Indian Investors Explore Alternatives to Bitcoin as Japan Eases Crypto Tax Regulations: Asia Express
Indian Crypto Portfolio Diversification: A recent survey by CoinDCX reveals that Indian crypto holders are diversifying their portfolios, now averaging five tokens each, up from two to three in 2022, indicating a shift away from Bitcoin-centric investments.
Ripple's Expansion in Singapore: Singapore's central bank has approved Ripple's expanded payment services, allowing the company to enhance its infrastructure for financial institutions in the region, highlighting Singapore's role as a hub for crypto innovation.
Japan's Proposed Crypto Tax Reform: Japan is considering a flat 20% tax on cryptocurrency gains, aligning it with stock tax treatment, which could attract more investment into the crypto sector and provide relief for high-income earners.
Increased Regulation in Japan: Alongside tax reforms, Japan's Financial Services Agency plans to implement stricter regulations for cryptocurrency exchanges, requiring them to maintain liability reserves to protect against potential hacks or unforeseen events.
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Technical Analysis for VET
Technical Sentiment Analysis for VeChain (VET) As of , VeChain (VET) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for VET 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, VET 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 $-.
VeChain (VET) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.004 | 0.00529 | 0.00672 | 0.00801 | 0.00944 | 0.0107 | 0.0122 |
| Fibonacci | 0.00529 | 0.00633 | 0.00697 | 0.00801 | 0.00905 | 0.00969 | 0.0107 |
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