Coinbase Gains CFTC Approval for Perpetual Futures Trading
- Regulatory Approval: Coinbase becomes the first U.S. exchange authorized by the CFTC to offer offshore cryptocurrency perpetual futures to American traders, significantly enhancing its regulatory standing in the crypto market and expected to attract more users and increase market share.
- Market Potential: The CFTC authorization covers various 'digital commodity' perpetual contracts including Bitcoin, Ethereum, Solana, and Dogecoin, and while Coinbase has not finalized its product lineup, the strong market demand is evident with over $588 billion in trading volume in the past 30 days, indicating substantial market potential.
- Competitive Pressure: JPMorgan CEO Jamie Dimon intensifies opposition against Coinbase, asserting that it should adhere to the same regulatory standards as traditional banks, which could impact Coinbase's market strategy and future direction, particularly regarding interest payments on stablecoins.
- Technical Analysis: COIN shares closed at $189, aligning with the 50-day simple moving average, and a breakout above the $213 resistance level could propel the stock further towards $221, reflecting optimistic market expectations for its future performance.
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Technical Analysis for PUMP
Technical Sentiment Analysis for Pump.fun (PUMP). As of , Pump.fun (PUMP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for PUMP 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, PUMP 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 $-.
Pump.fun (PUMP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00136 | 0.00148 | 0.00162 | 0.00174 | 0.00188 | 0.002 | 0.00214 |
| Fibonacci | 0.00148 | 0.00158 | 0.00165 | 0.00174 | 0.00184 | 0.00191 | 0.002 |
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