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The cryptocurrency market seems set to finish the week on a optimistic notice after Bitcoin and others recorded features 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 overall market cap stands above the $900 billion mark and will attain $950 billion earlier than the top of the day.
Bitcoin seems set to surge previous the $21k resistance degree after including greater than 2% to its worth right this moment. Ether might 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 might be attributed to the information that Harmony Protocol was hacked earlier right this moment. 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 Harmony group 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 offender and retrieve the stolen funds.
More 🧵
— Harmony 💙 (@harmonyprotocol) June 23, 2022
The cryptocurrency might file additional losses within the coming hours regardless of the efforts of the group to get well the funds.
Key ranges to look at
The ONE/USD 4-hour chart is presently bearish because the cryptocurrency has been underperforming over the previous couple of hours.
The MACD line has slipped beneath the impartial zone, indicating a bearish pattern. 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 pattern continues, ONE might slip beneath the $0.020 degree for the primary time this month. However, the bulls ought to be capable of defend ONE’s place above the $0.018 assist degree.
The submit ONE dips by 10% following Harmony Protocol hack: Will it dip lower? appeared first on CoinJournal.
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