SEC Allows Exceptions for SAB 121, Sparking Industry Reactions
SEC Exemptions for SAB 121: The SEC's Chief Accountant, Paul Munter, announced that certain banks and businesses can obtain exemptions from the controversial SAB 121 accounting rule, which requires cryptocurrencies to be included on balance sheets, by partnering with regulators or not holding cryptographic keys.
Industry Criticism and Political Reactions: Senator Cynthia Lummis and industry leaders criticized the SEC's approach to SAB 121, arguing it bypasses Congress and creates confusion, with calls for reform as the rule is seen as limiting consumer options and inconsistent in its application.
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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 stock.
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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