DODO Coin Analysis: DODO faces Numerous Attacks on Liquidity Pools

DODO is under attack; plunge in price level can be observed
  • DODO coin slips below $4.73 and is now trading at $3.96 on Tuesday’s trading session
  • In the money, 90% of addresses are holding DODO with a volume of 902.22 million
  • The DODO/BTC pair was trading at 0.00007435 BTC with a loss of 7.50%
Source: DODO/USD on TradingView

The 4-hour technical chart of DODO projects a downtrend. Investors are intended to sell DODO for a short term trade due to negative fundamentals. According to pivot points, DODO’s critical support level is placed at $3.82. Whereas if it moves up, the key resistance level to watch is $4.73. While diving into the weekly chart of a 4-hour time-frame, it completes an inverted bearish hammer candlestick pattern. A bearish inverted hammer denotes a change in trend.

SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) intersects below the SMA-100 (white), which projects a bearish trend. The price is testing the SMA-50. If it sustains above both the SMA, Investors can observe a trend reversal. 

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RSI indicator (BEARISH), with a value of 45, indicates a sell signal in the coin. Moreover, Investors can see a decrease in value from 65 to 45; it may plunge more in future trading sessions.

Technical In/Out Of The Money Chart  

Source: Intotheblock

The chart shows all addresses which are currently holding DODO. Furthermore, at the minimum price of 0.41 to a maximum price of $1.09. The investors held a total of 901.19M DODO in total 917 different addresses, which is 90.22% in the money. While on the other side there is a 77.47M DODO held by the investors at the price of $4.80 to $6.84 in total 3.26K different addresses. Which is 7.75% at the money.

The DODO Decentralized Exchange Has Revealed An Attack

The Chinese-based DODO mechanized market creator has announced that a few of its version 2 crowd pools were assaulted on March 8. It expressed that the WSZO, WCRES, ETHA, and FUSI pools were affected, while AC pool reserves have been completely recuperated.

Close Your Positions In DODO

DODO coin traded at $4.0 with a neutral movement of 0.70% in the last 24-hour. However, DODO is negative, with -5.98% loss on the weekly time-frame. In contrast, the market capitalization stands at $39 million. Technically, investors can perceive a negative crossover in SMA. Moreover, DODO is also facing attacks on their exchange. In future trading sessions, the price movement can move towards the support of $3.82.

Resistance: $4.73

Support: $3.82

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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