DAILY CRYPTOCURRENCY NEWS

After Stake the Amount of Ethereum Increased

Prior to the Ethereum 2.0 launch scheduled on December 1, the number of staked Ethereum (ETH) required to switch from Proof of Work to the Proof of Stake protocol increased by almost 50%, reaching 700,000 Ethereum, according to stakefish's leading validator.

Bitcoin Experiences Sharpest Retracement in the Last 3 Months

Bitcoin dropped almost $ 3,000 from near all-time highs. While the reason for the decline is not entirely clear, the sales move takes place at a time when Brian Armstrong, CEO of Coinbase, raised concerns on Wednesday night about rumors that the US Treasury Department was tracking owners of cryptocurrency wallets.

Nigeria Takes Decision To Expand Its Crypto Activities

Nigeria's Ministry of Finance reported that it is in talks with the country's securities regulator to develop a new framework for blockchain and cryptocurrencies, a move that could accelerate adoption in Africa's largest economy. As a result of the growing interest in Bitcoin and other cryptocurrencies, this regulation will help control the activities of crypto traders in the country.

Bitcoin Step From eBay E-Commerce Site

Crypto-focused shopping application Lolli has partnered with e-commerce company eBay to offer “free” Bitcoin (BTC) rewards to its 127 million users. Lolli users can earn 1% reward for every purchase they make from eBay, one of the world's most popular online marketplaces.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 349972.10 TRY

Bitcoin is on a slight horizontal appreciation this morning, trying to absorb yesterday's selling pressure with 0.5% moves. Although there is a news-induced drop across the market and even if these decreases exceed 10% in other coins, investors panic, we are experiencing a day when the news is digested and then the market reacts. Due to the reverse correlation in the gold - Bitcoin relationship, the vaccine news had a positive effect on cryptocurrencies. However, there is a gap between the number of cases and expectations in the world. Again, it is useful to be sensitive to COVID news.

When we examine Bitcoin technically; When we look at the corrections of yesterday's decline in the hourly chart with a more myopic perspective, 16,900-17,500 corresponds to the Fibo'23.60 and 38.20% points, respectively. Even though it passes under the narrow channel it is in, with a broader perspective, every trend that has occurred since March is preserving itself. Therefore, there is no deterioration in the overall bullish outlook, we will be tracking places between the two correction levels as of today. Because if the level of 17,500 is not broken, the horizontal trading strategy will continue.

RESISTANCES 18,200 / 19,240 / 20,290
SUPPORTS 16,115 / 15,070 / 14,030

BITCOIN [BTC] 349972.10 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24232.55 TRY

Ethereum is gaining around 1% this morning against the dollar. Hard sales were seen in almost all of the cryptocurrency markets yesterday, following allegations that the CoinBase exchange would close margin transactions and a famous newspaper would subsequently express negative opinions about them. However, positive scenarios for the Ethereum 2.0 update continue. Therefore, the reactions that will come after the news is digested can be formed according to the expectations of the projects on the basis of coins. The minimum stake amount to be locked on the Ethereum network has also been exceeded.

When we consider ETH / USD technically, yesterday's decline continued to the middle of the bullish channel and the market provided support to Ethereum with the reaction buying here. The upper band of the channel is at the $ 570 level, and again, the $ 590 level will be followed to accelerate purchases. The outlook is in the direction of recovery appetite. It is useful to keep track of price behavior at close resistance levels throughout the day. Because if it is in the appetite to overcome the resistances, we are likely to see a faster recovery.

RESISTANCES 570 / 615 / 660
SUPPORTS 480 / 435 / 390

ETHEREUM [ETH] 24232.55 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 316.96 TRY

AVAX has seen a retracement from $ 4.42 to $ 3.35 in yesterday's trading, with the upward trend that started on November 5, with the sales pressure in the last two days. Even if it is out of trend, we see that it is trying to return to this trend again. AVAX / USD, which is trying to take action by rising around 8% after yesterday's pullbacks, has not been able to maintain its gains for now. During the day, we need to follow the wide band between $ 3.35 - $ 4.20.

RESISTANCES 3,7990/ 4,0180/ 4,0270
SUPPORTS 3,3210/ 3,0610/ 2,8430

AVALANCHE [AVAX] 316.96 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.15 TRY

Ripple surged near 10% after yesterday's pullbacks, trading around $ 0.55. Ripple CEO Brad Garlinghouse considered Ripple's option to be declared a security, which is used as a payment instrument. Garlinghouse explained that he was unaware of a global market that thinks Ripple is a security. Ripple's move to its headquarters in the US is expected to accelerate after the US regulatory statements. In the long run, expectations continue to move in a positive direction.

When we consider XRP / USD technically, it has started the bullish movement again, although retracements are observed on the four-hour charts to the support level of $ 0.4700. XRP, which relaxed from the $ 0.6500 zone to the $ 0.4700 zone, three times formed a rising trend in the four-hour candles, giving the first signal for the continuation of the bullish movement. In addition, the TOBO view formed in an hourly period started to increase the expectation that the appetite for purchase would increase. He tries to find support and react at $ 0.54 during the day. If the uptrend continues, the $ 0.5950 level can be considered. The outlook is in the direction of recovery for now.

RESISTANCES 0,6080 / 0,6650 / 0,7430
SUPPORTS 0,4730 / 0,3950 / 0,3380

RIPPLE [XRP] 8.15 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 962.02 TRY

After yesterday's pullbacks, Litecoin surged around 3%, trading around $ 69.00. Litecoin is trying to rebound after hard retreats in price. After the panic in investors, according to Chainalysis data, the amount of Litecoin transferred to exchanges between wallets in the last day reached the highest level in the last three months. In the long run, expectations continue to move in a positive direction. After yesterday's drop, the news effect is being absorbed and prices are trying to find support.

When we consider LTC / USD technically; As a result of the ongoing price fluctuations since March, a double bottom was observed and the target is above 105 $. However, due to non-technical unannounced reasons, this rise was seen as high as $ 94.00. LTC / USD, which has been under news-based selling pressure for the past two days, is currently in a balancing effort after testing $ 64.00 from strong support. Unless it can break down $ 64, the formation's $ 105 expectation continues. If the $ 80.20 level is the upper resistance and manages to break above it during the day, it can return to the old horizontal band and the reaction towards the 84.90 levels can be observed.

RESISTANCES 75,90/ 82,10/ 87,90
SUPPORTS 63,80/ 58,00/ 51,80

LITECOIN [LTC] 962.02 TRY +7.00 +0.03 VOL 21 LTC

LINK is trading near $ 12.80, up about 2% this morning, based on yesterday's trading. According to Glassnode data, the amount of LINK transferred between wallet exchanges reached the highest level in the last three months when daily averages are considered. At the same time, LINK average trading volume reached the highest level in the last six months. LINK total transfer volume transferred to inter-wallet exchanges reached the highest level in the last three months. In LINK, where sharp retractions were observed after gradual increases, all eyes were turned to the launch of Ethereum 2.0 on December 1.

Technically speaking, the $ 11.70 level worked as support for LINK pullbacks. Trying to react inside the bullish channel, LINK / USD rose again to the $ 12.90 level, gaining strength from the support level. Trying to break the $ 12.90 level, LINK's current $ 13.65 level is an important resistance point, and if it fails, a return to the support level can be seen. Therefore, evaluating the reactions up to this point, investors may consider the $ 14.05 level if the $ 13.65 level is broken.

RESISTANCES 13,50 / 14,30 / 15,40
SUPPORTS 11,65 / 10,50 / 9,75

BASIC ATTENTION TOKEN [BAT] 5.45 TRY

When we consider BAT / USD technically; BAT / USD, which retreated to $ 0.2080 after yesterday's selling pressure, is trading near $ 0.2270 from strong resistances in the hourly period. It is useful to monitor the reactions that may come from the support levels. The 0.2270 Fibo coming to the 23.6% retracement level is significant, and if it breaks here and holds above $ 0.2270, the $ 0.2390 and $ 0.2490 levels can be considered.

RESISTANCES 0,2300/ 0,2420/ 0,2530
SUPPORTS 0,2080/ 0,1965/ 0,1850

BASIC ATTENTION TOKEN [BAT] 5.45 TRY +7.00 +0.03 VOL 21 BAT

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.