EUR/USD 1.15470
-0.121%
Gold 4330.16
-0.316%
Oil 78.751
3.253%
USD/JPY 158.758
0.763%
GBP/USD 1.34924
-0.036%
GBP/JPY 214.207
0.727%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Iranian President: The meeting with the Supreme Leader lasted 7-8 hours.On August 10th, according to Kyodo News, several Japanese government officials revealed that the Japanese and US governments conducted an unusual joint intervention to buy yen on July 31st (US Eastern Time), the first such action in 28 years. The decisive factor was that Bank of Japan Governor Kazuo Ueda strongly hinted at a press conference that day (July 31st) that policy interest rates would be raised as soon as possible, in September or later. Ueda explicitly stated that if necessary, the pace of interest rate hikes would be "accelerated." The US side gave a positive assessment, and both sides were aligned in preventing excessive yen depreciation. This is because the US is concerned that Japans slow pace of interest rate hikes has led to excessive yen depreciation, which could trigger further price increases and a rise in long-term interest rates, potentially impacting global financial markets. A senior Japanese government official revealed: "Governor Uedas statement was very persuasive to the US. At the same time, this also means that the Bank of Japan has no choice but to raise interest rates at its next policy meeting (September 17-18)."Market news: Meta Platforms (META.O) supports Texas Governor Abbotts review of data centers.Novo Nordisk (NVO.N): A consortium of stakeholders has joined forces in London to create an innovation hub. This collaboration will leverage artificial intelligence as a driver of Novo Nordisks innovation.Boeing plans to acquire a stake in Archer Aviation, sending the companys stock price soaring 15% in pre-market trading.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

Suggestion