Stablecoins Pose 'Systemic Risk' To US Banks And Dollar, Former BoE Advisor Warns: 'They're Very Bad Customers For The Banking System'
Concerns Over Stablecoins: Former Bank of England economist Dan Davies warns that stablecoins, which lack traditional banking oversight, could destabilize the financial system and lead to significant withdrawal demands from banks during times of crisis.
Legislative Implications: While the GENIUS Act aims to regulate stablecoins, Davies believes it may unintentionally normalize risks associated with them, potentially accelerating global "de-dollarization" as countries seek alternatives to U.S.-backed stablecoins.
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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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