Senator Delays Stablecoin Yield Draft Release Again
- Draft Release Delay: Senator Thom Tillis announced that the stablecoin yield draft will be delayed due to uncertainty around the Senate Banking Committee's markup schedule, with expectations for release next week or later, potentially impacting the legislative timeline.
- Division Between Banks and Crypto Firms: The stablecoin yield clause remains a contentious issue, intensifying the divide between traditional banks, which fear that rewards could siphon deposits, and crypto firms, which argue that restrictions could stifle innovation.
- Legislative Timeline Pressure: The CLARITY Act missed the April 13-20 window for markup, shifting focus to the upcoming May 21 Senate recess, thereby increasing pressure on the legislative process.
- Ongoing Negotiations: Despite ongoing discussions with bank trade groups and crypto firms, no agreement has been reached between Tillis and Senator Angela Alsobrooks, indicating unresolved disagreements on key provisions.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE). As of , (STABLE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0173 | 0.0211 | 0.0235 | 0.0273 | 0.0297 | 0.0335 | 0.036 |
| Fibonacci | 0.0211 | 0.0235 | 0.0249 | 0.0273 | 0.0297 | 0.0312 | 0.0335 |
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