DAILY CRYPTOCURRENCY NEWS

Argentine Regulators Consider Approving Bitcoin Futures

The biggest futures market in Argentina, Matba Rofex, is asking approval from regulators to launch cash-settled Bitcoin futures.

Ethereum Has Had A First Deflationary Week

Since the introduction of the ETH burning upgrade, Ethereum has had negative issuance for the first time in the history of the cryptocurrency, with the amount burned all week hovering above the generated amount. The main reasons for this include the increased network load and increased fees.

Avalanche Launches $200 Million Fund to Support Ecosystem Growth

Technology, business development, and ecosystem integration will be supported through the project, as well as the capital investments and token purchases.

US Regulators: Stablecoin Issuers Should Follow the Same Rules as Banks

President's Working Group on Financial Markets (PWG), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) reported on Friday about stablecoins. While regulators agree that stablecoin issuers need more oversight, they are asking congress to create guidelines as soon as possible, including a policy requiring stablecoin issuers to be insured banks.

Bitcoin and Ethereum Exchange-Traded Products Could Arrive in Australia

The Australian Securities and Investments Commission (ASIC) says the country may soon approve exchange-traded products (ETPs) for cryptocurrencies.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 358856.99 TRY

Bitcoin gained a 0,81% value during morning hours; the current price is $61.470. The positive news flow for Bitcoin continues. The biggest futures market in Argentina, Matba Rofex, is asking approval from regulators to launch cash-settled Bitcoin futures. Also, Australian Securities and Investments Commission (ASIC) says the country may soon approve exchange-traded products (ETPs) for cryptocurrencies.

When we consider the BTC/USDT pair technically, Bitcoin, which continues to move within the ascending channel that exists as of July 20, has pullbacks along with the reaction from the upper band. Bitcoin, which found support at the level of 62.236 dollars, coincided with the Fibo '78.60 zone yesterday, closed its daily close above this level. BTC has started the day positively. However, DEMA intersection and MACD do not give any buy signals in the daily chart. There is a reversal signal on the 4-hour metrics, though.

RESISTANCES 62.407 / 63.429 / 64.457
SUPPORTS 60.357 / 59.329 / 58.307

BITCOIN [BTC] 358856.99 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24590.02 TRY

Ethereum gained a 0,63% value during morning hours, and the current price is $4344. Since the introduction of the ETH burning upgrade, Ethereum has had negative issuance for the first time in the history of the cryptocurrency, with the amount burned all week hovering above the generated amount. The main reasons for this include the increased network load and increased fees.

When we consider the ETH/USDT pair, it has not reached the $4600 level of head-and-shoulders pattern target but closes increasingly to the target. Retreating has not shaped the sales volume, according to the price-volume correlation. In the daily chart, the MACD continues to give sell signal. Following that pullbacks will be limited and the uptrend will hold on.

RESISTANCES 4416 / 4485 / 4591
SUPPORTS 4066 / 4135 / 4241

ETHEREUM [ETH] 24590.02 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.55 TRY

AVAX gained a 1,12% value during morning hours, and the current price is $65,52. Avalanche has launched $200 Million fund to support ecosystem growth. Technology, business development, and ecosystem integration will be supported through the project and the capital investments and token purchases.

When we consider the AVAX/USDT parity in technical terms, AVAX moves in the ascending channel as Sept. 13. It holds onto the $62,94 level (50-MA), and stochastic gives a buy signal. As of this morning, the outlook for daily and hourly metrics is positive.

RESISTANCES 67,39 / 69,08 / 71,31
SUPPORTS 59,55 / 61,24 / 63,47

AVALANCHE [AVAX] 318.55 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.73 TRY

Ripple gained a 0,59% value during morning hours, and the current price is $1,0963. When we consider the XRP/USDT pair technically, XRP, which faced resistance at the downtrend that existed as of October 10, retreated to the $1,0577 (50-MA) level and found support there. The upward break of a solid short-term downtrend in XRP, which has been performing similar price movements for a long time, will trigger a sharp rise for XRP. Therefore, we currently consider XRP is undervalued compared to the other altcoins. Unless there is a daily close below the 50-MA, our thesis will be valid.

RESISTANCES 1,1096 / 1,1224 / 1,1383
SUPPORTS 1,0522 / 1,0650 / 1,0809

RIPPLE [XRP] 8.73 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 986.60 TRY

LTC lost a 0,30% value during morning hours; the current price is $197,0. When we consider the LTC/USDT pair technically, LTC holds onto the $185,3 (200-MA), but there was notable volatility on October 27. Litecoin has had sideways trend for a long time. Market conditions give signals for an upward break. There is recovery on MACD in the daily chart. If LTC closes the day above $201,5, a subsequent rise is possible.

RESISTANCES 201,38 / 207,50 / 213,07
SUPPORTS 178,00 / 184,12 / 189,69

LITECOIN [LTC] 986.60 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 1,26% value during morning hours, and the current price is $31,27. When we consider the LINK/USDT pair technically, LINK, which moves in the ascending channel as of September 20, faced resistance from the upper band and began to retreat.  LINK has opened its positivity flags compared to the market in general after finding support at $29,34 (Fibo'78,60) yesterday and broke the middle band, then closed the day. MACD continues to give a sell signal in the daily chart, the golden cross is about to occur (crossing its 50-MA above its 200-MA).

RESISTANCES 32,16 / 33,20 / 34,54
SUPPORTS 27,42 / 28,46 / 29,79

BASIC ATTENTION TOKEN [BAT] 5.61 TRY

BAT gained a 3,14% value during morning hours, and the current price is $1,0547. When we consider the BAT/USDT pair technically, BAT, which broke the downward trend along with the above daily volume on October 29, has risen sharply. It had tested the trend five times before. BAT could hold onto the peak level of September 5, but it has had a low transaction volume for three days. Holding above the level is a determinant for the price targets.

RESISTANCES 1,1100 / 1,1864 / 1,2527
SUPPORTS 0,8246 / 0,9010 / 0,9673

BASIC ATTENTION TOKEN [BAT] 5.61 TRY +7.00 +0.03 VOL 21 BAT

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