India signals no fixed timeline for crypto rules, calls for global alliance

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Dec 17 2024

PRCL-12%

BTC-0.895%

Should l Buy PRCL?

Regulatory Framework for Virtual Assets: The Indian government has indicated that there is no set timeline for the rollout of regulatory guidelines for virtual digital assets (VDAs), emphasizing the need for international cooperation to address their borderless nature and prevent regulatory arbitrage.
Challenges in Investor Protection: Despite existing taxation and regulations under the Prevention of Money Laundering Act, India faces challenges in ensuring investor protection due to the lack of a clear regulatory framework and the rise of crypto-related frauds, highlighting the importance of global collaboration in developing effective regulations.

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Technical Analysis for PRCL

Technical Sentiment Analysis for Parcl (PRCL) As of , Parcl (PRCL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for PRCL 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, PRCL 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 $-.

Parcl (PRCL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00375	0.00813	0.0118	0.0162	0.0199	0.0243	0.028
Fibonacci	0.00813	0.0112	0.0131	0.0162	0.0193	0.0212	0.0243

About PRCL

The Parcl Ecosystem, which includes Parcl, Parcl Labs, and Parcl Limited, develops and governs the Parcl Protocol, a decentralized exchange that allows users to get long or short exposure to real-world real estate prices via a decentralized exchange. Parcl's primary intention is to create a liquid market around the largest asset class in the world by leveraging novel, world-class real estate data from Parcl Labs.The PRCL token underpins the Parcl Ecosystem, providing governance rights, access to Parcl Labs data & analytics, and network incentives.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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