Russia to Fully Launch Digital Ruble by 2026
- Digital Currency Introduction: Russia has begun large-scale implementation of the digital ruble in its budget system and banking sector, with a full launch expected in September 2023, marking a significant transformation in the national currency system.
- Phased Implementation: According to the law, by September 1, 2026, major banks and retail companies with annual revenues exceeding ₽30 million must support digital ruble transactions, which is expected to drive modernization of the financial system.
- Transaction Fee Waiver: The Bank of Russia has decided to waive transaction fees for citizens and companies making tax payments using digital ruble accounts, a policy that commenced last week, aimed at promoting the use of digital currency.
- Market Competition Impact: Analysts indicate that the digital ruble will pose serious competition to existing payment systems like the MIR card, potentially leading to a 7% to 9% annual decline in the domestic card market, impacting financial stability.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 11 technical signals, shows that 5 indicators are flashing buy, while 6 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK 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, BANK 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 $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00256 | 0.0161 | 0.0264 | 0.0399 | 0.0502 | 0.0637 | 0.074 |
| Fibonacci | 0.0161 | 0.0252 | 0.0308 | 0.0399 | 0.049 | 0.0546 | 0.0637 |
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