tip of the day.

    Bitcoin seems set to surge previous the $21k resistance degree after including greater than 2% to its worth right now. Ether may transfer previous the $1,200 mark if it continues with its present rally.

    However, ONE, the native token of the Harmony Protocol, is among the many worst performers amongst the main cryptocurrencies. ONE has misplaced greater than 10% of its worth within the final 24 hours and will dip decrease within the coming hours.

    The unfavourable efficiency could be attributed to the information that Harmony Protocol was hacked earlier right now. On Friday, concord Protocol introduced by way of Twitter that it had recognized a theft occurring on the Horizon bridge, resulting in a $100 million loss to the hackers.

    The cryptocurrency may file additional losses within the coming hours regardless of the efforts of the workforce to recuperate the funds.

    Key ranges to observe

    The ONE/USD 4-hour chart is at the moment bearish because the cryptocurrency has been underperforming over the previous few hours. 

    The MACD line has slipped beneath the impartial zone, indicating a bearish pattern. The 14-day RSI of 36 reveals that ONE is at the moment within the oversold area and will file additional losses quickly.

    At press time, ONE is buying and selling at $0.0238. If the bearish pattern continues, ONE may slip beneath the $0.020 degree for the primary time this month. However, the bulls ought to have the ability to defend ONE’s place above the $0.018 help degree.

    The submit ONE dips by 10% following Harmony Protocol hack: Will it dip lower? appeared first on CoinJournal.

    Source link

    Latest stories

    - Advertisement - spot_img

    You might also like...