Texas Primaries Intertwined with Crypto Lobbying Efforts
- Crypto PAC Funding Surge: Protect Progress PAC has reported approximately $5 million in support of Menefee and $2.8 million opposing Green in Texas's 18th District, illustrating the crypto industry's active role in shaping policy outcomes.
- Candidate Support Tied to Industry: Menefee benefits from backing by the Blockchain Leadership Fund, while Paxton's campaign receives funding from the Fellowship PAC, linked to Cantor Fitzgerald and Anchorage Digital, highlighting the close ties between industry players and political candidates.
- Prediction Markets Indicate Sentiment: Kalshi shows a 91% probability of Menefee winning and 96% for Paxton, with total market activity exceeding $16 million, reflecting significant trader interest in the political landscape and its implications for crypto policy.
- Potential Policy Implications: Should Texas Republicans maintain a Senate majority, it could accelerate the implementation of crypto-friendly measures, particularly legislation related to stablecoins and digital assets, thereby influencing the regulatory environment moving forward.
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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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