The cryptocurrency market appears set to finish the week on a optimistic word after Bitcoin and others recorded positive factors in the previous couple of days.
The cryptocurrency market has added greater than 3% to its worth within the final 24 hours. At press time, the whole market cap stands above the $900 billion mark and will attain $950 billion earlier than the tip of the day.
Bitcoin appears set to surge previous the $21k resistance stage after including greater than 2% to its worth right this moment. 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 detrimental efficiency may be attributed to the information that Harmony Protocol was hacked earlier right this 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.
1/ The Harmony workforce has recognized a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with nationwide authorities and forensic specialists to establish the perpetrator and retrieve the stolen funds.
More 🧵
— Harmony 💙 (@harmonyprotocol) June 23, 2022
The cryptocurrency may document additional losses within the coming hours regardless of the efforts of the workforce to get well 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 couple of hours.
The MACD line has slipped under 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 document additional losses quickly.
At press time, ONE is buying and selling at $0.0238. If the bearish pattern continues, ONE may slip under the $0.020 stage for the primary time this month. However, the bulls ought to have the ability to defend ONE’s place above the $0.018 assist stage.
The publish ONE dips by 10% following Harmony Protocol hack: Will it dip lower? appeared first on CoinJournal.
