A7A5 Stablecoin Grows $90 Billion Amid Sanctions
- Market Growth: Despite the EU's ban on ruble-backed assets, the A7A5 stablecoin has added approximately $90 billion to its circulating supply over the past year, highlighting its significance in Russia's financial system.
- Surge in Transactions: On-chain data reveals that A7A5 has transacted over $93.3 billion in less than a year, indicating its widespread adoption among Russian users, particularly for cross-border payments.
- Legal Support: In September 2024, Russia introduced legislation legalizing the use of digital assets for international payments, aimed at reducing reliance on the U.S. dollar, which further propelled the use of A7A5.
- Currency Performance: Despite sanctions, the ruble appreciated by approximately 40% against the dollar last year, becoming the world's best-performing currency, reflecting the Russian central bank's interventions and market adaptability.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U) As of , Union (U) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for U 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, U 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 $-.
Union (U) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.97 | 0.977 | 0.989 | 0.996 | 1.007 | 1.014 | 1.026 |
| Fibonacci | 0.977 | 0.984 | 0.989 | 0.996 | 1.003 | 1.007 | 1.014 |
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