Binance Triggers Major Collapse for Four Altcoins
- Service Termination by Binance: Binance has decided to terminate all services with Alchemix (ALCX), Ardor (ARDR), NFPrompt Token (NFP), and Marlin (POND), leading to double-digit declines for these tokens post-announcement, with NFP suffering a 21% drop, highlighting the market's heavy reliance on Binance's support.
- Increased Liquidity Risks: The loss of backing from a market leader like Binance poses risks of reduced liquidity and availability for these tokens, which may lead to declining investor confidence and negatively impact their long-term value and market performance.
- Escalating Regulatory Challenges: Binance faces significant regulatory challenges in the EU, having withdrawn its MiCA license application in Greece and planning to seek approval from another country, a decision that could affect its operations and user base in Europe.
- Commitment to User Asset Safety: Despite regulatory pressures, Binance assures that user assets are safe and states its intention to secure MiCA authorization in the coming months, aiming to minimize disruption and maintain transparency with users.
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Technical Analysis for SYS
Technical Sentiment Analysis for Syscoin (SYS). As of , Syscoin (SYS) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SYS 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 crypto.
Support, Resistance & Moving Averages. From a structural perspective, SYS 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 $-.
Syscoin (SYS) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000523 | 0.00142 | 0.00211 | 0.00301 | 0.0037 | 0.0046 | 0.00529 |
| Fibonacci | 0.00142 | 0.00202 | 0.0024 | 0.00301 | 0.00361 | 0.00399 | 0.0046 |
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