UAE Government Recognizes AE Coin Stablecoin for Payments
- Stablecoin Recognition: The UAE federal government has officially recognized the AED stablecoin AE Coin, powered by MBank, for government fee payments, marking the country's global leadership in digital asset innovation and expected to attract more businesses and individuals to digital payments.
- Payment Infrastructure Development: Several banks, including the Commercial Bank of Dubai and Abu Dhabi Islamic Bank, have signed MOUs with MBank to establish the payment infrastructure for AE Coin, ensuring efficient payments across government service channels and enhancing overall service quality.
- Enhanced Financial Transparency: This initiative will accelerate revenue collection processes, reduce operational costs, and streamline reconciliation and auditing procedures, thereby providing a comprehensive and accurate view of financial transactions at the national level, improving government service efficiency.
- Industry Milestone: The launch of AE Coin is seen as a significant milestone for the virtual assets and payment token industry in the MENA region, reinforcing the UAE's commitment to payment innovation and creating more business opportunities and flexibility.
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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 5 technical signals, shows that 2 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 | 0.0191 | 0.0215 | 0.0241 | 0.0265 | 0.029 | 0.0314 | 0.0339 |
| Fibonacci | 0.0215 | 0.0234 | 0.0246 | 0.0265 | 0.0283 | 0.0295 | 0.0314 |
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