Senate Postpones Digital Asset Market Legislation Markup Amid Industry Concerns
- Legislation Postponed: Senate Banking Committee Chairman Tim Scott announced the postponement of the digital asset market legislation markup originally scheduled for today, although all parties remain engaged in discussions to ensure consumer protection and national security.
- Industry Opposition: Coinbase CEO Brian Armstrong stated that Coinbase cannot support the bill due to provisions that limit stablecoin yields, highlighting the tension between regulatory clarity and investor interests within the industry.
- Market Reaction: Bitcoin hit a two-month high of $97,700 before retreating to $96,500 following the news of the delayed legislation markup, yet it remains up over 5.5% for the week, indicating market sensitivity to legislative developments.
- Future Outlook: Despite the delay, Ripple CEO Brad Garlinghouse expressed optimism about resolving issues through the markup process, underscoring the industry's ongoing engagement and focus on legislative progress.
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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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