Tennessee Issues Cease-and-Desist Orders to Major Prediction Market Platforms
- Regulatory Action: The Tennessee Sports Wagering Council issued cease-and-desist orders on January 9 to Kalshi, Polymarket, and Crypto.com, accusing them of illegally operating sports wagering products without necessary licenses, which could significantly impact their market presence in the state.
- BNY Mellon Innovation: BNY Mellon, the world's largest custodial bank, launched a blockchain-based deposit settlement platform aimed at providing institutional clients with more efficient deposit processing, which is expected to enhance its business expansion into the cryptocurrency sector.
- Truebit Loss: Truebit suffered a loss of approximately 8,535 ETH (valued at $26.6 million) in a security incident, highlighting the vulnerabilities in the crypto market amid increasing regulatory pressure and security risks that could undermine investor confidence.
- OKX Restructuring: Cryptocurrency exchange OKX restructured its global institutional operations, with reports indicating that half of the team was terminated, which may affect its market competitiveness and operational efficiency.
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Technical Analysis for TRUMP
Technical Sentiment Analysis for OFFICIAL TRUMP (TRUMP) As of , OFFICIAL TRUMP (TRUMP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TRUMP 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, TRUMP 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 $-.
OFFICIAL TRUMP (TRUMP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.511 | 2.266 | 3.091 | 3.846 | 4.671 | 5.426 | 6.251 |
| Fibonacci | 2.266 | 2.869 | 3.242 | 3.846 | 4.449 | 4.822 | 5.426 |
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