Shell Launches Bitcoin Payment Option for Fuel in South Africa
Shell's Adoption of Bitcoin: Shell has reportedly begun accepting Bitcoin for fuel payments at its South African locations, marking a significant step in corporate cryptocurrency adoption.
Impact on Bitcoin's Utility: This move could enhance Bitcoin's utility in retail transactions within South Africa, although there has been no official confirmation from Shell's leadership regarding this development.
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Technical Analysis for SHELL
Technical Sentiment Analysis for MyShell (SHELL) As of , MyShell (SHELL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SHELL 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, SHELL 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 $-.
MyShell (SHELL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00735 | 0.0165 | 0.0256 | 0.0348 | 0.0439 | 0.0531 | 0.0622 |
| Fibonacci | 0.0165 | 0.0235 | 0.0278 | 0.0348 | 0.0418 | 0.0461 | 0.0531 |
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