Prenetics Halts Daily Bitcoin Purchases to Focus on IM8 Brand Growth
- Strategic Shift: Prenetics announced it will halt daily Bitcoin purchases as of December 4, redirecting focus to its rapidly growing nutritional brand IM8, which has generated over $100 million in annual recurring revenue since launch, indicating strong market demand.
- Market Context: The decision comes as the crypto market entered a downtrend in the second half of 2025, reflecting a cautious approach to market volatility and a pivot away from additional Bitcoin acquisitions.
- Financial Position: The company currently holds 510 Bitcoins and over $70 million in cash and cash equivalents, showcasing its financial resilience amid market uncertainties.
- Investor Confidence: In its latest funding round, Prenetics secured $48 million, which will be used to scale its IM8 business globally, demonstrating investor confidence in its future growth potential.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE) As of , (STABLE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.00287 | 0.00633 | 0.0143 | 0.0235 | 0.0315 | 0.0407 | 0.0487 |
| Fibonacci | 0.00633 | 0.0129 | 0.0169 | 0.0235 | 0.0301 | 0.0341 | 0.0407 |
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