Eric Adams Denies Profiting from NYC Token Amid 80% Plunge
- Denial of Fund Movement: Eric Adams' spokesperson firmly denied any movement of investor funds or personal profit from the NYC Token launch, asserting that “no funds were removed” in response to accusations of scamming investors out of $3.4 million.
- Market Volatility Impact: The spokesperson attributed the NYC Token's dramatic 80% drop within the first hour of launch to “market volatility,” aiming to alleviate investor concerns regarding potential misconduct by Adams' team.
- Liquidity Adjustment Controversy: While the spokesperson claimed “no funds were removed,” the NYC Token's official account previously stated it had “rebalanced liquidity” in response to launch demand, creating a contradiction that may raise further scrutiny.
- Commitment to Philanthropy: Adams emphasized that proceeds from the NYC Token would fund non-profits to raise awareness about antisemitism and anti-Americanism through educational programs, as well as support scholarships for underserved NYC students, reflecting his ongoing commitment to social responsibility.
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Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN) As of , TokenFi (TOKEN) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TOKEN 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, TOKEN 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 $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000701 | 0.00175 | 0.00258 | 0.00364 | 0.00446 | 0.00552 | 0.00635 |
| Fibonacci | 0.00175 | 0.00247 | 0.00292 | 0.00364 | 0.00436 | 0.0048 | 0.00552 |
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