Iran Allows Arms Purchases via Cryptocurrency, Serving Clients in 35 Countries
- Cryptocurrency Arms Trade: Iran, through its state-backed arms export agency Mindex, is allowing other countries to purchase military equipment, including Emad ballistic missiles and Shahed drones, using cryptocurrency, marking one of the first instances of a nation openly accepting crypto for military transactions.
- Broad Client Base: Mindex claims to serve clients in 35 countries, offering a range of military gear including cruise missiles and small arms, indicating Iran's active role in the international arms market and its potential for foreign military cooperation.
- Sanction Evasion Strategy: The Mindex website operates under U.S. Treasury sanctions, providing a digital purchasing process that highlights Iran's capability to circumvent international sanctions, which may provoke further punitive measures from Western nations.
- Heightened International Tensions: With Iran ranking as the 18th largest arms exporter globally in 2024, concerns among Western nations regarding its cryptocurrency transactions have intensified, especially in the context of military cooperation with Russia, potentially impacting future international relations and security dynamics.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for 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, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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