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The World Bank has sounded the alarm in the energy sector, the organization has described the losses in the energy sector as a threat to the economy.
The World Bank said in its report that if energy reforms are not done, electricity will have to become more expensive, and the poor will have to be protected from the rising electricity rates.
While the ongoing report by the institution stated that the electricity debt has reached 2.4 percent of the GDP, the revolving debt of the power sector has reached 2635 billion rupees by January 2024.
Expressing concern, the organization has described the losses in the energy sector as a threat to the economy.
While the report states that the circular debt in the gas sector has reached 2866 billion rupees, the debt of the gas sector has reached 2.7 percent of the economy.
2024-04-18 21:08:07
- MATIC has a bearish market structure on one-day chart
- The $0.8-0.9 region, if revised, would serve as resistance and might stop the bulls.
Polygon [MATIC] It witnessed a 38% drop from April 9 to 13. In recent days, the price has tried to bounce above a key resistance level of $0.73.
AMBCrypto reported that the resistance zone was stiff and MATIC bulls might not have much luck.
This opinion was justified, and the token’s short-term optimism took a 180-degree turn at $0.751. At press time, the higher timeframe trend was strongly bearish. Investors should be prepared for more losses.
Five month trend line broken
The support for the rising trend line in October was broken on 12 April. The bears gained even more, driving prices below the $0.73 to $0.75 support zone.
For context, this region has operated as a demand zone since November 21, 2023, nearly five months.
The Awesome Oscillator was at -0.22 showing intense downward momentum. The Direction Movement Index also showed a strong ongoing downtrend on the daily chart.
Both ADX (yellow) and -DI (red) were above the 20 mark.
Price action was also undeniably bearish on both the daily and lower time frames. The move below the $0.69 low meant that MATIC is likely headed for the next support zone at $0.5.
The short-term upswing led to an influx of demand
Data from Open Interest showed AMBCrypto that market sentiment has been bearish throughout April. There was some speculative interest in MATIC before the losses began in earnest on April 12.
However, spot settlement fees have seen a sharp downward trend in April. Only in the last three days did it show signs of stabilization. This was encouraging, but probably not enough to reverse the downtrend.
File polygon [MATIC] Price prediction 2024-25
Therefore, we can conclude that short-term demand in the spot market remained rather weak. He gained some strength, but it might not be enough to erase the last losses.
OI continued to fall as speculators stayed on the sidelines waiting for an uptrend.
Disclaimer: The information presented does not constitute financial, investment, trading or other advice and is solely the opinion of the author.
This is an automatic translation of our English version.
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#MATIC #drops #days #forget #careful
2024-04-18 22:07:33
- MSTR extended its weekly losses to around 20%.
- Concerns over Bitcoin halving and “overvaluation” might give sellers more leverage
MicroStrategy ( MSTR ) stock extended its weekly losses to more than 19% just hours before Bitcoins [BTC] fourth halving. After hitting an all-time high of $1,999.99 on March 27, the stock pulled back and reversed some of its monthly gains. MSTR’s weekly loss marked an extended three-week retreat on the charts.
On a quarterly basis, the share was down 30% in the second quarter. On the contrary, year-to-date performance had a reading of +73.4%, at the time of writing.
On April 17, MSTR closed at $1,188.05, a huge discount for anyone who hasn’t jumped into the stock before. Still, macroeconomic conditions and price charts revealed that juicier discounts may still be possible for anyone who decides to dive in.
Will MSTR Extend Losses Amidst Bitcoin Halving?
As one of the companies with a Bitcoin strategy, MSTR stock correlates strongly with BTC. This is demonstrated by its positive correlation coefficient since mid-February.
What this means is that the prolonged BTC price decline has also dragged down MSTR stock.
Between March 27 and April 18, BTC fell 13%, from $71.7K to $62.4K on Bitstamp. In the same period, MSTR fell 40%, more than 3 times the fall of BTC.
Right now, the bears have more leverage following the MSTR dropped below the 10-day and 20-day SMA (simple moving averages), marked in blue and orange, respectively.
If the bears push further, the next target is the 100-day SMA ($896), which would mark an attempt to push the value of MSTR below $1,000. If this happens, there may be a better discount for bulls that missed out on the previous promotion.
The below-average reading on the Relative Strength Index (RSI) is a sign of increased selling pressure, supporting the extended downside forecast.
Bitcoin Halving and MSTR “Overrated”
Additionally, the Bitcoin halving might encourage MSTR bears if BTC selling pressure increases during the event.
MicroStrategy’s current BTC holdings total 214,246 coins, worth over $13 billion based on current market prices. Most of them have been acquired through convertible debentures issued by the company.
However, the current dumping is also resonating with some market watchers who feel MSTR stock is overvalued. Last month, private investment manager Kerrisdale Capital fixed the same,
“We are long in Bitcoin and short stocks in MicroStrategy, a Bitcoin proxy that trades at a price “unjustifiable premium to the digital asset that drives its value.”
Kerrisdale Capital argued that the new BTC spot ETFs offer alternatives to gaining exposure to BTC, denying MicroStrategy any unique advantages for the premiums it charges.
For perspective, some investors had previously preferred to buy MSTR to gain indirect exposure to BTC.
Simply put, the private investment manager believes that the fair value of MSTR is between $700 and $800. The upper estimate is closer to the bearish target marked by the 100-day SMA (yellow).
However, the projection might be invalidated, especially in the unlikely event of a massive Bitcoin rally around the halving.
This is an automatic translation of our English version.
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#MicroStrategy #Stock #Price #Prediction #Reveals #Bitcoin #Halving
2024-04-18 20:38:39
Over the past few days, we have seen a significant drop in car prices following a continuous rise for some time, and a significant drop in used cars has also been followed, as the 2022 Chevrolet Optra is considered one of the most important cars. offered on the used car market at competitive prices and with excellent technical specifications, equipped with advanced technologies, the car is equipped with a four-cylinder engine with a capacity of 1,500 cc and a power of 110 hp, plus car speeds of up to 170 kilometers per hour. We will complete the rest of the car’s specifications through the following report.
2022 Chevrolet Optra Specifications
Car Interior Specifications
- The interior of the car is available with a keyless opening and closing function.
- It also has indoor air conditioning.
- The car is available with 5 passenger seats.
- The car is also equipped with an electric sunroof.
- The driver’s seat can also be controlled manually.
- The rear sofa can be folded and the space can be expanded.
- The car is equipped with a central door locking system.
- It also comes with power windows.
- The interior of the car is available with a digital dashboard.
- The car also supports AUX and USB ports.
- Available with Bluetooth and this feature is available in 2024 Hyundai Santa Fe.
- The car has a luxury audio system.
- It also comes with 4 speakers.
- The car also comes with a remote control.
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#model #priced #cheapest #automatic #car #powerful #engine #fantastic #speed #affordable #price