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- Paypal has recently updated their policy about false information.The company has also been focusing on buyback
- Technical indicators are suggesting a downside trend.Meanwhile, spoofing has seen an increase in this holiday season.
Paypal has recently updated their that any false or inaccurate information will be subject to a $2,500 fine. It will be taken directly from the users account. Many analysts are concerned about the vagueness and fund seizing.PayPal has revoked the word “misinformation” from its policy due to strong backlash, as per Forbes article. The company did, however, leave the words “false, misleading or inaccurate information” on the policy. The company is also doing buybacks which can push the price to a new high. There is also lot of spoofing also in the pay pal in this holiday season. The market cap of Paypal has touched the $96 Billion mark.
Bears Are Favoring The Paypal
The weekly technical chart of the PYPL suggests a downside momentum. On coming to the daily chart the asset price is currently trading near the value of $85 with 0.84% drop. It is currently trading below the 50 and 100 Daily Moving Average. There is an upcoming negative crossover which can push the share price down. Resistance of PYPL can be seen near $100.The support of the share can be seen near $65.
RSI: RSI of the asset price is currently near 49 highlighting its presence in the neutral zone. There is a negative slope formed suggesting a downside trend.
Conclusion
Paypal has updated their new policy about the false information. The stock price has been seeing a downside trend but can move to a new high in the future.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
