DoubleZero (2Z) has experienced a decline of 9% in the last 24 hours that was opposite of the 1% gain in the cryptocurrency market. The main reasons are:
1. Investors taking profits after the news about regulation:
The SEC announcement led to a rise of 25%, and then the selling started.
2. Failure of the support level:
The price could not break through a major resistance point ($0.185 Fibonacci level).
3. Hacking issue:
The hack of Upbit that happened on November 27 and included 2Z still affects the market negatively.
2Z
0.1283
+5.79%
