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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion – DOT retested key support and bullish order block near $5.76.- Exchange long/short ratio and liquidations offered bulls little hope.Polkadot [DOT] showed signs of recovery despite prevailing macro headwinds.So far, the bulls have defended a key support and bullish order block near $5.76.The support hasn’t cracked throughout the second half of March and April.

A recent performance update captured DOT’s exemplary record in Q1, but Q2 has seen a bumpy start.Is your portfolio green? Check DOT Profit Calculator Meanwhile, Bitcoin [BTC] still exhibited choppiness.

It retested $30k before dropping sharply back to $27k on 26 April.At press time, BTC reclaimed the $28k zone, setting DOT to edge higher.However, persistent BTC fluctuations can whipsaw DOT.A likely upside or nuke for DOT? In the past six weeks, the price action has retested the bullish order block and support level near $5.76 three times.The first retest faced price rejections near $6.5, while the second retest edged higher and hit $6.959 after a little stalling near $6.5.The third retest, seen at press time, also witnessed a pullback retest confirming a likely uptrend continuation.As such, DOT could rally and retest the resistance and bearish order block of $6.959.

However, an FVG (fair gap value) within $6.552 – $6.799 (white) could also offer resistance to the likely recovery.Conversely, bears could gain more influence if the support level (cyan) cracks.

Such a breach could set DOT to aggressive selling and sink the asset to the March swing low of $5.245 or $5.0 support level.At press time, the RSI retreated sharply to lower ranges but inched closer to the neutral level – a dip in buying pressure, but buyers remained steadfast.Notably, the OBV edged higher – reinforcing the buying pressure.Bulls’ have slight leverage; sellers can’t be overruled How much is 1,10,100 DOTs worth today? According to Coinglass, the exchange DOT long/short ratio showed long positions were dominant at 50.09% on the 4-hour timeframe at press time.It shows mild bullish sentiment in the short-term, but bulls only have little leverage, and sellers couldn’t be overruled.

On the liquidations side, more long positions have been liquidated in the past few days than short positions – limiting a strong recovery.At press time, twice as many long positions (over $30k) were wrecked in the past 4-hours compared to short positions ($15k).It shows short-term selling pressure looms despite the mild bullish sentiment; hence caution should be exercised.Leave a Reply [Cancel reply](/news/polkadot-dot-retest-of-7-likely-if-btc-traverses-this-path/#respond) Leave a Reply – Development activity on the Cosmos network wasn’t impressive at the time of writing.

– However, ATOM made it to the list of top gainers as per data from LunarCrush.Q1 of 2023 wasn’t particularly kind to Cosmos [ATOM] as data from CoinMarketCap showed that it was a downhill road.However, there could be a change in the direction of the crypto winds.This was because as per data from LunarCrush, ATOM combined social and market activity hit the #1 rank.Based on leading combined social + market activity, $ATOM has hit the #1 LunarCrush AltRank™.24-hour activity Price +10.868% to $11.77 Social volume 3,752 Social engagements 15,563,962https://t.co/JMU3vbqEyx #cosmos @cosmos pic.twitter.com/UpidBxExy1 — LunarCrush (@LunarCrush) April 27, 2023 Furthermore, the altcoin exchanged hands at $11.63 at the time of writing.ATOM traded 7.67% higher than the last 24 hours and saw a surge of 1.79% over the last seven days as per CoinMarketCap.

Read Cosmos [ATOM] Price Prediction 2023-24 Can ATOM move on from its past? At the time of writing, data from Santiment showed that not much had been accomplished on the development end of the Cosmos blockchain.As can be seen below, development activity stood at 52.12, which indicated that fewer developments were taking place on the network.Furthermore, the development activity also witnessed a sizeable drop since the beginning of April.Moving on to the development activity contributors count, that too stood at 11.

This wasn’t a great sign for the Cosmos blockchain either.A look at ATOM’s market cap dominance also painted a gloomy picture for the chain.Although ATOM’s price witnessed a rise, its market cap dominance stayed at 0.263 which wasn’t exactly the best scenario for Cosmos.Furthermore, data from Staking Rewards also showed that the number of stakers also witnessed a significant drop in the last seven days.

However, at press time, there was a slight improvement in the number.But this was definitely a negative sign for the altcoin.

A ray of hope here Despite the disappointing front presented by Cosmos, ATOM investors could be in for a surprise.At the time of writing, ATOM’s Relative Strength Index (RSI) was moving toward the neutral zone.

This indicated that recovery could be on its way for the altcoin.Furthermore, the Moving Average Convergence Divergence (MACD) indicator showed that at press time, the signal line was above the MACD line.Although the two lines were below the zero line, the position of the MACD line seemed to be ready to move in the upward direction, which could be an indication of a bullish crossover.Additionally, the Awesome Oscillator (AO) also managed to flash green at press time.

Realistic or not, here’s ATOM’s market cap in BTC’s terms Additional data from LunarCrush also pointed out that as of 27 April, ATOM managed to make it to the list of LunarCrush Trade Top gainers.The altcoin ranked #4 and gained 9.1%.Today’s LunarCrush Trade Top Gainers: 🔹 $INJ @Injective_ 🔹 $BLUR @blur_io 🔹 $EGLD @MultiversX 🔹 $WOO @_WOO_X 🔹 $ATOM @cosmos 🔹 $BEL @BellaProtocol Trade them on https://t.co/oYP5IS4Ofa pic.twitter.com/4MDXkZoZYE — LunarCrush (@LunarCrush) April 27, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion – The formation of a range gave clear levels for traders to set their orders.- Despite the recent losses, there was a chance that a breakout toward $0.5 could occur.Bitcoin saw a bounce in prices after a retest of the $27.8k mark as support, but the volatility witnessed in the past 24 hours meant both bulls and bears must be cautious.For XRP, the lower timeframe bias was bearish but this could change soon.Read XRP’s Price Prediction 2023-24 XRP formed a range on the lower timeframes that extended from $0.44 to $0.48.At press time the bulls fought to overcome the $0.46 resistance, but have not succeeded after 12 hours of trying.

A confluence of imbalance and golden pocket presented a reasonable target in the event of a breakout The 4-hour chart showed that the market structure was bearish after the strong drop in prices on 26 April.Since then XRP has seen buyers effect a bounce from $0.433 to $0.458 at press time, but the RSI remained beneath the neutral 50 mark.The $0.45 level has served as support over the past week, and a retest would likely offer a buying opportunity.Invalidation would be a move beneath the range lows at $0.44.

Bulls can target the range highs at $0.48 to take profit, but there was the possibility of a bullish breakout as well.The move beneath the former XRP range was used to plot a set of Fibonacci retracement levels (white).Is your portfolio green? Check the XRP Profit Calculator These levels showed that the 61.8% and 78.6% retracement levels sat at $0.5 and $0.518.Moreover, the drop from $0.539 on 19 April was accompanied by the development of a fair value gap in the $0.5 area, highlighted by the white box.Hence, a move above $0.48 would likely climb to this area to fill the imbalance.Thereafter, a rejection could occur to take XRP back toward $0.44 or lower.

Sentiment remained bearish but rising demand showed a short-term rally was possible The 1-hour chart from Coinalyze showed that spot CVD has risen massively since 25 April, although it dropped over the past 24 hours to show some bullish exhaustion.Overall the trend has been upward in the past three days, which showed significant buying pressure could push XRP prices higher once again.A continued descent on the CVD in the coming days could dishearten buyers and embolden sellers.In contrast, the Open Interest was mostly flat in the past ten days, with sudden drops on the chart when XRP experienced sudden price moves downward.The falling OI indicated that sentiment was bearish and long positions were discouraged.If this changes, a breakout past $0.48 would become more likely.

– Wintermute Hacker deposits a large sum into the Curve protocol, however, sentiment continues to decline.- Curve’s market share in terms of volume falls, and interest from whales in CRV grows.On 20 September 2022, Wintermute, a market maker in the cryptocurrency sector based in the United Kingdom, fell prey to a malicious cyberattack.This resulted in a significant loss of approximately $160 million as a result of the exploit targeting the platform’s DeFi operations.Read Curve’s [CRV] Price Prediction 2023-2024 Presently, the perpetrator of the aforementioned cyberattack assumed the position of the primary liquidity provider for Curve Finance‘s trading pool.

The attacker deposited the illegally-obtained funds into the protocol.As a consequence of this action, the stolen funds now constitute 28% of the $409 million supporting Curve’s 3pool, a widely used decentralized trading pool.However, it appeared that Curve Finance’s governance couldn’t do anything about the hacker depositing the funds into their protocol.

The CEO of Curve, Michael Egorov was quoted saying that “All Curve pools are absolutely permissionless, so no one can stop anyone from depositing”.Another reason the governance of Curve was helpless was that Curve is immutable.This meant that its code cannot be changed once deployed on the Ethereum blockchain.And its creators have no control over who interacts with it or provides liquidity.Egorov also noted that a positive aspect of the scenario was the transparency inherent in blockchain transactions.

This meant that the perpetrator will encounter difficulty in concealing the misappropriated funds, as their movements will always be traceable.The current state of Curve Even though the governance’s hands are tied, the sentiment towards the protocol could be impacted.Santiment’s data indicated that the weighted sentiment for Curve was negative.

This implied that the crypto community had a negative outlook toward Curve at press time.Is your portfolio green? Check out the Curve Profit Calculator Curve’s volume share in the DEX market was also impacted during this period.According to Dune Analytics’ data, Curve’s market share fell from 34% to 9.4% in the last three months.

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