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- 1 Block CEO Jack Dorsey led a $6 Million investment raise for Bitcoin Payment company Azteco.
- 2 SQ stock price is currently trading in a weak upside trend. It has seen a drop of 1.46% in the intraday session.
Block has emerged as one of the prominent players in the digital payment industry. The company’s payment processing platform has observed a huge surge in adoption which can be seen in terms of revenue growth. Block faces competition from the Digital payment giants like Paypal, Stripe, and many more. Despite this fierce competition they have been able to make a stronghold in the digital payment ecosystem. SQ has also faced scrutiny from the Hindenburg in the past. Despite the Hindenburg report, the company continues to report profits and higher revenue.
The company is active in the cryptocurrency sector. CEO Jack Dorsey recently led a $6 Million investment fund to raise funds for Bitcoin payment company Azteco. SQ has demonstrated robust growth in the past few years and can continue to do the same.
SQ stock price is currently down by more than 40% from its 52-week high. Block Inc. has a market cap of $35.44 Billion which can see strong growth in the future. SQ stock price may see a strong surge in the future.
Is SQ Stock Price Ready For a Surge?
SQ stock price has been moving in a bearish trend in the weekly time frame. SQ price has shown a breakout from the downside parallel channel in the daily chart. It is currently trading near the value of $58.65 with a small drop in the intraday session. The upside trend of the asset price can observe a halt near the value of $65.Meanwhile, in a downside momentum, the bounceback can be observed near $55. SQ price is currently trading below the 50 and 100 Daily Moving Averages. There can be a negative crossover which can push the price to the next support level.
The RSI of SQ stock price is near 44 suggesting its presence in the neutral zone. There is a weak downside slope suggesting a consolidated momentum.
Summary
Block Inc. is looking to speed up expansion in the cryptocurrency realm. SQ stock price is seeing a weak upside trend but can see a new high in the future.
Technical Levels
Major Support:$55
Major Resistance:$65
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
