Coinbase Urges Blockchain to Prepare for Quantum Risks
- Quantum Risk Preparedness: Coinbase's Independent Advisory Board highlights that Algorand and Aptos have taken initial steps to address future quantum computing risks, urging blockchain teams to begin planning upgrades now to ensure future security, despite the current threat not being immediate.
- Threat of Quantum Computers: The report emphasizes that future quantum computers could potentially break the cryptographic systems protecting digital assets and blockchain transactions; while such machines do not currently exist, the board expresses high confidence in their eventual development, which may be at least a decade away.
- Algorand's Quantum Readiness: Algorand has established a staged roadmap towards full quantum readiness and successfully completed its first quantum-resistant transaction on the mainnet, demonstrating foresight in quantum security, although it still needs to address risks associated with block proposals and committee voting.
- Aptos's Secure Design: Aptos is well-positioned for a transition to post-quantum secure transactions by storing users' public keys as account metadata rather than deriving addresses from those keys, allowing users to simply sign a transaction to update their authentication key without the need for asset migration.
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Technical Analysis for ALGO
Technical Sentiment Analysis for Algorand (ALGO). As of , Algorand (ALGO) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 7 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ALGO 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, ALGO 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 $-.
Algorand (ALGO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0819 | 0.0913 | 0.099 | 0.108 | 0.116 | 0.125 | 0.133 |
| Fibonacci | 0.0913 | 0.0978 | 0.102 | 0.108 | 0.115 | 0.119 | 0.125 |
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