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1. Sudden Geopolitical Developments: The White House press secretary confirmed that the United States and Iran will hold their first round of talks in Pakistan on April 11. The US delegation will be led by Vice President Vance and others. Iran has proposed a new plan as a basis for negotiations, but the US "red line" demanding that Iran stop uranium enrichment remains unchanged. 2. Risk of Spread from Conflict: The Israeli Air Force launched its largest airstrike against Hezbollah in Lebanon since the start of the conflict (attacking 100 targets in 10 minutes), resulting in 112 deaths and 837 injuries in Lebanon. The Iranian Islamic Revolutionary Guard Corps subsequently issued a strong statement, saying that if the attacks do not cease, Iran is prepared to launch a "heavy retaliation" against Israel that it will regret. 3. Logic Behind Market Fluctuations: Guoxin Futures analysis points out that the previous ceasefire between the US and Iran led to a more than 15% plunge in crude oil prices. Easing inflationary pressures opened up room for the Federal Reserve to cut interest rates. This, coupled with the Peoples Bank of Chinas 17 consecutive months of gold purchases and speculative funds, contributed to the surge in gold and silver prices. Huaxin Futures believes that the speculative attributes of gold are now surpassing its safe-haven attributes, and the recovery in risk appetite has amplified the price increases. 4. Market Trend Analysis: Guoxin Futures believes that considering the US-Iran ceasefire has only lasted two weeks and Trumps policy style is highly volatile, the technical pattern has not yet formed a clear breakout. Four key factors need to be monitored: First, the implementation of the ceasefire agreement; second, Trumps latest statements; third, the subsequent gold purchases by central banks; and fourth, US economic data and speeches by Federal Reserve officials. 5. Dongwu Futures: Looking ahead, a temporary ceasefire does not represent a resolution of the core conflict, and the risk of further negotiation setbacks and fluctuating situations remains. 6. Guangfa Futures: The US-Iran ceasefire agreement was obstructed, Iran closed the Strait of Hormuz, gold prices surged and then sharply retreated, and the Federal Reserve minutes showed divergent attitudes towards inflation and interest rates. Short-term geopolitical shocks are diminishing. (The above content is compiled from publicly available market data and is for reference only, not investment advice.)Germanys seasonally adjusted industrial production month-on-month rate and trade balance for February will be released in ten minutes.ANZ Bank: Oil supply disruptions have significantly tightened the global crude oil supply and demand balance, and the market is rapidly shifting from a supply glut at the beginning of the year to a significant shortage.India’s Minister of Petroleum and Natural Gas will pay an official visit to Qatar from April 9 to 10, 2026.British Foreign Secretary Cooper: We should support the International Maritime Organizations proposal regarding ships stranded in the Strait of Hormuz. Fundamental freedoms of the sea must not be unilaterally deprived or sold out.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

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