Bithumb Suspends MERL Deposits and Withdrawals for Major Network Upgrade
- Service Suspension Announcement: Bithumb has announced a temporary suspension of all deposits and withdrawals for Merlin Chain (MERL) effective at 1:30 p.m. UTC to support an upcoming network upgrade, ensuring user asset security and preventing potential transaction errors.
- Trading Continues: While deposits and withdrawals are suspended, trading of MERL against Bitcoin (BTC) and Tether (USDT) will continue uninterrupted on the Bithumb platform, providing liquidity assurance for users during this period.
- Network Upgrade Context: The upgrade involves core protocol improvements for Merlin Chain, expected to enhance security and transaction throughput, utilizing zero-knowledge roll-up technology to reduce costs and increase transaction speed while ensuring compatibility with Bitcoin.
- User Guidance Recommendations: Bithumb advises users to avoid initiating MERL transfers to deposit addresses during the suspension and to monitor official announcements for updates on service resumption, ensuring asset safety and mitigating phishing risks.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0686 | 0.0777 | 0.0855 | 0.0946 | 0.102 | 0.111 |
| Fibonacci | 0.0686 | 0.0751 | 0.079 | 0.0855 | 0.0919 | 0.0959 | 0.102 |
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