Argentine Parliamentary Report Labels Milei's Promotion of Crypto $LIBRA as a Suspected Scam
Allegations of Fraud: A parliamentary report in Argentina claims that President Javier Milei's promotion of the $LIBRA cryptocurrency constitutes "alleged fraud," leading to significant investor losses estimated at $400 million.
Political Reactions: Milei's supporters dismiss the report as a politically motivated attack, while the opposition calls for accountability, highlighting the risks associated with the promotion of opaque crypto projects by public officials.
Risks of Crypto Launches: The $LIBRA incident underscores the dangers of unregulated cryptocurrency launches, where influential endorsements can mislead investors, resulting in scams like "rug pulls" and "pump and dump" schemes.
Call for Regulation: The scandal raises important questions about the responsibility of public figures in promoting financial assets, potentially prompting calls for stricter regulations on cryptocurrency endorsements globally.
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Technical Analysis for X
Technical Sentiment Analysis for X Empire (X) As of , X Empire (X) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for X stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, X is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
X Empire (X) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0000059 | 0.00000889 | 0.0000115 | 0.0000144 | 0.000017 | 0.00002 | 0.0000226 |
| Fibonacci | 0.00000889 | 0.000011 | 0.0000123 | 0.0000144 | 0.0000166 | 0.0000179 | 0.00002 |
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