MilkyWay Protocol Announces Complete Shutdown, Users to Receive Refunds
- Complete Shutdown: MilkyWay Protocol has announced a gradual phase-out of operations, deciding to permanently shut down due to unmet demand in decentralized finance (DeFi) and the WayCard product's failure to alleviate financing pressures.
- Market Fit Failure: The WayCard, aimed at daily expenses and rent payments, failed to achieve product-market fit due to limited runway, leading the team to express disappointment over the slower-than-expected maturation of the DeFi ecosystem.
- User Refund Arrangement: The protocol will distribute its earned revenue in USDC proportionally to MILK token holders, with all features disabled starting today and the system set to completely shut down after the designated closure date.
- Token Burn Plan: MilkyWay announced the burning of all remaining tokens reserved for the team, foundation, and community, including any undistributed airdrop shares, ensuring these tokens will not enter circulation.
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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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