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CATEGORY: flag


May 23, 2024 12:05

Ethereum Rally Looms: Analyst Predicts ETHs Next Stop Is $5,300

Titan of Crypto, a well-known cryptocurrency trader and expert, in a daring prediction that has drawn the attention of the crypto community, forecasting an impending significant rally for Ethereum (ETH) to unprecedented heights while putting his next price target for the crypto asset at the pivotal $5,300 level. The analyst’s prognosis indicates that Ethereum, fueled by favorable market circumstances and rising investors’ confidence, is poised for massive gains. This forecast comes at the heel of ETH’s recent robust price performance and increasing market optimism. Ethereum Path To Massive Rally In February, Titan of Crypto hinted at the formation of a Bullish Cypher Pattern on Ethereum‘s weekly chart. “Just like for Bitcoin, a bullish cypher pattern is currently playing out on ETH weekly chart as well,” he stated. Related Reading: Ethereum Price Rally: Far from Over, More Gains Ahead! Due to this, the expert pointed out several targets for the asset to reach in the near term, such as $2,410, $2,881, $3,353, and $4,024, indicating a 38.20%, 50.00%, 61.80%, 78.60% upswingm respectively, from the current price then. Earlier this month, Titan of Crypto noted that the bullish cypher pattern has successfully developed, and the aforementioned price targets have all been achieved, suggesting a substantial rally is on the horizon. At that time, the crypto expert underscored that ETH was at the 38.2% Fibonacci retracement level, which he also dubbed the 1st stop ($2,880). Should the coin manage to sustain this level, Titan of Crypto anticipates a move on the upside from the level. However, today, as predicted by the expert, Ethereum performed a flawless recovery from the 1st stop ($2,880) point. As a result, the crypto asset is currently forming a bull flag pattern on the weekly timeframe, citing $5,300 as the next price target for ETH to reach.  However, this is not the final destination, suggesting the potential for Ethereum to surge even higher in the upcoming months. With ETH displaying strong price performance, it could mean that the Altcoin season could be coming into play in the near future. Indicator That Suggests A Price Correction On The Downside Although Titan of Crypto anticipates a massive rally for ETH, Ali Martinez has underlined the potential for the asset to decline soon.  According to Ali Martinez, the TD Sequential indicator on Ethereum’s 4-hour timeframe on May 15, previously displayed a promising buy signal. This development practically led to a 32% rise in the price of Ethereum. Related Reading: Expert Sets Timeline For When Ethereum Price Will Begin Rally To $10,000 However, now that the ETH Spot Exchange-Traded Funds (ETFs) are generating so much buzz, the indicator has transitioned to a sell signal. Consequently, Ali Martinez predicts a downward correction of one to four candlesticks. At the time of writing, ETH had increased by over 28% in the past week, trading at around $3,728. Despite the recent price momentum, the asset’s market cap and trading volume are down by 1.56% and 28%, respectively. Featured image from iStock, chart from Tradingview.com

May 22, 2024 12:05

Shiba Inu Breaks Out Of Bull Flag Pattern-Like, Signaling Uptrend

In a noteworthy development for Shiba Inu investors and traders, well-known cryptocurrency analyst and enthusiast Javon Marks has verified SHIB’s break out from the Bull Flag pattern, an indicator that typically signals the start of an upward price movement. Shiba Inu Breakout To Trigger A Continuation 210% Price Increase Mark’s emphasis delves into the current bullish momentum surrounding Shiba Inu, which has caused traders and investors in the meme coin market to feel optimistic once again, indicating that the crypto asset could be positioned for more gains. Related Reading: If This Happens, Shiba Inu Price Could Double Soon According to the expert, SHIB has now exited a smaller Bull Flag-like pattern, and it is currently holding above it. This breakout appears to be significant as Javon Marks noted that it could start another major wave in an already enormous run on the upside. Specifically, this lesser break can trigger a continuation in an over 210% (3X) run to $0.000081 from the $0.0000254 level, provided that the larger breakout also holds. In addition, should Shiba Inu surpass the $0.000081 level, it might be poised for an additional 90% increase to the $0.0001553 mark. The post read: With a larger breakout also holding, this smaller break can initiate a continuation in an over 210% run to the $0.000081 target which is more than 3X from here. A break above $0.000081 and SHIB may just be set for another +90% move to $0.0001553. The analyst further drew attention to his previous forecasts, in which he predicted a run to the $0.000081 price level. He previously noted that Shiba Inu has made a strong comeback and appears to be primed for yet another huge surge towards the $0.000081 target. Thus, given the progressive breakout from the resisting trend, another 141% upside move to hit the aforementioned price target may not be far off. Also, following price declines, SHIB will garner strength to reach the level and move even higher to $0.0001553. Pullbacks To Buttress The Move Javon Mark affirms that since SHIB’s break out from the resisting trend, it has increased by over 129%, suggesting that a run is well within reach. At this point, Marks claims that as long as current prices maintain their breakout, pullbacks might only enhance these prices. Additionally, an extra 252% price increase toward $0.000081 will be aided by these pullbacks. Related Reading: Shiba Inu Price Makes Decisive Move: Is Now The Ideal Time To Buy? It is important to note that the analyst’s prediction began when SHIB ended a 441-day downtrend in September last year. Given the significance of the development, Marks believed SHIB was about to surge, putting his target at $0.000081, a 975% rise from $0.0000074. As of the time of writing, Shiba Inu was trading at $0.0000257, demonstrating over 6% growth in the past day. Both its market cap and trading volume have also attracted significant gains of about 6.83% and 147%, respectively. Featured image from Shutterstock, chart from Tradingview.com

May 03, 2024 12:05

Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag

An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin's price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com

May 17, 2025 05:50

How Bitcoin Bull Flag & Profit-Taking Signals Signal a Rally to New Price Highs

Bitcoin is currently displaying a bullish flag pattern, indicative of a potential breakout to new price highs in the near future. After experiencing a standard profit-taking phase, Bitcoin is poised for a rally that could push its price to unprecedented levels. The bullish flag pattern is a continuation pattern that usually signals a brief consolidation [...]

May 14, 2024 02:30

Shiba Inu On The Rise: Analysts Predict a Potential Target of $0.0000445

Shiba Inu (SHIB), a well-liked meme-oriented cryptocurrency, has passed through a lull period. After being quiet for some time, its value is on the rise again. Shiba Inus price currently stands at $0.00002367, with a trading volume of $334.98 million over the last 24 hours. Also, its total market capitalization reaches $13.95 billion for Shiba […]

May 11, 2025 12:10

XRP Price To Rally To $6: Partially Completed Wave 5 Says Theres Still Room To Run

Bulls appear to be regaining control over the market again as the XRP price gears up for a potential rally to $6. According to a crypto analyst, this forecast is rooted in the Elliott Wave Theory, which indicates that Wave 5, which is the final and usually the most explosive leg up, is getting ready to run.  Elliott Wave 5 Signals XRP Price Explosion In one of his latest Elliott Wave analyses, X (formerly Twitter) crypto expert Dark Defender forecasts a powerful rally for the XRP price, suggesting that the third-largest cryptocurrency could skyrocket to $6 soon. According to the analysis, XRP has been moving in a predictable wave structure since February 2025, and recent price action confirms the partial completion of the monthly Wave 5 bull pattern.  Related Reading: XRP Price At $9 In September: Gann Angle Resistance Grid Predicts Surge The chart shows that since February, XRP has been following what Dark Defender refers to as the green path, aligning with the expected trajectory of the Monthly Wave 4. This wave has recently concluded after unfolding into five smaller sub-waves, highlighting a precise and structured technical behavior.  The fourth sub-wave peaked at around $2.36, a level previously identified as a key confirmation point. As predicted, the XRP price bounced off this level before retracing to $2.07, forming the final leg of sub-wave 5 of the monthly Wave 4.  XRPs current bullish setup reveals that the monthly Wave 5 is now in its early stages, with the drop to $2.07 possibly marking the bottom of the corrective structure. Dark Defender emphasizes that while Wave 5 has already begun, the larger upward move still awaits full confirmation, indicating that there may be significant room left for XRP to rally.  Technical projections place the potential upside target of this Wave 5 near $6.85, representing a sharp bullish breakout if market momentum aligns with the expectations of the wave structure.  Analyst Says The Real Bull Rally Is About To Begin The XRP price is approaching a major technical breakout, as crypto analyst CW highlights the emergence of a classic bull flag pattern. After experiencing months of consolidation, the analyst suggests that the next explosive leg in XRPs price action may be around the corner.  Related Reading: XRP Price Still On Bullish Path To $5 As Long As This Level Holds The daily chart reveals a clear bull flag structure, formed after XRPs powerful rally in 2024 when its price jumped from $0.5 to over $2. This aggressive and unexpected move created the flagpole, followed by a multi-month period of consolidation, forming the descending flag pattern.  Now, XRP is testing the upper boundary of the bull flag, trading just above $2.36 at the time of the analysis. A decisive breakout and close above the resistance trendline could trigger a fresh wave of bullish momentum. According to CW, this breakout would mark the beginning of a true bull rally for XRP. Featured image from Pixabay, chart from Tradingview.com

Mar 29, 2024 12:05

Bitcoin Bull Flag Could Predict 10% Surge To $77,000, Analyst Explains

An analyst has explained that a breakout from a bull flag pattern could lead Bitcoin to surging towards a new all-time high of $77,000. Bitcoin Has Been Forming A Bull Flag Pattern Recently In a new post on X, analyst Ali has discussed about a bull flag recently forming in the 4-hour price of the cryptocurrency. The “bull flag” here refers to a pattern in technical analysis that, as its name implies, looks like a flag on a pole. In this pattern, a sharp uptrend is succeeded by a period of consolidation towards the downside. The uptrend makes up for the pole, while the consolidation period acts as the flag. Related Reading: Dogecoin Soars 17% To Break $0.21 As Volume Explodes When the price is trapped inside the flag, it tends to find resistance at its upper line, so tops may be probable to form there. Similarly, the lower line may act as support, thus facilitating for bottoms to take shape. The bull flag is usually considered to be a continuation pattern, meaning that the prevailing trend (that is, the trend of the flag) would continue once the consolidation period is over. This happens when a break above the resistance line takes place. The uptrend emerging out of such a break may be of the same height as the pole. If the asset falls under the support line, though, the pattern could be considered invalidated. Like the bull flag, there is also the bear flag pattern, which works similarly except for the fact that the pole in this case corresponds to a downtrend while the flag is generally a consolidation channel angled upwards. Just like the bull flag, a continuation of the prevailing bearish trend may follow this formation. Now, here is the chart shared by Ali that shows the bull flag that BTC’s 4-hour price has recently been consolidating inside: Looks like the price of the asset has been breaking out of this pattern recently | Source: @ali_charts on X From the graph, it’s visible that the 4-hour Bitcoin price has appeared to have been consolidating inside this bull flag over the last few days. It’s also apparent that, in the past day, BTC has been climbing above the resistance line of the pattern. This could mean that the cryptocurrency is preparing a break out of this formation. Naturally, the asset would have to show more momentum before the breakout can be confirmed. Related Reading: Bitcoin Liquid Inventory Ratio Hits All-Time Low, What It Means “If BTC holds above $70,000, we could see a surge of nearly 10% to a new all-time high of $77,000!” says Ali. The analyst has chosen this target as such a swing would be of the same length as the pole that had preceded this flag. BTC Price Bitcoin has so far been heading in a direction that would add more credence to the breakout, as its price has now broken past the $71,300 level. With this surge, BTC investors would be enjoying profits of more than 7% over the past week. The price of the asset appears to have surged over the past 24 hours | Source: BTCUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com

Mar 03, 2025 12:05

Stellar (XLM) Chart Signals Major Rally Is A 330% Surge Coming?

The Stellar (XLM) market has registered a price boost in the past day gaining by 10.77% according to data from CoinMarketCap. This price bounce comes after a rather bearish week marked by significant losses across the general crypto market. Interestingly, as these digital assets show some minor recovery, renowned market analyst Ali Martinez has postulated that XLM may be preparing for a major bullish swing. Related Reading: Solana Jumps 9% As Whales Quietly Accumulate MillionsDetails XLMs Bullish Flag Could Propel Prices To $1.20 – Analyst In an X post on March 1, Martinez shared an interesting technical analysis of the XLM market.  According to the market expert, there is a bullish flag formation on the XLM/USDT 3-day trading chart signaling an incoming price surge. For context, the bullish flag pattern occurs when an asset experiences a steep rise in price representing the flagpole followed by a consolidation period with a declining price movement representing the flag. On the XLM/USDT chart, the bullish flag is formed following a price rally in November 2024 which is trailed by a price correction phase to date. However, while the bullish flag might signal a potential upward momentum ready to explode, Stellar must break beyond the upper boundary of the flag currently at $0.41 to confirm any price surge. Looking beyond this level, the altcoin will also face significant resistance to its upward movement at $1.00, $1.21, and $1.41 price levels respectively. However, in the presence of sufficient buying pressure, XLM could surge by at least 330% upon confirmation of bullish intent suggesting a minimum price of around $1.20. This projected rise of Stellar stems from historical data from which a bullish flag is expected to produce market gains similar to the length of its flagpole. Interestingly, the Relative Strength Index (RSI) on the XLM/USDT daily chart also supports the bullish potential of the altcoin. According to data from Tradingview, this RSI is currently at 4.59 headed in the upward direction, signaling more room for XLM price gains following its recent recovery. Related Reading: Dogecoin Holds Critical Support Level Can Bulls Reclaim $0.25? XLM Price Overview At the time of writing, XLM trades at $0.3141 after its 10% price increase in the last 24 hours as earlier stated. Meanwhile, there is a slight reduction in market engagement as indicated by a 1.12% decline in daily trading volume. It is worth noting that XLM still remains in the red zone on its weekly and monthly timeframes with losses of 5.94% and 27.28%, respectively suggesting larger bearish market control in recent times. For a bullish flag breakout to materialize, XLM traders must increase the current buying pressure and induce a higher trading volume. Featured image from Bitpanda, chart from Tradingview

Mar 14, 2024 12:05

Cardano (ADA) Price Rally Is Far From Over, Heres Why

Cardano (ADA) has notably trailed behind that of its contemporaries in the ongoing crypto bull run. While Bitcoin has surged to record new all-time highs, alongside a suite of other altcoins, ADA remains approximately 77% beneath its peak historical value. However, emerging technical patterns and market dynamics suggest that this trend could be poised for a reversal, with ADA potentially gearing up to narrow the gap. Cardano Bull Flag Formation: An In-Depth Look Central to this analysis is the bull flag pattern in the ADA/USD weekly chart. The bull flag pattern observed here is composed of two primary elements: the flagpole and the flag. The flagpole is a significant vertical ascent in price, representing a rapid increase in buying pressure. For ADA, this pole formed from mid-October till mid-December and reflects an approximate 185% surge. The flag, following the pole, is a period of consolidation with a downward slope, resembling a flag on a pole. For ADA, the pole developed from mid-December to early February. A subsequent breakout above the flag can often lead to a price rally proportionate to the initial pole’s height. Related Reading: Cardano (ADA) Price Alert: Analyst Predicts 60% Rally In Next 7 Days The Cardano price already broke out and surpassed the crucial resistance at $0.685. If ADA further follows this technical playbook, the rally is far from over. The projected target would be an 185% increase from the consolidation zones breakout point, placing the price close to the Fibonacci 0.382 retracement level, which is around $1.35. Remarkably, the Cardano price must first overcome the 0.236 Fibonacci retracement level at $0.92, an area where greater selling pressure and possibly a shorter consolidation can be expected. Golden Cross And More Bullish Arguments The chart also teases the formation of a golden cross, a bullish signal where a shorter-term moving average (the 50-week EMA) crosses above a longer-term average (the 200-week EMA). Such crossovers can often signal a shift in momentum from bearish to bullish over the long term, and their significance is heightened on a weekly chart, which filters out short-term market noise. Traders often view this crossover as confirmation of a trend reversal, with the potential to catalyze sustained buying activity. For ADA, this could be the final confirmation of a strong bull move. Related Reading: Cardano Price About To Explode: Crypto Pundit Reveals Next Target Beyond that, the weekly chart for ADA presents a broader narrative. The Relative Strength Index (RSI) sits just above the overbought threshold at 74, which indicates strong buying momentum with more room to the upside. The volume, though lower than during the peak periods of 2021, is consistent, suggesting a stable interest in ADA trading without the panic sell-offs seen during sharp declines. Moreover, a series of Exponential Moving Averages (20-week, 50-week, 100-week, and 200-week) provide further context as ADA is trading above all of them. Notably, the 200-week EMA has recently acted as a very strong support for the price, indicative of long-term bullish sentiment. The 50-week EMA is trending upward, which could solidify support levels in the intermediate term. The 100-week and 200-week EMAs are further below the current price, potentially serving as long-term support levels in case of a price retracement. In addition, the Fibonacci retracement levels drawn from the all-time high to the low of the ADA bear market provide long-term price targets. Following the bull flag conclusion, the 0.5 level at $1.697, marking the halfway point of the previous swing high to low, could serve as a next target for the bulls. Thereafter, the 0.618 Fib at $2.04, the 0.786 Fib at $2.54 and finally the all-time high at $3.17 would be subsequent price targets. In conclusion, while the bull flag and the impending golden cross are the stars of the show, other factors such as moving averages, RSI, and Fibonacci levels add depth to the bullish narrative for the Cardano price. Featured image from Shutterstock, chart from TradingView.com

Jun 29, 2023 04:45

Ethereum (ETH) Price Drops Due Whale Selling, Key Levels To Watch

Ethereum (ETH), the second largest cryptocurrency by market cap, experienced a price drop of over 3% within the last 24 hours. The reason is presumably a significant sell-off carried out by a prominent whale. The whale deposited 25,000 ETH (worth around $47.24 million) on Binance, only to withdraw a significant amount of USDT shortly afterwards. As the on-chain data provider Lookonchain reports, the whale has probably already sold a part of his ETH. According to the on-chain data, the whale withdrew 16 million in USDT. “The drop in ETH price [a few hours] ago was most likely due to the sell-off of this whale,” the analysts note, further explaining that the whale still owns around 8,000 ETH ($14.7 million) unsold. Nevertheless, ETH bulls continue to show strength. A look at the 1-hour chart of Ethereum reveals that the price has formed a bull flag. In technical analysis, a flag is a short-term consolidation pattern that occurs after a strong price move and indicates a temporary break in the trend. Related Reading: Ethereum Price Grinds Lower As The Bulls Take Back Seat A bullish flag forms during an uptrend with the flagpole pointing upwards, followed by a consolidation phase before a possible continuation of the upward movement. For now, the pattern has held, ETH has bounced up from the 4H 200 EMA at $1,825. In this respect, the bulls remain in control (despite the whale) for the time being. Basically, two scenarios are conceivable. If the aforementioned support levels are broken to the downside, especially the underside of the flag, Ethereum could face a further price decline towards $1,750. Conversely, a breakout from the flag pattern to the upside (around $1,900) could trigger a price rise towards $2,000. Related Reading: Ethereum Poised To Break $2,000 As $12 Million Short Seller Nears Liquidation However, according to analyst Ali Martinez, that’s where the price will hit Ethereum’s key supply wall, which is in the $2,000 to $2,060 range, where 832,640 addresses have bought over 26 million ETH. “If ETH can break through this resistance barrier, we can expect an upswing to $2,330 or even $2,750,” Martinez believes. Ethereum Options Expiry On Friday Confirms Outlook The most important event this week for Bitcoin, Ethereum and the entire crypto market will be the expiration of over $7 billion in options tomorrow, Friday, June 30. The current options volume on the largest exchange Deribit is 14,107 calls, 9,445 puts and a put-call ratio of 0.67 for Bitcoin. For Ethereum, there are currently 76,776 calls, 39,779 puts and a put-call ratio of 0.52. Options Volume [Deribit]$BTC: ??Calls=14,107.70, ??Puts=9,445.50, ??Put-call ratio=0.67 $ETH: ??Calls=76,776.00, ??Puts=39,779.00, ??Put-call ratio=0.52 — coinoptionstrack bot (@optionstrackbot) June 29, 2023 A put-call ratio below 1 typically means that the number of call options is higher than the number of put options, which indicates a more bullish market sentiment. In this case, the put-call ratio for ETH is 0.52, which means that there are more call options compared to put options. Thus, the ratio indicates that market participants are more prone to bullish bets on the ETH price. Featured image from iStock, chart from TradingView.com

Forta detected and flagged the Olympus DAO hack before it happened

Author: noreply@blogger.com (Unknown)
United States
Oct 25, 2022 11:10

Forta detected and flagged the Olympus DAO hack before it happened

In a tweet on September 21, Forta, the decentralized network that detects threats and anomalies on DeFi, NFT, governance, bridges and other Web3 systems in real-time, claimed to have detected and flagged the $300,000 Olympus DAO hack before it took place.  

Although the hacker later returned all the 30,437 OHM tokens worth about $300,000 that they had stolen, Forta’s tweet resulted in a thread of tweets from the community wondering why the hack still took place despite Forta raising the alarm.

The OlympusDAO hack: what went wrong?

On September 21 at 1:22 am ET, A Hacker was able to drain 30,437 OHM tokens from a smart contract on Bond Protocol that Olympus DAO operated. According to security firm PeckShield, the hack took place because of a failed verification of the malicious fund transfer request from the hacker.

PeckShield said:

“The affected contract, known as ‘BondFixedExpiryTeller,’ was used to open bonds denominated in the Olympus DAO’s OHM tokens. The contract lacked a validation input in the ‘redeem() function,’ which allowed the attacker to trick input values to redeem funds.”

Forta’s claim of detecting the hack before it took place also mentions the same ‘BondFixedExpiryTeller’ smart contract. Forta in a tweet said:

“Minutes before the attack happened, Forta’s suspicious contract bot, powered by machine learning, fired indicating that @OlympusDAO’s BondFixedExpiryTeller contract was about to be attacked”

The hack still took place despite Forta’s detection

The Olympus team in the official Discord acknowledged that the hack took place saying:

“This morning, an exploit occurred through which the attacker was able to withdraw roughly 30K OHM ($300K) from the OHM bond contract at Bond Protocol.”

While responding to concerns about why the hack still took place despite prior flagging, Forta said:

“That alert fired just 21s after the contract was deployed and 1min and 39s before the attack. Although human intervention might not have prevailed, it is clear that leveraging monitoring to build circuit breakers into protocols should be a critical part of Web3’s future.”

But it is still not clear how Olympus would have responded to the alert from Forta since some believe pausing the contract would have attracted a DDOS attack.

One by the name of Taiga while responding to Forta on Twitter said:

“How would you recommend acting in this case? If they would of automatically paused the contract based on this alert then they would be susceptible to DDOS attacks where I would spam-deploy odd contracts referencing their address. Genuinely curious how to best use Forta.”

Another by the name of Christian Seifert said:

“I think pause is a big hammer. I think a more nuanced approach is needed that slows down the attacker/ mitigates the attack, but leaves the protocol still functioning for reg users. Time locks come to mind, but this needs to be fleshed out more.”

However, taking everything into consideration just as one of the Twitter responders highlighted “half the battle is early detection. The other half is prevention. The second half hasn’t mattered historically because early detection wasn’t a thing. Now that it is, the focus shifts to prevention mechanisms, and this needs to be implemented at the application level.”

The post Forta detected and flagged the Olympus DAO hack before it happened appeared first on Invezz.



from Cryptocurrency – Invezz

What is a bull flag chart pattern and how to spot it?

Author: Cointelegraph By Onkar Singh
United States
Oct 09, 2022 12:00

What is a bull flag chart pattern and how to spot it?

A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise.

Aug 09, 2022 11:10

What are Crypto Pump and Dump Groups?

If an obscure token suddenly shoots up and value then immediately goes down the same amount as well, a pump and dump group may be behind it.

The post What are Crypto Pump and Dump Groups? appeared first on BitPinas.

Mar 01, 2022 02:55

Six NFT Red Flags to Avoid and How to Spot Them

This is the BitPinas guide for avoiding scams and rugpulls in NFT as we list down 6 NFT red flags that Filipinos must stay away from.

The post Six NFT Red Flags to Avoid and How to Spot Them appeared first on BitPinas.

Ethereum bulls retain hopes of $10K despite ETH price chart bear flag

Author: Cointelegraph By Yashu Gola
United States
Dec 06, 2021 04:50

Ethereum bulls retain hopes of $10K despite ETH price chart bear flag

Ethereum risks dropping to $3,200 as its latest ETH price decline triggers a classic bearish setup.

How To Make It Big Trading The Bull Flag

Author: Owotunse Adebayo
Germany
Oct 29, 2021 07:10

How To Make It Big Trading The Bull Flag

One of the most beneficial prowess a trader can have in the market is identifying patterns. Often, traders tend to follow the trend line of digital assets without going deeper into what it signifies. Some traders do not need to know other characteristics behind a trend line. They need to see where the trend line is and when to enter the market. This move often leads to a loss in the end. In this article, we will be looking at the bull flag and how traders can trade it to make massive profits in the market.

What is a Bull Flag?

A bullish flag is the movement of a trend line upward after a brief pause. In this case, the trend makes a strong trade upwards. A bullish flag is a group of trend lines in between two poles. The poles, in this case, are the two parallel trend lines denoting a sharp upward trade-in price. The flag, in this case, is the consolidation trend between the poles on either side.

The first pole is created due to massive buying, which pushes the price of the asset upward. The flag is made as a result of slight profit taking by traders in the market. This profit-taking forces the trend line to trade in a range. The last pole is created due to the buying power that supersedes the profit-taking at the period.

How To Identify A Bull Flag?

Identifying a bull flag on a trend line can be quite tasking. This is because several components make up the bullish flag. To pick out the bullish flag, traders must need a lot of discipline, concentration, and focus. Some of the components are the preceding uptrend, which is the first pole. Another component to watch out for will be the flag.

A consolidation move across a range denotes it. However, traders need to note that it is no longer a bull flag once the consolidation is more than 50%. This means that the retracement must be about 38% of the original price when the uptrend occurred. Lastly, another pole to signal the last break out to complete the formation of the bull flag. This signifies that the price has been able to break out of its upper channel resistance.

What Is A Bullish Pennant?

An ordinary untrained eye will miss the bullish pennant for the bullish flag at a first look. They both look the same way and are characterized by a massive spike in asset prices. However, the main difference is that a pennant has a triangle shape when it consolidates. The main characteristic of a bullish pennant is the emergence of successive highs and lows on the trend.

To break it down, a bullish flag's consolidation forms between a range while that of a pennant doesn't. To identify a bullish pennant, traders confirm with other indicators. Notably, a trader should use trade volume to decide when to enter the market during either one of the two. This is because it will help a great deal to identify breakouts and know the momentum behind the asset.

How To Trade A Bull Flag

Identifying and knowing everything about the bullish flag is one thing; knowing how to trade it is the main objective. Traders enter the market to make profits and tend to learn how to do that without mistakes. To trade a bull flag, traders need to watch out for the volume of the asset in question. This is because it is only the volume that can if the breakout will be a success. The second thing to look out for is a clear descending trend line.

Traders can use this line as the point of a breakout of the asset. This can be seen at the top of the flag. In a bullish flag, one noticeable thing is the trend line is visible, and when it makes a surge, the price of the asset moves in the same direction. To trade a bull flag, traders can place a stop close to the consolidation area. This is because when the trend line fails to move upward, traders can take profits. Another strategy is using the 20-moving average. With this strategy, you can close your position if the price moves close to the moving average.

Benefits Of Trading The Bull Flag

The breakout period of a bullish flag is a perfect opportunity for a trader to enter into a long trade. Traders can see a precise stage to input their stop-loss order. This means that they have enough support to manage their trades. Another benefit is the risk to reward ratio. In bullish trading, the reward always outpaces the risks, which is beneficial. In order words, trading the bullish flag enables traders to manage their risks carefully. Trading the bull flag is a transparent process, and even new traders can take advantage of it to make great profits.

Risks Of Trading The Bull Flag

One of the biggest mistakes traders make in a bullish flag is misreading it. Some traders have lost a massive part of their investment because they did not look for the right characteristics. As mentioned above, traders should be able to differentiate between a bullish flag and a bullish pennant. Some traders also stumble on a market trading sideways but will mistake it for a consolidation period. To reduce the risks, it is advisable to study the bull charts of several digital assets to understand better. With this, traders can ideally hop on the bullish flag train and make their profits.

Conclusion

In summary, catching a bull flag on the trend line is a fairly common occurrence. The bullish flag signals that the asset is doing well, judging by the strong upward move registered. Traders looking for ways to manage their risk to reward ratio can look out for bull flags when trading. Also, traders who have missed a previous bull run can use the period to maximize their profits. Trading in the financial sector does not come without some risks. With this, traders will need to be very careful when reading the trend line to see if a bullish flag is forming. Lastly, traders should do their analysis coupled with great research on the token they plan to trade.

Bull Flag© Cryptoticker

The post How To Make It Big Trading The Bull Flag appeared first on CryptoTicker.

Ethereum drops more than Bitcoin as China escalates crypto ban, ETH/BTC at 3-week low

Author: Cointelegraph By Yashu Gola
United States
Sep 24, 2021 04:45

Ethereum drops more than Bitcoin as China escalates crypto ban, ETH/BTC at 3-week low

The second-largest cryptocurrency falls 13.30% versus Bitcoin's 9.38% decline as China's move scares investors away.

How To Make Money Trading The Bear Flag

Author: Owotunse Adebayo
Germany
Sep 21, 2021 10:45

How To Make Money Trading The Bear Flag

Choosing which cryptocurrency to trade is just a tiny step in a long list of actions to become a seasoned and an established crypto trader. While most traders have had to come up with their unique trading strategies, all of them have, at some point in time has studied the technical analysis of the crypto they planned to trade. One spoiler is that no matter how good you claim to be in reading the technical analysis of a digital asset, there are still significant challenges to overcome. In this article, we will be looking into Crypto trading bear flags and how we can navigate it to increase our earnings in the crypto market.

What is a Bear Flag

A Bear flag is defined as a technical pattern categorized by a continuous movement in the downward trend by a digital asset. To capture a bear flag, the digital asset in question needs to make a strong decline move before consolidating in a near upward region followed by another strong decline. With the strong downward movement known as the Pole, the consolidation region is regarded as the Flag.

In layman terms, a bear flag is briefly described as any consolidation in the middle of two strong downward movements on the trend line. A bearish flag is solely characterized by the selling pressure in the market at a specific period. It shows that even though the selling pressure is very much around in the market, traders are still backing the asset to make an upward push.

Identifying a Bear Flag Pattern

To identify the Bear flag, a trader must always lookout for the two integral elements that make up the Flag and Pole. While those are essential elements, the volume indicator, and the breakout are also important elements one should look out for on the chart.

To pick out the pattern, one must first find the pole defined above. The pole is determined by the longest downward price decline on the chart. After this point, the Flag would enter the consolidation channel in which the price would look to make an upward movement.

After the consolidation period of the trendline, there are potentially two outcomes; an upward trajectory or a downward trajectory. If the price moves on upward after the consolidation, the flag pattern will not be visible as the previous downtrend would be making a reverse. The trend line needs to make a decline so that the flag pattern will be visible, showing a break below the support level of the Flag.

Trading strategy in a bear flag

When a bear flag occurs, most traders in the market use the period to create their sell orders. Traders also use the flag pattern to measure their profits since the pole's distance can be used to know if the price may eventually go downward. Compared to most chart formations, it is easy to read the bear flag pattern when making trades. Most traders use the dynamics in the bear flag pattern to develop ways to boost their profits in the bear market.

To do this, the majority of the traders wait for a close under the Flag's support before choosing to go short on the next candle. Traders also wait for the price to move close to the moving average before they trade the bear flag, as it could make a reverse higher before it gets to the moving average. Instead, traders wait for the price to make a stop at the 20 Moving Average before they look for opportunities to go short.

Arbismart© Cryptoticker

The post How To Make Money Trading The Bear Flag appeared first on CryptoTicker.

FDIC sells Signature Bank deposits to Flagstar, crypto not included

Author: Cointelegraph By Brayden Lindrea
United States
Mar 20, 2023 08:20

FDIC sells Signature Bank deposits to Flagstar, crypto not included

The 40 branches of Signature Bank will officially reopen and operate as Flagstar Bank on March 20.

Mar 20, 2023 05:50

Signature Bank deposits, branches sold to Flagstar, crypto not included

Only a week after its collapse, Signature Bank’s deposits and loans are set to be sold to Flagstar Bank, a subsidiary of New York Community Bancorp — crypto-related deposits however, will not be part of the deal. The United States Federal Deposit Insurance Corporation (FDIC) announced the agreement on March 19, which will see $38.4 [...]

The post Signature Bank deposits, branches sold to Flagstar, crypto not included appeared first on Crypto Breaking News.

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