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DHT Coin Price in Downtrend Since 8 Months, What is Ahead Now?

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DHT Coin Price in Downtrend Since 8 Months, What is Ahead Now?
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dHEDGE is a non-custodial asset management protocol that is decentralized and built on Optimism and Polygon, which are Layer-2 scaling solutions built on Ethereum. The protocol enables individuals to allocate funds to asset managers in a censorship-resistant and non-custodial manner. 

The Technology and Working of dHEDGE

dHEDGE uses blockchain technology to create a permissionless protocol that allows individuals to retain full ownership over their assets. They also, at the same time benefit from the expertise of asset managers. Users can easily connect any ERC-20 compatible wallet to the dHEDGE app (dApp) to buy, store, and sell trust-minimized vault tokens at any time without lock-ups.

One of the key benefits of the dHEDGE protocol is its transparency. The Ethereum Virtual Machine blockchain records every vault’s trades, deposits, withdrawals, and vault treasury as immutable transactions. Users can easily track all of the transactions in a trust-minimized vault by viewing their vault’s contract address on the blockchain. 

Non-Custodial Behavior and Operation

dHEDGE is non-custodial, meaning that users retain ownership over their funds, and asset managers cannot run away with individuals’ funds. The protocol is also decentralized, aiming to create a permissionless, immutable, and safe environment for investors and asset managers. All transactions are verifiable and recorded on the blockchain as transparent and immutable transactions.

dHEDGE operates vaults across the Polygon and Optimism blockchains. Managers can easily create a vault through the dHEDGE app and each vault is created as its contract. Vaults operating on each chain are restricted to trading and depositing specific whitelisted assets, along with certain eligible whitelisted protocols. This means that each type of vault may operate differently and have different exchanges, protocols, or assets available for managers to utilize. Individuals may invest in any of the vaults as long as they are properly connected to the associated network via their wallets.

Technical Analysis and Prediction of DHT Coin Price 

DHT Coin Price in Downtrend Since 8 Months, What is Ahead Now?
DHT/USDT chart by TradingView (Daily time frame)

The present trading price for the DHT coin is $0.115. The bears are looking to be active after the 60% growth of the last day. The bulls have done their job and are seeking support at the levels of $0.098 and $0.0703. Meanwhile, the bears will be active on the resistance levels of $0.137 and $0.159.

DHT Coin Price in Downtrend Since 8 Months, What is Ahead Now?

The current price prediction is bearish taking into account the overbought zone of RSI and the gap between its SMA levels of 53. However, some bearish volumes have been seen since the start of this day’s trading sessions. 

Conclusion

dHEDGE uses blockchain technology to create a permissionless protocol that allows individuals to retain full ownership over their assets. All transactions are verifiable and recorded on the blockchain as transparent and immutable transactions. The current price prediction is bearish because the RSI is in an overbought zone.

Technical Levels

  • Support Levels: $0.0982 and $0.0703
  • Resistance Levels: $0.137 and $0.159
Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.

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