Paxos Launches USDG: A New Stablecoin Backed by DBS Bank
Launch of USDG: Paxos has introduced USDG, a new stablecoin backed by U.S. dollars and managed in partnership with DBS Bank to ensure compliance with Singapore's Monetary Authority regulations.
Importance of Stablecoins: USDG aims to provide a reliable digital currency for transactions in Singapore, enhancing financial efficiency and stability amidst the growing demand for trustworthy cryptocurrency options.
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Technical Analysis for USDG
Technical Sentiment Analysis for Global Dollar (USDG) As of , Global Dollar (USDG) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 3 indicators are flashing buy, while 6 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for USDG 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, USDG 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 $-.
Global Dollar (USDG) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.967 | 0.975 | 0.987 | 0.995 | 1.007 | 1.015 | 1.028 |
| Fibonacci | 0.975 | 0.983 | 0.987 | 0.995 | 1.003 | 1.007 | 1.015 |
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