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March 1st - Multiple sources from trading institutions said on February 28th that following the US and Israeli attacks on Iran, Iran announced the closure of the Strait of Hormuz, and several tanker owners and traders have suspended the transport of crude oil, fuel, and liquefied natural gas through the strait. According to the German Shipowners Association, the shipping industry is facing an "acute operational crisis." Reuters quoted an executive of a major trading firm as saying, "Our ships will remain anchored for several days." Satellite images show that many ships are stranded near major ports such as Fujairah in the UAE, failing to pass through the Strait of Hormuz. Container carrier CMA CGM stated that after the US and Israeli attacks on Iran, the group has instructed its ships in or heading to the Gulf region to find safe locations.March 1st - The escalating conflict in the Middle East is poised to inflict the most severe shock on the natural gas market since the outbreak of the Russia-Ukraine conflict four years ago, which disrupted global trade. Irans neighbors, such as Qatar, are among the worlds most important suppliers, and the region is a crucial supply route, with 20% of liquefied natural gas (LNG) exports passing through the Strait of Hormuz, a vital chokepoint for global energy. According to ship tracking data, LNG trade through this narrow waterway has almost completely stalled. Traders say Asian buyers (who source about a quarter of their LNG from Qatar, the worlds second-largest exporter) have been contacting suppliers to inquire about alternative sources. Meanwhile, Egypt is attempting to expedite shipments after Israel shut down some gas fields. Tom Marzek-Manser, Director of LNG and Gas for Europe at Wood Mackenzie, stated, "Any naval activity in the Strait of Hormuz will put significant upward pressure on market prices, as will any progress in Qatari LNG production."Iranian Supreme Leaders advisor Larijani: The armed forces have deployed sufficient resources, paving the way for the continuation of the operation.German Geosciences Research Center: A 6.15-magnitude earthquake struck the Fiji Islands region.Airports South Africa: Airspace closure in the UAE affects flights of Emirates and Qatar Airways.

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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