Review and Current Status of RBI's Cryptocurrency Ban in India
- Overview of 2018 Ban: The RBI issued a ban in 2018 that severed banking ties with crypto businesses, causing exchanges to lose access to bank accounts and leading to a more than 99% drop in trading volumes within weeks, severely impacting the market.
- Supreme Court Ruling Impact: In March 2020, the Supreme Court ruled that the RBI's ban violated Article 19 of the Constitution, restoring banking access for crypto exchanges and rapidly revitalizing the market, marking a significant affirmation of crypto legality.
- RBI's Position in 2026: While the RBI maintains a cautious stance towards private cryptocurrencies and has recommended a blanket ban, there is currently no prohibition on banks servicing registered crypto businesses, indicating a balance between regulation and compliance.
- Promotion of Digital Rupee: The RBI is actively developing its Central Bank Digital Currency, the e-Rupee, aiming to integrate it into the welfare system by 2026, providing a controllable alternative to mitigate the risks posed by private cryptocurrencies.
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Technical Analysis for STRK
Technical Sentiment Analysis for Starknet (STRK). As of , Starknet (STRK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for STRK 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, STRK 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 $-.
Starknet (STRK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0236 | 0.0258 | 0.0279 | 0.0301 | 0.0322 | 0.0344 | 0.0365 |
| Fibonacci | 0.0258 | 0.0274 | 0.0284 | 0.0301 | 0.0317 | 0.0327 | 0.0344 |
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