Cash Remains King: Canadians Prefer Traditional Money Over Crypto Options
- Survey Insights: Majority of Canadians still prefer cash for transactions, with less than 3% using cryptocurrencies like Bitcoin.
- Bank of Canada Report: Traditional payment methods, especially cash, continue to dominate in Canada, with approximately 20% of purchases made with physical currency in 2023.
- Electronic Transfers and PayPal: Electronic transfers used by 58% of respondents in 2023, with a 7% increase from the previous year. PayPal's e-wallet acceptance rate reached 35%.
- Institutional Perspective: 39% of institutional investors in Canada hold cryptocurrencies, showing growing confidence in digital assets.
- Divergence in Financial Habits: Contrasting behaviors between individual Canadians and institutions may lead to a shift towards broader acceptance of cryptocurrencies in the financial landscape.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 12 technical signals, shows that 5 indicators are flashing buy, while 7 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK 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, BANK 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 $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000247 | 0.0143 | 0.0253 | 0.0394 | 0.0504 | 0.0645 | 0.0755 |
| Fibonacci | 0.0143 | 0.0239 | 0.0298 | 0.0394 | 0.049 | 0.0549 | 0.0645 |
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