Цена ТОРН пада за 45% након што је амерички трезор увео санкције Торнадо Цасх — Одскок напред?

Tornado Cash (ПОЦЕПАН) has lost almost half its market valuation two days after being slapped with sanctions by the U.S. Treasury Department.

Одељење accused Tornado Cashје крипто миксер platform, of laundering more than $7 billion in cryptocurrencies, including a stash of $455 million allegedly stolen by North Korea-based hackers.

Одмах reactions were followed by U.S.-based crypto companies, including Circle and Coinbase. In a controversial move, the popular crypto firms blocked the movements of their jointly-issued stablecoin USDC tied to Tornado Cash’s blacklisted smart contracts.

TORN price drops 45%

The news prompted traders to limit their exposure to TORN, Tornado Cash’s native token.

On the daily chart, TORN’s price has slipped by approximately 45% since the Justice Department’s notice about Tornado Cash, to reach $18.50 on Aug. 10. By contrast, the valuation of all the crypto assets had plunged merely 6% in the same timeframe.  

Interestingly, TORN’s selloff accompanied a spike in daily trading volumes, suggesting momentume.

TORN technicals suggest recovery

The downside move has pushed TORN price near a critical technical support.

Релатед: Анонимни корисник шаље ЕТХ из Торнадо Цасх-а истакнутим личностима након санкција

TORN has been testing its $15–$18 range for a potential rebound due to its historical relevance as support. Notably, in January and June earlier this year, this level served as a springboard for TORN price to jump 275% and 100%, respectively.

Therefore, a potential rebound move from the range could have TORN test $32.50 as its next upside target, which coincides with the 0.236 Fib line as shown above. In other words, a 75% recovery by September 2022

On the other hand, a breakdown below the support range sends TORN’s price to new record lows.

Овдје приказана стајалишта и мишљења су искључиво становишта аутора и не одражавају нужно ставове Цоинтелеграпх.цом. Сваки потез улагања и трговања укључује ризик, приликом доношења одлуке требало би да спроведете сопствено истраживање.