Crypto Card Market Activity Surges Amidst Sluggish Trading Sentiment
- Record User Top-Ups: According to Paymentscan data, crypto card top-ups reached a new high in the last week of June, indicating sustained user demand for crypto cards and reflecting strong market interest in crypto products.
- Spending Nears Peak Levels: Crypto card spending has surpassed $10 billion, establishing itself as one of the best product-market fits for on-chain products, suggesting an increasing acceptance of crypto payments among users that could encourage more merchants to adopt crypto payment options.
- Trend of Stablecoin Adoption: The usage of crypto cards highlights the wider adoption of stablecoins, particularly with significant inflows on TRON and BNB chains, indicating a growing trust and demand for stablecoins among users.
- Increased Compliance Challenges: As crypto activity rises, the demands for regulatory compliance are intensifying, especially regarding KYC and real-time sanctions screening, with industry experts warning that some crypto neobanks may face survival challenges in the next 18 months.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) 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 BASED 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, BASED 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 $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00314 | 0.0386 | 0.0673 | 0.103 | 0.131 | 0.167 | 0.196 |
| Fibonacci | 0.0386 | 0.0631 | 0.0782 | 0.103 | 0.127 | 0.142 | 0.167 |
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