USX Stablecoin Liquidity Plummets to $0.1, Recovers to $0.94 After Emergency Funds
- Liquidity Crisis: On December 26, USX stablecoin's liquidity plummeted to $0.1, but swiftly recovered to $0.94 following an emergency fund injection by the Solstice team, highlighting the volatility and potential risks in the cryptocurrency market, prompting closer scrutiny of stablecoin stability and collateral practices.
- Emergency Fund Injection: The rapid intervention by the Solstice team not only stabilized USX's price but also ensured that its assets were over 100% collateralized, which, despite market volatility, bolstered investor confidence, indicating solid backing behind the stablecoin.
- Market Reaction: While the incident drew attention to liquidity management in decentralized finance platforms, there were no direct reactions from major industry figures or governments, suggesting that market trust in USX remains under observation.
- Total Value Locked Increase: Concurrently with USX's recovery, Solana's Total Value Locked (TVL) also saw an increase, indicating a potential correlation between the resilience of the stablecoin and the overall health of the network, further attracting market interest.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE) As of , (STABLE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 indicators are flashing buy, while 2 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 stock.
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 | -0.00284 | 0.00635 | 0.0143 | 0.0235 | 0.0315 | 0.0407 | 0.0487 |
| Fibonacci | 0.00635 | 0.0129 | 0.017 | 0.0235 | 0.0301 | 0.0341 | 0.0407 |
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