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Iranian Foreign Ministry Spokesperson: Apart from Switzerland acting as an intermediary, communication channels between Iran and the US special envoy remain open.On January 12th, analysts at Metzler Asset Management noted in a report that domestic politics in Japan are once again putting pressure on the yen. Sources indicate that Prime Minister Sanae Takaichi is considering dissolving the House of Representatives, which could trigger a new general election in February. Analysts stated that although the Prime Ministers Liberal Democratic Party currently holds slightly less seats in the House than the absolute majority needed, polls suggest it may win more seats in the new election. "Market participants may worry that this will lead the government to take further measures to curb prices, thereby reducing the likelihood of a Bank of Japan interest rate hike, and thus putting downward pressure on the yen."On January 12th, the Hang Seng Index opened more than 100 points higher and trended upward throughout the day. In the afternoon, driven by a surge in tech stocks and AI applications, the Hang Seng Index rallied by over 300 points, breaking through the 26,500 mark. The Hang Seng Tech Index performed strongly throughout the day, rising over 3% at one point in the final minutes of trading. At the close, the Hang Seng Index rose 1.44% to 26,608.48 points, and the Tech Index rose 3.1% to 5,863.2 points. The total turnover of the Hang Seng Index reached HK$306.223 billion (compared to HK$245.13 billion in the previous trading day). On the sector front, AI applications led the gains, while tech stocks and internet healthcare performed well. Oil and gas equipment and lithium battery sectors saw the largest declines. In terms of individual stocks, Alibaba Health (00241.HK) closed up 10.23%, Kuaishou (01024.HK) closed up 7.43%, Zhipu (02513.HK) closed up 31.4%, Alibaba (09988.HK) closed up 5.32%, and CATL (03750.HK) closed down 2.45%.The Hang Seng Index closed up 376.69 points, or 1.44%, at 26,608.48 on Monday, January 12; the Hang Seng Tech Index closed up 176.06 points, or 3.1%, at 5,863.2; the H-share Index closed up 171.55 points, or 1.9%, at 9,220.08; and the Red Chip Index closed up 12.89 points, or 0.31%, at 4,113.96.Hong Kong stocks closed higher, with the Hang Seng Index rising 1.44% and the Tech Index rising 3.1%. The AI application sector saw a collective surge, with Zhipu (02513.HK) rising 31.4% and MINIMAX-WP (00100.HK) rising 15.36%.

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.

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