CoinRank Crypto Update (11/06) | Binance's New Proof-of-Reserves
Market Sentiment Post-Crash: Tom Lee noted that the October 11 crypto crash and subsequent DeFi exploits have negatively impacted market sentiment, but the effects appear localized and not systemic, unlike previous major collapses.
Binance Proof-of-Reserves Report: Binance's latest Proof-of-Reserves report indicates that major crypto assets are overcollateralized, but concerns remain regarding the reliability of audits and the liquidity of assets beyond the snapshot.
Increase in CEX Stablecoin Reserves: Centralized exchanges have seen a nearly $10 billion increase in stablecoin reserves over the past month, reflecting a trend of traders moving away from volatile assets, indicating growing institutional interest in stablecoins.
Stablecoins as Core Infrastructure: Stablecoins are evolving beyond their initial role as trading intermediaries, now serving as essential infrastructure in the digital economy, with increasing usage in payments and cross-border settlements.
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Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI). As of , DeFi (DEFI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 2 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DEFI 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, DEFI 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 $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0000676 | 0.000164 | 0.000245 | 0.000341 | 0.000422 | 0.000518 | 0.000599 |
| Fibonacci | 0.000164 | 0.000232 | 0.000274 | 0.000341 | 0.000409 | 0.000451 | 0.000518 |
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