Chinese Fintech Targets Venom Blockchain to Advance Digital Finance Modernization
Acquisition Negotiations: A leading Chinese fintech company is in talks to acquire technological solutions from the Abu Dhabi-based Venom Foundation, aiming to integrate its blockchain infrastructure into China's digital finance systems.
Regulatory Alignment: The move aligns with China's push for modernization in financial services, as highlighted by recent regulatory guidance encouraging the use of blockchain and AI to enhance the real economy.
Venom's Capabilities: Venom's Layer-0 blockchain protocol can process around 150,000 transactions per second, making it attractive for applications like cross-border settlements and carbon credit tracking, especially for Chinese firms under the Belt and Road Initiative.
Broader Trends: This potential deal reflects a trend of Chinese companies seeking overseas technology to meet domestic policy goals, with implications for various sectors including supply chain financing and green finance.
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Technical Analysis for VENOM
Technical Sentiment Analysis for Venom (VENOM) As of , Venom (VENOM) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 6 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for VENOM 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, VENOM 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 $-.
Venom (VENOM) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0207 | 0.0244 | 0.027 | 0.0307 | 0.0333 | 0.037 | 0.0396 |
| Fibonacci | 0.0244 | 0.0268 | 0.0283 | 0.0307 | 0.0331 | 0.0346 | 0.037 |
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