China Bans Unauthorized Offshore Yuan Stablecoins
- Policy Tightening: The People's Bank of China and seven other agencies declared unauthorized offshore issuance of yuan-pegged stablecoins illegal, aiming to protect financial stability and prevent capital flight, thereby reinforcing monetary sovereignty and demonstrating a tough stance against private digital currencies.
- Digital Currency Promotion: China continues to promote its state-backed digital currency, the e-CNY, while imposing strict restrictions on privately issued renminbi-linked tokens, indicating the government's desire to enhance control over the financial system through digital currency regulation.
- Dollar Stablecoin Dominance: By 2025, US dollar-backed stablecoins accounted for 99.8% of all fiat-backed stablecoins, with Circle's USDC growing 72% year-on-year to $75.3 billion in circulation, highlighting the strong influence of dollar stablecoins in the global market.
- International Competition Challenge: While China focuses on promoting the e-CNY, the long-term challenge remains whether a tightly controlled state-led model can compete with the speed, flexibility, and international reach of privately issued digital currencies.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE). As of , (STABLE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0174 | 0.0212 | 0.0236 | 0.0274 | 0.0299 | 0.0336 | 0.0361 |
| Fibonacci | 0.0212 | 0.0235 | 0.025 | 0.0274 | 0.0297 | 0.0312 | 0.0336 |
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