DHT coin price has been in a downtrend for 8 months, what awaits us now?

  • 1 dHEDGE uses blockchain technology to create a permissionless protocol.
  • 2 The asset management protocol operates vaults on the Polygon and Optimism blockchains.
  • 3 The bears will be active at the $0.137 and $0.159 resistance levels.

dHEDGE is a non-custodial asset management protocol that is decentralized and based on Optimism and Polygon, which are Layer 2 scaling solutions based on Ethereum. The protocol allows people to allocate funds to asset managers in a censorship-resistant and non-custodial manner.

The technology and operation of dHEDGE

dHEDGE uses blockchain technology to create a permissionless protocol that allows people to retain full ownership of their assets. At the same time, they also benefit from the experience of asset managers. Users can easily connect any ERC-20 compliant wallet to the dHEDGE application (dApp) to buy, store and sell minified trust 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 each vault’s transactions, deposits, withdrawals, and treasury as immutable transactions. Users can easily track all transactions in a minimized trust vault by viewing the contract address of their vault on the blockchain.

Non-custodial behavior and operation

dHEDGE is non-custodial, meaning users retain ownership of their funds and asset managers cannot keep individuals’ funds. The protocol is also decentralized and aims to create a secure, immutable, and permissionless environment for investors and asset managers. All transactions are verifiable and recorded on the blockchain as transparent and immutable transactions.

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

DHT Coin Technical Analysis and Price Prediction

TradingView DHT/USDT Chart (Daily Time Frame)

The current trading price of 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 looking for support at the $0.098 and $0.0703 levels. Meanwhile, the bears will be active at the $0.137 and $0.159 resistance levels.

The current price prediction is bearish considering the overbought zone of the RSI and the gap between its SMA levels of 53. However, some bearish volumes have been observed since the start of the trading session this day.

Conclusion

dHEDGE uses blockchain technology to create a permissionless protocol that allows people to retain full ownership of 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 expressed by the author, or anyone named in this article, are for informational purposes only. They do not provide financial, investment or other advice. Investing in or trading stocks, cryptocurrencies or related indices involves a risk of financial loss.

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