Pope's First Encyclical Critiques Modern Finance and Cryptocurrencies
- Encyclical Overview: Pope Leo XIV's inaugural encyclical, released on May 15, 2026, titled 'Magnifica Humanitas,' spans 245 paragraphs addressing artificial intelligence, economic models, labor, and inequality, emphasizing the moral foundations of modern society and showcasing a profound concern for financial innovation.
- Warning on Cryptocurrencies: In paragraph 160, the Pope warns that the lack of necessary anthropological and moral foundations in financial intermediation has led to manifest abuses and injustices, potentially triggering global economic crises, highlighting the risks associated with cryptocurrencies in this context.
- Shift in Income Structure: The Pope cautions that income from capital is replacing income from labor, marginalizing workers, and distinguishes between two types of finance: one that serves the real economy and creates jobs, and another that exists 'for its own sake,' fundamentally differing in nature.
- Wealth Concentration Issue: In paragraph 161, the Pope notes that while global wealth has increased, it is increasingly concentrated in fewer hands, stressing that unless transformations at the design stage prioritize preventing new inequalities, technological progress will inevitably lead to structural inequalities.
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Technical Analysis for
Technical Sentiment Analysis for (). As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for 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, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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