Ethereum Initiative Aligns with Swift Ledger Strategy as Exchange Supply Reaches Lowest Levels Since 2016
Swift's Blockchain Initiative: Swift is collaborating with over 30 banks to develop a blockchain-based ledger aimed at enhancing cross-border payments, with a prototype being created in partnership with Consensys.
Ethereum's Exchange Supply Ratio: Ethereum's exchange supply ratio has fallen to approximately 0.137, the lowest since 2016, indicating a decrease in the availability of ETH on exchanges, which may suggest increased accumulation by institutions.
Impact on Cross-Border Transactions: The new ledger is positioned as an upgrade to Swift's infrastructure, facilitating real-time, 24/7 cross-border transactions to meet the growing demands for modernization in payment networks.
Market Implications: The decline in Ethereum's exchange supply ratio is interpreted as reduced sell pressure, with suggestions that institutions are accumulating ETH at a significant rate, although specific data to support this claim was not provided.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for LINEA
Technical Sentiment Analysis for Linea (LINEA) As of , Linea (LINEA) 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 LINEA 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, LINEA 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 $-.
Linea (LINEA) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000153 | 0.00152 | 0.00264 | 0.00401 | 0.00513 | 0.0065 | 0.00762 |
| Fibonacci | 0.00152 | 0.00247 | 0.00306 | 0.00401 | 0.00496 | 0.00555 | 0.0065 |
About LINEA
About the author
