Major Exchange Releases Statement Regarding Altcoin That Plummeted 98% – Who Is Responsible?
OKX's Response to Price Manipulation: The cryptocurrency exchange OKX has identified multiple linked accounts that artificially inflated the price of the MANTRA (OM) token by borrowing USDT against large amounts of OM as collateral, leading to abnormal market activity.
Control Measures and Price Impact: OKX took control of the linked accounts to mitigate risks, resulting in a sharp drop in OM's price, although the exchange's Insurance Fund covered the significant losses incurred during this incident.
Ongoing Investigations: The source of the unusually large amounts of OM tokens remains unexplained, and OKX has submitted evidence to regulatory bodies and law enforcement, with multiple legal processes currently underway.
Criticism of MANTRA Team: OKX criticized the MANTRA team for shifting blame onto the exchange instead of addressing the suspicious activities, labeling their response as unprofessional.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) 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 MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.061 | 0.0687 | 0.0775 | 0.0852 | 0.094 | 0.102 | 0.111 |
| Fibonacci | 0.0687 | 0.075 | 0.0789 | 0.0852 | 0.0915 | 0.0954 | 0.102 |
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