CFTC Enhances Trust in Cryptocurrency with Stablecoin Commitment
CFTC Developments: The U.S. Commodity Futures Trading Commission (CFTC) is set to approve the use of stablecoins as collateral in derivative trades, marking a significant advancement in the crypto sector under interim chair Caroline D. Pham's leadership.
Tether's Future Plans: Tether is preparing to launch its cryptocurrency payment network, Plasma, and is looking to sell a 3% stake to raise $20 billion, potentially increasing its valuation to as high as $666 billion.
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Technical Analysis for XPL
Technical Sentiment Analysis for Plasma (XPL) As of , Plasma (XPL) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XPL 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, XPL 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 $-.
Plasma (XPL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0123 | 0.0412 | 0.0661 | 0.095 | 0.12 | 0.149 | 0.174 |
| Fibonacci | 0.0412 | 0.0617 | 0.0744 | 0.095 | 0.116 | 0.128 | 0.149 |
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