[New Coin] 1 POKT = ₿112.42 Satoshi - Is it a sign that the alligator is ready to take a break?
(Chart by TradingView)
In early August, the alligator of Pocket Network (POKT) was seen moving down to around ₿90 Satoshi, then moving rapidly up in search of prey since then.
However, the Moving Average Convergence Divergence (MACD) indicator, which had been signaling bullish sentiment for over three weeks, has recently turned bearish, suggesting a possible shift in market direction.
Meanwhile, the Stochastic Relative Strength Index (RSI) is currently below 30, which is considered oversold. This suggests that the price may be undervalued and could be poised for a rebound.
The Stochastic Relative Strength Index (RSI) is a momentum indicator that measures the speed and magnitude of price changes. When it is below 30, it indicates that the price has been declining for a while and is likely oversold. This could be a buying opportunity, as the price may be poised for a rebound.
Now, the alligator's mouth is closing, which may be a sign that it is ready to take a break.
Let's watch and see where this POKT alligator goes on its travels.
About Pocket Network (POKT)
Pocket Network (POKT) is a decentralized blockchain data platform that provides reliable, performant, and cost-effective access to blockchain data for Web3 developers. The Pocket Network protocol connects applications to a decentralized network of nodes that compete to provide the highest quality data.
POKT is the native utility token of the Pocket Network protocol. It is used to stake nodes on the network, to pay for data requests, and to participate in governance.
The Pocket Network protocol is designed to address the challenges of blockchain data access, including:
- High costs: Traditional methods of accessing blockchain data can be prohibitively expensive.
- Inconsistency: The quality of blockchain data can vary depending on the source.
- Reliability: Blockchain data can be unreliable due to factors such as network congestion and node outages.
The Pocket Network protocol solves these challenges by providing a decentralized and reliable way to access blockchain data. Pocket Network nodes are distributed around the world, which ensures that data requests are always routed to the fastest and most reliable node. Pocket Network nodes are also incentivized to provide high-quality data, which helps to ensure the consistency of the data.
The Pocket Network protocol is a key enabler of the future of Web3. By providing reliable and affordable access to blockchain data, Pocket Network makes it possible for developers to build powerful and innovative applications that can truly change the world.
Here are some of the benefits of using Pocket Network:
- Reliability: Pocket Network nodes are distributed around the world, which ensures that data requests are always routed to the fastest and most reliable node.
- Performance: Pocket Network uses a variety of caching and compression techniques to ensure that data requests are processed quickly and efficiently.
- Cost-effectiveness: Pocket Network is significantly more cost-effective than traditional methods of accessing blockchain data.
- Scalability: Pocket Network is designed to scale to meet the needs of a growing number of users and applications.
If you are a developer who needs reliable, performant, and cost-effective access to blockchain data, then Pocket Network is the perfect solution for you.
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