The cryptocurrency market appears to be like set to finish the week on a optimistic word after Bitcoin and others recorded good points 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 appears to be like set to surge previous the $21k resistance degree after including greater than 2% to its worth at present. Ether may transfer previous the $1,200 mark if it continues with its present rally.
Nonetheless, 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 present. 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.
1/ The Concord workforce has recognized a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have now begun working with nationwide authorities and forensic specialists to establish the offender and retrieve the stolen funds.
— Concord 💙 (@harmonyprotocol) June 23, 2022
The cryptocurrency may file additional losses within the coming hours regardless of the efforts of the workforce to get better the funds.
Key ranges to observe
The ONE/USD 4-hour chart is presently bearish because the cryptocurrency has been underperforming over the previous few hours.
The MACD line has slipped under the impartial zone, indicating a bearish development. The 14-day RSI of 36 exhibits that ONE is presently within the oversold area and will file additional losses quickly.
At press time, ONE is buying and selling at $0.0238. If the bearish development continues, ONE may slip under the $0.020 degree for the primary time this month. Nonetheless, the bulls ought to be capable of defend ONE’s place above the $0.018 assist degree.
The submit ONE dips by 10% following Concord Protocol hack: Will it dip decrease? appeared first on CoinJournal.
by way of Cointojournal