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Tuesday, October 4, 2022
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    HomeMarketONE dips by 10% following Harmony Protocol hack: Will it dip lower?

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

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    The cryptocurrency market seems set to finish the week on a optimistic be aware after Bitcoin and others recorded features 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 entire 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 stage after including greater than 2% to its worth at the moment. Ether might transfer previous the $1,200 mark if it continues with its present rally.

    Nevertheless, ONE, the native token of the Concord 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 unfavorable efficiency will be attributed to the information that Concord Protocol was hacked earlier at the moment. On Friday, concord Protocol introduced through Twitter that it had recognized a theft occurring on the Horizon bridge, resulting in a $100 million loss to the hackers.

    The cryptocurrency might report additional losses within the coming hours regardless of the efforts of the crew to get better the funds.

    Key ranges to look at

    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 development. The 14-day RSI of 36 exhibits that ONE is at the moment within the oversold area and will report additional losses quickly.

    At press time, ONE is buying and selling at $0.0238. If the bearish development continues, ONE might slip beneath the $0.020 stage for the primary time this month. Nevertheless, the bulls ought to have the ability to defend ONE’s place above the $0.018 assist stage.

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





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