Polkadot has become very volatile in the crypto market during this 3-month period, although the decline may end in the crypto market. Major cryptocurrencies such as Bitcoin (ETC) and Ethereum (ETH) are in full swing after losing more than half their value, and Polkadot and Terra Luna have begun to reverse. Could this be the biggest bullying change we all expect?
Terra Daily Chart Analysis – Holds 200 daily SMA as support
Terra LUNA coins rallied from August to the end of November, rising from $ 5 to $ 103, as the crypto market shifted to November. Although the situation has worsened for cryptocurrencies and the mood at Terra LUNA has also declined.
The digital currency, the 200-day SMA, fell to $ 43 and lost more than half of its value yesterday. Although the price is closed above that moving average, there is no break. The 200 SMA is currently operating as a support and we saw an average speed drop yesterday. However, we are not seeing a sequel today, which is not a positive sign.
In terms of TVL behind Term, Terra remains at No. 2 but the TVL rate has dropped by 25% since the beginning of last week. This came after it was revealed that Wonderland Treasurer Michael Patrin was not the most trusted name in the industry. Terra is connected to Wonderland through Magic Internet Money (MIM) so this is negative news for Terra. However, the LUNA / USD discount is now off, so let’s see if it can turn into a bullshit.
Polkadot Daily Chart Analysis – DOT faces a major hurdle at $ 23
DOT Coin is now facing support with the 50-day SMA at $ 23 support
Polkadot has developed a V-shape that follows the bullying trend from August to November, but has declined sharply over the past three months. Polkadot auctioned off five parachutes and a body was released live a week ago. This includes the interlock function of the block chain.
Astar Network, one of the winners of the Pulkadot Parachine auction, has recently raised $ 22 million with its financial support, which will enable the network to integrate with Layer 1 blockchains. So, the basic premise seems to be strong for Polkadot and it will definitely start again, which is probably the case now. So, we are following this coin and we can unlock the DOT / USD purchase signal.
DOT / USD