Court Supports Federal Decision to Deny Custodia Bank's Application
Court Ruling on Custodia: The U.S. Tenth Circuit Court of Appeals ruled that Custodia, a crypto bank, cannot compel the Federal Reserve to grant it access to a master account, reaffirming the Fed's discretion in such matters.
Impact on Crypto Banking: The ruling poses operational challenges for Custodia and other crypto banks, limiting their ability to attract institutional clients and participate fully in the U.S. financial system.
Caitlin Long's Response: Custodia's CEO expressed disappointment over the ruling, emphasizing the need for depository institutions to have equal access to the financial system, while noting that the Fed's discretion disadvantages innovators.
Regulatory Landscape: The crypto banking sector continues to face regulatory hurdles, with no U.S.-based crypto bank having successfully gained Federal Reserve master account access, indicating ongoing scrutiny and potential future adaptations in regulations.
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Technical Analysis for REQ
Technical Sentiment Analysis for Request (REQ) As of , Request (REQ) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for REQ 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, REQ 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 $-.
Request (REQ) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0489 | 0.0622 | 0.0752 | 0.0885 | 0.101 | 0.115 | 0.128 |
| Fibonacci | 0.0622 | 0.0722 | 0.0784 | 0.0885 | 0.0985 | 0.105 | 0.115 |
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