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Polkadot price analysis: Bears break through bullish swing by pulling price to $33.43

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  • Price is going down as Polkadot price analysis shows.
  • DOT/USD value has been deflated till $33.43.
  • Support level is reserved at the $25.72 stand.

The price is going low according to the hourly and daily Polkadot price analysis. This is because the bears have managed to escape through the bullish momentum, and red candlesticks have returned to the price charts. More sellers are interrupting the price flow, and DOT is facing bearish resistance. The price had been moving upwards quite consistently, but now it has undergone a reduction to $33 as the bears are powering through.

DOT/USD 1-day price chart: DOT undergoes depreciation after bearish overturn

The price is flowing downwards once again after the bears made a small comeback during the day. The one-day Polkadot price analysis is confirming the downfall as the price can be seen standing on the $33.43 level. The past week proved vital in improving the cryptocurrency’s value, but the trends have undergone a slight shift today. Also, if we talk about the moving average (MA) then it is standing at $32 level, quite close to the price.

Polkadot price analysis: Bears break through bullish swing by pulling price to $33.43 1

The past week had observed a crossover between SMA 20 and SMA 50 which means that chances of recovery might resurface. Moreover, the Bollinger bands Indicator is dictating the following values for the day; the upper value at $35.4 and the lower value at $25.72. The Relative Strength Index (RSI) score has moved down to $25.72 as well.

Polkadot price analysis: Price follows bearish slope as recent upset causes downflow

The four hours Polkadot price analysis is predicting a bearish trend as the price has been constantly declining for the past few hours. The downtrend has been quite unexpected as the price was traveling safe earlier in the day. It has receded back to the $33.46 level which is slightly below the moving average level i.e. $33.62. Further decline in price can be expected as the bearish momentum is extending.

Polkadot price analysis: Bears break through bullish swing by pulling price to $33.43 2
Polkadot price analysis. Source: TradingView

As the volatility has increased, the Bollinger bands average has reached the $32.35 position. Furthermore, the upper and lower values have changed as well; the upper Bollinger band is now at $35.3 whereas the lower band is at $29.40. The RSI curve is moving down as well as the score has reached 56.3, which counts in the neutral range.

Polkadot price analysis: Bears break through bullish swing by pulling price to $33.43 3
DOT/USD technical indicators chart. Source: TradingView

As the price has been at its highest point since the past few months, the overall trend recorded has been bullish. We can see 16 indicators on the buying spot, nine indicators on the neutral spot, and only one indicator on the selling spot.

The moving averages indicator is confirming the bullish trend as well as the price has improved during the past weeks. There are a total number of 14 indicators that are standing on the buying position, one indicator on the neutral position while none is found at the selling position. The Oscillators are indicating a neutral trend, with eight oscillators on the neutral level, two on the buying level, and only one indicator left on the selling side.

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Polkadot price analysis conclusion

The price has undergone a slight reduction today as has been confirmed from the one-day and fours Polkadot price analysis. The bearish candlesticks have reappeared on the price chart as the trends underwent a reversal. The price has been lowered till the $33.43 level after the bearish comeback. But, if the support remains strong at $25.72, there is a chance that the former uptrend may resume.

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Chainlink Whales Own Nearly 25% of $LINK’s Supply After Months Accumulating

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Whales within the decentralized oracle network Chainlink have been steadily accumulating LINK tokens over the last few months, to the point they now own up to a quarter of the cryptocurrency’s supply.

According to data shared by crypto analytics firm Santiment, Chainlink millionaire addresses, holding between 100,000 to 10 million LINK tokens, have been accumulating for months to now hold the largest amount they have held in the cryptocurrency’s history.

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The 175-year-olçd news agency Associated Press (AP) has earlier today revealed it will provide economic, sports and elections data to Chainlink through a new partnership. The move will both improve how data sources value smart contracts and what smart contracts can achieve using AP data.

According to Sergey Nazarov, co-founder of Chainlink, the network’s oracles can bring new data onto blockchains at the rate developers can build interest applications for users, so AP’s signed data can see developers create decentralized finance applications and smart contracts associated with a “wide array of previously inaccessible topics.”

The move saw the price of LINK surge and move out of a trading range it had seemingly been stuck on. Over the last 12 months, LINK is up over 140%.

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LINKUSD Chart via TradingView

Earlier this year, as CryptoGlobe reported, crypto analyst/influencer Elliot Wainman, the owner/host of YouTube channel “EllioTrades Crypto”, told his over 300K subscribers that — according to his technical analysis — Chainlink seems set to go much higher against Bitcoin, which could lead to “an explosion of the oracle coins.”

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Elon Musk Plans To Become The World’s First Dogecoin Trillionaire

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Tesla CEO Elon Musk says that he will become the world’s first Dogecoin trillionaire.
According to a recent prediction by a Morgan Stanley analyst, the SpaceX founder is on his way to becoming the world’s first trillionaire with his relentless amassing of wealth.

A Twitter account called UberFacts tweeted this prediction. Amusingly, the Tesla CEO replied to the tweet, stating that he would be a Dogecoin trillionaire. With that reply, he sent the Dogecoin price soaring again.

As of today, Musk is already the wealthiest man in the world, ahead of Amazon founder Jeff Bezos, who is in second place. According to the Bloomberg Billionaires Index, he has an estimated net worth of $252 billion. The Bloomberg Billionaires Index is a daily ranking of the world’s richest people.

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In July, the tech entrepreneur revealed that he owns Bitcoin, Dogecoin, and Ether.

Elon Musk and Dogecoin

Musk’s net worth has skyrocketed because of Tesla, whose stock price has kept increasing over the months. On Friday, the company’s shares rose to a new high above $900/share. With his current net worth, he is worth more than the entire Gross Domestic Product (GDP) of New Zealand.

On Friday, Twitter account @UberFacts reported the prediction from Morgan Stanley.

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Elon then replied directly to the tweet agreeing that he would be a trillionaire, but in Dogecoin.

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In typical fashion, Musk’s mention of Dogecoin in the tweet resulted in the coin’s price rallying by almost 6% in just an hour. At the time of writing, Dogecoin is trading at $0.247.

DOGE Chart on TradingView.com
Musk's tweet pushes Doge to $0.247 | Source: DOGEUSD on TradingView.com

In July, Musk revealed that he owns Bitcoin, Ethereum, and Dogecoin. However, he has always posted memes about Dogecoin in particular and is constantly weighing in on the meme coin.

In May, the SpaceX founder announced that in 2022, SpaceX will launch a moon mission funded by Dogecoin. He said this is the first time that cryptocurrency will be used in space, and that it will also be the first meme used in space.

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SpaceX Founder’s Net Worth Prediction

According to the Guardian, analysts at investment bank Morgan Stanley have predicted that Elon Musk will become the first trillionaire in the world.

Forbes says that the tech entrepreneur is working to revolutionize transportation both on Earth, through electric car maker Tesla, and in space, via rocket producer SpaceX.

A Morgan Stanley analyst says that he could make much more money from his space exploration business SpaceX than he has made from Tesla.

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The analyst Adam Jonas said that SpaceX was “challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure”.

He added: “More than one client has told us if Elon Musk were to become the first trillionaire … it won’t be because of Tesla. Others have said SpaceX may eventually be the most highly valued company in the world – in any industry.”

Jonas estimates that the privately-held SpaceX, valued at $100bn this month, could be worth $200bn and even more. It is presently the world’s second-biggest privately held company, after the internet firm ByteDance. The SpaceX founder owns roughly 48% of the company.

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It remains to be seen if these predictions about the Tesla CEO will come to pass.

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Russian Hackers Use YouTube Channels to Broadcast Cryptocurrency Scams: Google Report

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Google’s team, together with its partners, had decreased the number of related phishing emails on Gmail by 99.6% since May 2021.

Google’s Threat Analysis Group revealed that cybercriminals have been targeting YouTube content creators in phishing campaigns for the last two years. The bad actors often hijack their channels and either sell them back for a higher price or employ them to broadcast digital asset scams.

YouTubers, Stay Alert

In its report, Google’s team explained that some hackers recruited in a Russian-speaking forum had attacked many YouTubers with “highly customized” phishing emails and cookie-stealing malware. Some commodity malware used included RedLine, Predator The Thief, Vidar, Azorult, Raccoon, Grand Stealer, and more.

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The bad actors also lure their victims through social media pages or online games. Their main target is the channels of high-ranked YouTube content creators, which they can later sell for a high price or broadcast crypto frauds on them.

Google’s team asserted that it is not the only company that worked on the alert. It collaborated with YouTube, Trust & Safety, Gmail, CyberCrime Investigation Group, and Safe Browsing terms.

Following the mutual efforts, the group decreased the number of related phishing emails on Gmail by 99.6% since May 2021. Additionally, it blocked 1.6 million messages to victims, displayed nearly 62,000 Safe Browsing page warnings, restored around 4,000 accounts, and blocked 2,400 files.

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“With increased detection efforts, we’ve observed attackers shifting away from Gmail to other email providers (mostly email.cz, post.cz, and aol.com). Moreover, to protect our users, we have referred the below activity to the FBI for further investigation,” Google’s Threat Analysis Group concluded.

How to Protect Yourselves?

In its report, Google gave some advice to YouTubers on protecting themselves from such phishing attacks.

First, users should take safe browsing warnings seriously and must perform virus scanning before running an unknown software.

Another helpful tool would be enabling the “Enhanced Safe Browsing Protection” mode on the Chrome browser – a feature that warns about suspicious web pages and files.

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YouTube verification is also a must as it provides an extra layer of security to one’s account in case the password is stolen.

The Attacks on Steve Wozniak And Cardano’s Founder

Last year, one of Apple’s founders – Steve Wozniak – filed a lawsuit against YouTube for not taking necessary actions to prevent fake Bitcoin giveaways with his involvement.

At their core, such scams usually begin live streams on YouTube impersonating famous individuals (this time Steve Wozniak) and offer to double all BTC funds victims send to particular addresses. Needless to say, all people that fall for such dubious activities never receive the promised funds.

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After almost a year, he lost the case as his arguments were not strong enough, reasoned the court.

Cardano’s founder Charles Hoskinson also threatened YouTube with a class-action lawsuit as the platform had failed to protect users from fake crypto giveaways. He also blamed Twitter for such inaction and accused the two giant companies of benefiting from the ongoing scams. As such, he vowed to investigate the matter thoroughly.

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