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Polkadot price prediction: DOT sets another yearly high at $16

TL;DR Breakdown  DOT/USDT trades around $15.8  Polkadot set a new yearly high at $16  Clear support around $10.5 is yet to be tested  After our previous Polkadot price prediction, the DOT did make a strong retracement. However, the price did not reach the major support area around $10.5. Polkadot currently trades at $15.8 and has […]

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TL;DR Breakdown

  •  DOT/USDT trades around $15.8
  •  Polkadot set a new yearly high at $16
  •  Clear support around $10.5 is yet to be tested 

After our previous Polkadot price prediction, the DOT did make a strong retracement. However, the price did not reach the major support area around $10.5.

Polkadot currently trades at $15.8 and has a market cap of $13.6 billion. DOT has moved by 8.8 percent during the past 24 hours with a volume of $6 billion.

The DOT/USD made an incredible move earlier this week as a strong bullish momentum took the market from $7 to the current high of $15.8. DOT is still heavily extended from the previous low. Therefore, more downside is needed before the market can offer good risk/reward.

Polkadot price prediction: DOT sets another yearly high at $16 1

Cryptocurrency heat map by Coin360

Polkadot Price Prediction: DOT continues moving higher

Today, DOT/USD opened at $13.19 after rejection yesterday, which caused a strong mone to the downside. After the previous yearly high of $15.06 was broken earlier, DOT has continued moving higher as it looks to test $16. 

The analyst predicts the $10-$11 area of support to be tested next week. As mentioned in the previous price prediction, resistance turned support around $10.5 and the 61.8 Fibonacci retracement should still provide interest for a retest around the $10-$11 area.

Both the 100 and 50 period moving averages, seen as a blue and red line on the chart, still are located around this same area of support. 

Polkadot price movement in the last 24 hours

The price of Polkadot has increased by 13 percent over the past 24 hours. The price currently trades just above the previous yearly high of 15.06 USD. 

The 24 hour low is at $11.85, while the 24 hour high is at $16. This indicates that the DOT/USD still has not lost its bullish momentum and exessive volatility. We can expect further attempts to move higher in the upcoming hours.

After Polkadot set the $15 high yesterday, the price did move lower for most of the day. As previously mentioned, the area around $10.5 was the one to watch for potential support. However, it was not reached as a clear rejection was made around the $12-$12.5 area.

Polkadot price prediction: DOT sets another yearly high at $16 2

Polkadot price chart by TradingView

DOT/USD 4-hour chart – final move higher before a retrace towards $10.5?

On the DOT/USD 4-hour chart, another yearly high has been set as the DOT/USD briefly tested the $16 price mark. Therefore, the market still seems to be very bullish.

However, since Polkadot has moved by around 125 percent from the previous major low of $7 to the high of $16, a more substantial retracement is needed before another trade can be considered. Right now, the risk of another sharp reversal to the downside is very high.

The analyst expects that DOT will show another rejection later today, which will likely reverse the price action in a more substantial way in preparation for a much longer retracement.

Polkadot Price Prediction: Conclusion

DOT/USD should reverse again in the upcoming 24 hours as the market has extended too far from the previous major swing low of $7.The retracement seen yesterday will likely not be enough to set up another solid base for the next major upswing. 

DOT currently continues to set further yearly highs. However, the analyst predicts that the market will reverse back to the downside over the weekend.

The $10-$11 are still offers very strong support and should be kept as a target for considering the next entry. Entry from this support area would provide a very good risk/reward ratio and several confluences of support such as resistance around $10.5, 61.8 percent Fibonacci retracement, as well as the area between 50 and 100 period moving averages.

For now, it is best to remain neutral and wait for the price action to calm down.

Additionally, read our news on Polkadot 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Blockchain

Tether Gets 500 BTC Ransom: Sender Threats to Leak Harmful Documents

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Tether, the company issuing the most widely-used stablecoin, USDT, has revealed that it got a ransom demand for 500 BTC. The sender has threatened the company to leak documents to the public that would “harm the bitcoin ecosystem.”

Tether Gets a 500 BTC Ransom Demand

Tether, the issuer of the popular USDT stablecoin, took it to Twitter to reveal that someone had threatened to leak documents to the public in an attempt to “harm the bitcoin ecosystem.”

The company explained that “forged documents are circulating online purporting to be between Tether personnel and reps of Deltec Bank & Trust and others. The documents are bogus.”

Furthermore, Tether explained that they’ve also received a ransom demanding 500 BTC, which is currently worth around $23.6 million. They also revealed that unless the ransom is paid, the sender would “leak documents to the public in an effort to harm the bitcoin ecosystem.” Also, Tether has no intention of paying the money.

What Now?

At the time of this writing, there’s no further information on what’s going to happen next.

It is unclear whether this is a basic extortion scheme like those directed at other crypto companies or people looking to undermine Tether and the crypto community as a whole. Either way, those seeking to harm Tether are getting increasingly desperate.

The company also said that the “forged communications and the associated ransom demand” were reported to law enforcement.

Interestingly enough, all of this comes about a week after Tether and Bitfinex reached a settlement with the office of the New York Attorney General, putting an end to a year-long lawsuit that many thought could really harm the ecosystem. Nevertheless, the company admitted to no wrongdoings and agreed to pay an $18.5 million fine.

However, as part of the settlement deal, the company has also agreed to no longer be able to deal with customers from New York.

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Source: https://cryptopotato.com/tether-gets-500-btc-ransom-sender-threats-to-leak-harmful-documents/

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Blockchain

Litecoin Price Analysis: 01 March

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The cryptocurrency market has been moving in a wave-like fashion with continuous crests and troughs. The market has been seeing spurts of growth in the price, but it did not trigger a price swing. Litecoin [LTC], also witnessed such a push in its price recently, but at the time of writing, the coin continued to move within a tight range.

The digital asset has a market capitalization of $10.99 billion and was being traded at $163.94.

Litecoin 1-hour chart

Source: LTCUSD on TradingView

The above chart of Litecoin has been noting the price consolidation between $155 and $181. Before the drop to this level, LTC was trading between $169 and $181 for a while. However, sudden selling pressure pushed it to this new price level.

This could mean that the LTC market may further this phase of consolidation as momentum in the Bitcoin market also noted a similar trend.

Reasoning

The Bitcoin market has been pushing the price of most altcoins in the market. Now that, the digital asset moves sideways after a little pump, the alts are also showing signs of consolidation.

Litecoin has shown that the volatility in its market has comparatively decreased as the Bollinger Bands converged. Meanwhile, the 50 moving average and signal line were beginning to witness a bearish crossover, which could be just a sign for the price to retrace within the above-mentioned range.

The Relative Strength Index has climbed to equilibrium due to the boost in price. This meant that the buyers and sellers were equal in the market, and hinted towards yet another spell of sideways movement for LTC. Meanwhile, the awesome oscillator noted the lack of momentum in the market.

Conclusion

The current trend prominent in the LTC market was of consolidation between $155 and $169. There has been bearishness evolving in the market, but the price swing may not be visible in the short-term.


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Source: https://ambcrypto.com/litecoin-price-analysis-01-march

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LetsExchange Launches Crypto Trading Service With Smart Exchange Rates

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LetsExchange Launches Crypto Trading Service With Smart Exchange Rates

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For each trade, LetsExchange instantly selects the best rate across the world’s leading crypto exchanges and lets the trader secure this rate at the beginning of the transaction. 

Cryptocurrency trading can be a very lucrative activity. Because of the price volatility of many coins, the possibilities to make gains through short-term trading are big. Two factors influence the outcome of a trade. First, the trader must buy crypto at the best possible rate. And second, the trader must be able to buy or sell the crypto assets without delays.

The LetsExchange platform has been designed to maximize traders’ gains by facilitating the two factors mentioned above. With the use of this service, traders can get the most profitable exchange rate available on the market at a given moment. What’s more, the platform ensures that the said rate remains unchanged until the trade is completed.

This newly launched service also eliminates delays in the processing of transactions by waiving registration, KYC screening, and other authentication and authorization procedures. The platform’s founders elaborate on these features that allow traders to maximize their gains:

  • The registration process and KYC authentication are time-consuming. Traders usually cannot afford to waste much time in such procedures as the cryptocurrency market is volatile, and exchange rates may change significantly within a few minutes. With LetsExchange, traders can benefit from these fluctuations by buying and selling cryptocurrencies as soon as they decide, without hassle and delays.
  • LetsExchange works with the world’s top crypto exchanges including Binance, Okex, KuCoin, Gate, Huobi, and more. By using its SmartRate technology, the platform always offers the most profitable rate across all the exchanges. In this way, traders won’t waste time in comparing rates and researching the market status at a given moment.
  • This platform offers the possibility to secure the most profitable exchange rate by selecting the Fixed Rates option. This feature will maintain the said rate unchanged until the completion of the trade. But if a trader prefers to forecast the rate fluctuations in a bid to maximize their gain, the floating rates option allows doing it. Each trader has the freedom to choose the most convenient strategy.
  • Thanks to the use of fully automated exchange algorithms, the only delay in the processing time of a transaction depends on the network speed of the selected cryptocurrency. During Beta testing of the platform, the average transaction time was 25 seconds.

The LetsExhange platform at https://letsexchange.io is now ready to help traders maximize their gains by guaranteeing the best rates and eliminating unnecessary delays.

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About LetsExchange

LetsExchange is a one-stop multicurrency exchange service free of registration, limits, and complications. It supports 210+ coins, about 45,000 currency pairs and automatically selects the best rate across all major crypto exchanges for each trade. Built by a team of crypto visionaries with 10+ years of experience in the blockchain space and fintech, LetsExchange saves your time at each step of a crypto swap and amplifies your trading revenue.


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/letsexchange-launches-crypto-trading-service-with-smart-exchange-rates/

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