DAILY CRYPTOCURRENCY NEWS

Balance Sheet Shrink Message from the FED

Fed Board Member Lael Brainard said balance sheet will be reduced quickly. It was also stated that the current inflation is quite high and the way to reduce the existing inflation is very important. On top of this statement, Bitcoin tested the resistance point once again.

Terra Might Become the Largest Bitcoin Holder

Do Kwon, the founder of Terra, invested another $230 million in Bitcoin in 3 separate transactions. Over-the-chain data shows that Terra has received more than $1.5 billion in BTCs so far.

Canadian Interest in Bitcoin ETFs at ATH Level

Bitcoin outflow from the stock markets reaching its highest levels in a year, investors' trust in this asset continues to increase. According to Glassnode data, inflow into the Canadian Bitcoin ETFs have reached all-time highs.

Metaverse Fund from HSBC

HSBC has launched a fund that focuses on investment opportunities in the metadatabase by designing a “Metaverse On-Demand Strategy Portfolio” for its wealthy customers living in Hong Kong and Singapore. According to Bloomberg, this metaverse fund will focus on five key areas: computing, infrastructure, experience and discovery, interface, and lastly virtualization.

Goldman Sachs to Offer OTC Ethereum Options

Goldman Sachs said they plan to offer OTC trading options for Ethereum exclusive to their customers. The investment bank is also showing increasing customer interest before Ethereum's transition from PoW consensus to PoS consensus. 

Adidas Announces Collaboration with Metaverse Avatar Platform

Adidas has announced that it has launched a collaboration with Ready Player Me, an inter-game avatar platform for the metaverse. They will launch a personality-based platform created by artificial intelligence that includes Adidas Originals' Ozworld shoe collection. 

Grayscale Adds AVAX, DOT and ATOM to Diversified Funds

Grayscale Investments announced that it added 3 crypto assets (AVAX, DOT, ATOM) to 3 different diversified funds and removed two products as part of the balancing. It has been informed that no news token were added.

Starbucks Launches in Metaverse

Another name that took its place in the metaverse was Starbucks. Howard Schultz, CEO of the company, said they plan to move into the metaverse and NFT world by 2022

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359274.46 TRY

Bitcoin gained a 0,50% value during morning hours and is priced around $43.350. When we consider the BTC/USDT pair technically, the BTC, which faced a reaction from 48,300 (the 200MA level), saw sales pressure when Fed Board Member Lael Brainard said that the balance sheet shrink would be fast and the $44,500-45,700 band was broken downwards. The daily chart metrics show that there is a sell signal from the MACD after a long time. BTC, which broke the Fibo'61.80 level downwards as of the daily close yesterday, can test the level of 41.750 (the 50MA level).

RESISTANCES 44.987 / 46.618 / 47.737
SUPPORTS 42.237 / 41.118 / 39.487

BITCOIN [BTC] 359274.46 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24614.17 TRY

Ethereum gained a 1,00% value during morning hours and is priced around $3200. When we consider the ETH/USDT pair technically, there is no major change in the outlook, as we mentioned in the daily newsletter yesterday. The symmetrical triangle formation existing as of 12 January in the daily chart was broken upwards in the weekly period. There had been a rise towards the $3500-3585 band along with momentum. ETH, which had a daily close of over $3488 (the 200MA level) on Sunday, lost the pricing, despite the permanence above this level. In ETH, which broke the uptrend in the daily period this morning, the intersection of DEMA 7 and 14 gave a sell signal after a long time. A short-term rise may be observed for ETH, with positive divergence in RSI on the 1-hour chart.

RESISTANCES 3338 / 3471 / 3566
SUPPORTS 2880 / 3013 / 3109

ETHEREUM [ETH] 24614.17 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.11 TRY

AVAX gained a 1,05% value during morning hours and is priced around $83.75. When we consider AVAX/USDT pair technically, AVAX had a stagnated price movement as of January but broke the zone upwards, and the momentum moved towards $103.62. A price movement from $65 has started and continued. AVAX found support at $82.42 (Fibo'50). But a daily close occurred below the 200MA level, it can result in a sales pressure. With a breakout, a rise towards $87 might follow.

RESISTANCES 89,23 / 94,95 / 98,90
SUPPORTS 69,89 / 75,61 / 79,56

AVALANCHE [AVAX] 318.11 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.77 TRY

Ripple gained a 2,00% value during morning hours and is priced around $0.7739. When we consider the XRP/USDT pair technically, XRP, which recently hit the level of $0.8945 (the 200MA level), fell below $0.8582 again with the reaction. XRP, which used to perform price movements between 50MA-200MA levels, broke the 50MA level downwards. As long as the support level ($0.74) of the uptrend in the daily period is not broken downwards, we interpret the last price movement as a pullback.

RESISTANCES 0,8123 / 0,8489 / 0,8785
SUPPORTS 0,6799 / 0,7165 / 0,7461

RIPPLE [XRP] 8.77 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 988.54 TRY

LTC gained a 0,36% value during morning hours and is priced around $111.8. When we consider the LTC/USDT pair technically, the rising channel, which has existed since March 14, was lost downwards last week. LTC closed the day below at $114.7 because it started a downward price movement along with SAR and MACD sell signals. The first level of support for the LTC, which continues to be under pressure from sales, was lost at $114.7-116. If the decline continues, the level of 104 dollars might follow.

RESISTANCES 120,30 / 126,40 / 131,49
SUPPORTS 97,92 / 104,02 / 109,11

LITECOIN [LTC] 988.54 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 0,45% value during morning hours and is priced around $15.47. When we consider the LINK/USDT pair technically, LINK has price action inside the horizontal channel as of May 26 and lost the minor uptrend as of daily close two days ago. The persistence of this zone is important in LINK, which has pullbacks towards the support level in the $15.20-15.60. If it is lost downwards, the level of 13 dollar (the lower line) might follow.

RESISTANCES 16,45 / 17,44 / 18,12
SUPPORTS 13,13 / 14,12 / 14,79

BASIC ATTENTION TOKEN [BAT] 5.61 TRY

BAT gained a 3,30% value during morning hours and is priced around $0.7744. When we consider the BAT/USDT pair technically, BAT has been dominated by a horizontal/slightly rising price movement for a while. Although there has been a daily close above $0.9287 (the 200MA level) but this level has recently been lost downwards again. In the 4 hour chart, BAT, which broke the rising minor trend as of March 7, retreated towards this trend as of February 24. As we mentioned earlier, this trend and the level of $0.7713 (the 50MA level) is working as support.

RESISTANCES 0,8179 / 0,8602 / 0,8975
SUPPORTS 0,6587 / 0,7010 / 0,7383

BASIC ATTENTION TOKEN [BAT] 5.61 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.