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While the foreign exchange market continues its unhurried movement, pilots of cryptocurrency missiles are already directing their ships "natives" with might and main.
One thing unites them - in both markets we arewitnessing how the US dollar is losing its previously gained positions, retreating under the onslaught of the monetary policy of its own regulator - the FRS. This policy is aimed at accelerating inflation through a quantitative incentive program. The printing press puffs, smokes, and produces newborn greenbacks. Almost on a planetary scale. All this has begun to bear fruit - the hinges of the American economy are “lubricated” with green fuel and are starting to operate at new capacities. The latest data on GDP, labor market and, above all, inflation show that the Fed is achieving its goals with a confident step. Now the main task of the Fed (according to Jerome Pi's grandfather) is to keep inflation slightly above 2% for a long period.
What is inflation?This is nothing more than a cheapening / depreciation of money. So the current mission of the Fed is to weaken the dollar. This is exactly the picture we see in the currency, stock and crypto markets. The only BUT: if the euro, pound and other currencies are still barely stepping on the heels of the buck (since they themselves are not fools to print national state signs), then the crypto market has now received such a boost (acceleration), which we have not seen for a long time! And if the first five coins have already been dismantled far and wide, the 6th Polkadot coin is not yet so well covered in the cryptocurrency "press". Why is this digital currency so good?
Polka is a technology designed to increase the interoperability of various blockchains, such as Bitcoin and Ethereum, and combine them into a single multiblockchain.
It aims to address the key issues preventing digital block technology from becoming a full-blown practical application, namely:
- Scalability:so-called first generation blockchains cannot handle a huge number of transactions in the supposed decentralized world of the future. While the network nodes process transactions in a one-to-one format. This factor is holding back the further growth of the network.
- Isolation: Blockchains remain discrete and independent, lacking two-way communication and interoperability.
Now Polkadot technology is being integrated into many digital networks / terminals, which also positively affects its future prospects.
So literally a few days ago, the platformExchange Aggregation Orion Protocol has announced that it will connect to the Polkadot ecosystem through the integration of Orion Terminal and the Moonbeam Network, an Ethereum EVM compatible smart contract platform.
However, fundamentalum is fundamental, and nobody canceled technical analysis!
Let's take out our cryptomicroscope and take a look at the polka with all the passion.
CLOSE THE CHART ON TRADING VIEW
On the daily timeframe, we see a stableupward trend. Now the price is in a corrective phase to the trend. From local support (green) and resistance (red) lines. A "triangle" shape is being formed. Near the lower border of the channel, there is also a red horizontal line POC (point of Control) - the futures level of the maximum volume. If from this zone we see the formation of a reversal pattern (123 or zigzag) with the breakout of the upper border of the triangle, then we wait for the RETEST of the broken level from top to bottom and enter into a buy (with a successful retest) with targets - a local maximum - 46.8 and a powerful psychological level - fifty... For selling, the same rules apply, only the lower border of the triangle must already be broken and tested, in which case the price can return to the internal trend line + 23 Fibo level - 37 dollars for a coin.
Friends, of course, all the author's thoughts are not a guide to action, but his modest view of the development of further events for the selected asset!
Good and thoughtful investment for you!
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