Major Hedge Funds will to Increase Crypto Assets to 7% in 5 Years

Although Bitcoin tested the level of $ 41,200 yesterday evening, it could not break the 200-day average here. This morning, it is hovering above the $40,000 region with a sideways view. The SEC did not include Bitcoin and cryptocurrencies on its 2021 regulatory calendar. We have seen before that the market is sensitive to the word regulation and gives a downward selling reaction. This news can also reduce the stress pricing on cryptocurrencies. While there has been a partial increase in active and new addresses, the options that Bitcoin can close the next month above 50 thousand dollars have started to give a 30 percent chance.

When we consider BTC/USDT technically, we haven't left the wide band range of 30 thousand-41 thousand $ horizontal region yet. With yesterday's attack, the 41,000 level reaffirmed a strong resistance. As we mentioned yesterday, the break of this level, where the 200-day EMA passes, can be harsh on the upside and may bring it closer to the levels of 45 thousand. In order for the buying power not to be lost, it should not fall below $38,800. 

Ethereum is trading sideways at $2530 levels in the morning. Although Ethereum tested the $2640 level yesterday, it could not break it, we can easily say that more techniques are working at the moment. The amount of ETH withdrawn from exchanges is increasing. Especially the London hard fork that will come on July 31 and after it may be creating anticipation in ETH pricing.

When we consider the ETH/USDT parity technically, the 50-day EMA could not be broken even though it was tested yesterday. Attacks towards this average, which crossed the $2660 level, did not come with strong trading volume and could not be broken. The $2465 level, which coincides with the Fibo'38.2 slice, acted as support. Therefore, the break of the symmetrical triangle, the break of the 50-day average and the break of the Fibo'50 level may bring with it a new and harsh bullish wave. For all of this to happen, the $2670-2750 levels must be broken.

Ripple is priced at $0.868 with horizontal price movement in the morning. A judge has denied the U.S. Securities and Exchange Commission's request for documents regarding Ripple's XRP transactions and lobbying that took place after the SEC filed a lawsuit last December. With the addition of this development to the news flow in favor of XRP recently, we see that XRP is the leading party in the case. We maintain our long-term outlook as positive as there has been no negative development for Ripple. When we examine the XRP/USDT parity technically, the lower band of the ascending channel, which started on May 23 in the daily period, was tested again at $ 0.84 today. As of June 11, the price movement stuck between the $0.899 level, which is the Fibo'23.60 slice and the lower band of the ascending channel, has been experienced in XRP, while maintaining the stochastic buy signal in the daily period, the RSI is below the resistance at 43.54. If the Fibo'23.60 resistance at $0.899 is broken to the upside, we think that the rise in price action will accelerate and it will continue to rise towards $1.05, which is the channel middle band and Fibo'38.20 slice. We maintain our upward expectation as there is no daily closing under the channel lower band.

LTC moves sideways this morning and is priced at $173.90. In the last 24 hours, Grayscale has purchased 44 LTC funds. The market is focused on the movements of the flagship BTC, and there were pullbacks throughout the market as BTC cut its 200-day average up. There is also a horizontal price trend in LTC due to BTC's price movements and news flows that suppress the entire market. When we consider LTC/USDT technically, LTC, which went above the descending trend that started from the peak level of May 10 in the daily period, could not continue this upward movement. In LTC, which continues the price movement within the symmetrical triangle, the break of this triangle will be decisive for the direction of the price movement. Since the general market situation is flat, we consider buying close to the support zones and gradually selling at the resistances as an appropriate strategy.

LINK continues to move just above the support at $24.20 with sideways change this morning. Although we have been following movements in parallel with the market in LINK recently, we are in the periods where technical analysis works well. The descending trend, which has existed since May 10, was rejected by LINK yesterday, before the $26.50-26.60 levels, which once again worked and this trend passed, were not broken. In the current situation, if it can hold above the $24.20 level, which corresponds to the Fibo'38.2 slice, there is a chance to at least react to the $26.50 region where the trend crosses. The view is horizontal, trying to hold on.

BAT is priced at $0.68, depreciating by about 1.7 percent this morning. When we consider the BAT/USDT parity technically, BAT, which broke the descending trend that has existed since May 7, turned from the resistance at the level of $ 0.72, which is the Fibo'23.60 slice, and experienced pullbacks towards the descending trend. It found support with the backlash at $0.67. Although there is a relaxation in %R, which returned from the oversold region in the 4-hour period, the sell signal continues in the stochastic. As long as it holds above the 0.67 support, we think the $0.722 Fibo'23.60 tranche will be retested. With a break here, the $0.84 levels, which coincide with the channel middle band, may be the next test places.

AVAX, which moves sideways in the morning hours, is priced at $14.60. When we consider the AVAX/USDT parity technically, AVAX, which has surpassed the descending trend that has existed since May 19 at $ 14.70, has returned from the resistance level of $ 15.73. AVAX, which did not realize the desired trading volume in the price movement following the breaking of the descending trend, continues its downward price movement on the trend line. Returning from the oversold zone, the %R and stochastic are in favorable zones for the price to move higher. For AVAX, which we see as the critical resistance level of $ 15.7, the next resistance level of $ 19.5, which is the Fibo'23.60 slice, is expected to work with this resistance break.