Iran's Bitcoin Mining Plummets 77% Amid Regional Conflict
- Significant Hashrate Decline: Iran's Bitcoin mining hashrate fell approximately 77% in one quarter, dropping to about 2 EH/s, indicating severe impacts from regional conflict and tightening miner economics.
- Impact of Regional Conflict: The escalating tensions between the U.S. and Israel led to an estimated loss of 7 EH/s in Iran's hashrate, while neighboring hubs like the UAE and Oman remained stable, suggesting Iran's situation is a localized event rather than a systemic threat.
- Declining Equipment Efficiency: Iran operates around 427,000 active mining rigs, but many older units with efficiency below 25 J/TH have been forced offline due to shrinking margins, contributing to the overall decline in mining capacity.
- Global Hashrate Stability: Despite Iran's hashrate drop, the global Bitcoin network's hashrate remains near 1,000 EH/s, indicating that larger market players can absorb Iran's losses with minimal impact on network performance.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE). As of , (STABLE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0174 | 0.0211 | 0.0236 | 0.0274 | 0.0298 | 0.0336 | 0.036 |
| Fibonacci | 0.0211 | 0.0235 | 0.025 | 0.0274 | 0.0297 | 0.0312 | 0.0336 |
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