Is Tornado Cash Rising from the Ashes? You Won’t Believe This! 😲

Ah, Tornado Cash! Like a phoenix, it rises from the ashes, soaring over 7% in the last 24 hours to a glorious $9.92! All thanks to the valiant support of its beleaguered co-founder, Roman Storm, who is fighting the good fight against the legal dragons. 🐉

In a twist of fate, the crypto knights at Paradigm and the Ethereum Foundation (EF) have donned their armor to defend Storm in this epic battle for justice. Who knew coding could be so dramatic? 🎭

Legal Winds Shift in Storm’s Favor

Paradigm, the brave crusader, has filed an amicus curiae brief, defending our hero against the federal charges of conspiracy to commit money laundering and sanctions violations. Because, you know, writing code is totally the same as running a money-laundering operation. 🙄

This brief boldly challenges the prosecution’s interpretation, arguing that publishing open-source, peer-to-peer software like Tornado Cash is not akin to running an illegal money-transmitting business. Shocking, right? 🤯

With a sprinkle of FinCEN guidance and legal precedent, Paradigm insists that developers should not be punished for merely writing and publishing code. What a radical idea! 💡

Meanwhile, the Ethereum Foundation has generously pledged $500,000 for Storm’s legal defense and will match up to $750,000 in community donations. They even had the audacity to declare: “Privacy is normal, and writing code is not a crime.” Well, color me surprised! 🎨

Price Analysis: TORN Finds Strong Support

According to the wise sages at CoinMarketCap, TORN reached an intraday high of $10.11 before retreating to $9.92. Technical indicators suggest that the journey to the moon might just be beginning! 🚀

The RSI (Relative Strength Index) is lounging around 54, indicating a neutral territory with a slight bullish bias. So, there’s still room for more upward momentum without getting too carried away. 🏋️‍♂️

Meanwhile, the MACD is starting to flatten just below the zero line, hinting that the bearish momentum is fading. A bullish crossover might be on the horizon—just what the crypto gambling sector ordered! 🎰

TORN Daily Chart with RSI, MACD | Source: TradingView

Immediate resistance is lurking at the 0.786 Fib level around $10.97, followed by the psychological barrier at $11.70. If the bulls break through this region, the next targets are $13.80 (1.618 Fib) and $17.20 (2.618 Fib). Talk about a rollercoaster ride! 🎢

As per the chart above, support remains strong around $9.13 (0.236 Fib), with a key lower boundary near $8.10 providing a safety net should the price decide to take a little nap. 😴

2025-06-17 13:27

Legal Winds Shift in Storm’s Favor

Price Analysis: TORN Finds Strong Support

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