DAILY CRYPTOCURRENCY NEWS

Bitcoin Falls As Fed Confirms Interest Rate Hikes

Those losses across the stock and crypto market are attributed to the US Central Bank has confirmed that it will start raising interest rates in the coming months, thereby increasing inflation concerns. It is believed that this rate hike may occur earlier than expected, around March. Such a short period of time has motivated widespread sales among investors today.

Goldman Sachs: Bitcoin Price Can Reach $100K

The US multinational investment bank Goldman Sachs has highlighted a scenario in which Bitcoin reaches the oft-touted $100,000 price milestone. Institutional adoption for the primary cryptocurrency needs to increase significantly and surpass gold to reach this price level.

Liveliness Value Suggests Accumulation Prior to Parabolic Rally

Liveliness is an indicator that determines if old coins are being moved or not. Values close to one indicate that old coins are on the move, while values close to 0 indicate that young coins are being traded. There is an increase in the indicator, which means that long-term investors are liquidating their positions. This usually happens at the very beginning of bull markets, when BTC price rallies become parabolic.

Ethereum Became 140% More Profitable Than Bitcoin in 2021 and Already Performs Better in 2022

According to Ether's quarterly returns, the asset outperformed Bitcoin in every quarter of 2021, even with global cryptocurrency market sales in the second quarter of the year. The first quarter of the year, January-April, was the most successful period of Ethereum.

DeFi Lending Protocol Aave Is Developing a Mobile Wallet

Aave kicks off 2022 with the development of a mobile wallet. This move was announced to the public by the founder of the project, Stani Kulechov.

Bitcoin ETF Decision Postponed, SEC Commissioner Wonders Why
The United States Securities and Exchange Commission has postponed its decision to approve NYDIG’s spot exchange-traded fund (ETF) for Bitcoin (BTC), delaying until March 16. In a notice published on Tuesday, the SEC found it “appropriate to designate a longer period within which to issue an order approving or disapproving” the ETF.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359583.75 TRY

Bitcoin gained a 0,75% value during morning hours; the current price is $42.983. Liveliness is an indicator that determines if old coins are being moved or not. Values close to one indicate that old coins are on the move, while values close to 0 indicate that young coins are being traded. There is an increase in the indicator, which means that long-term investors are liquidating their positions. This usually happens at the very beginning of bull markets, when BTC price rallies become parabolic.

When we consider the BTC/USDT pair technically, BTC closed the last two days dropping below the major uptrend on August 3 and retesting it. BTC sharply plunged and retreated to $42.500 (the dip level on December 4). We expect that this level, which we mentioned earlier in the daily bulletin, will work as a support. But another downward breakout could pull BTC's price down to the level of $40,641, which corresponds to the Fibo'38,20.

RESISTANCES 45.935 / 48.702 / 50.402
SUPPORTS 41.468 / 39.768 / 37.001

BITCOIN [BTC] 359583.75 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24633.10 TRY

Ethereum gained a 2,30% value during morning hours, and the current price is $3442.86. According to Ether's quarterly returns, the asset outperformed Bitcoin in every quarter of 2021, even with global cryptocurrency market sales in the second quarter of the year. The first quarter of the year, January-April, was the most successful period of Ethereum.

When we consider the ETH/USDT pair technically, ETH moves inside the ascending channel as of September. It broke the lower line downwards yesterday and closed the day below. ETH, which experienced a downward acceleration after the breakout, retreated to its 200-day moving average, as we mentioned in the daily bulletin yesterday. Although we expect this level to work as a support, the next support level that should be followed is $3174.

RESISTANCES 3739 / 4009 / 4174
SUPPORTS 2870 / 3140 / 3305

ETHEREUM [ETH] 24633.10 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.63 TRY

AVAX gained a 3,10% value during morning hours, and the current price is $94,13. When we consider the AVAX/USDT pair technically, AVAX broke the ascending channel in August recently. Then it faced a reaction from $117,22 (Fibo'78,60 and the channel lower line) yesterday. After the reaction sales, AVAX broke the 50MA level ($106,91) and found support near Fibo'50. $93-80 is suitable for medium-term investments.

RESISTANCES 104,07 / 113,49 / 120,33
SUPPORTS 71,55 / 80,97 / 87,81

AVALANCHE [AVAX] 319.63 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.81 TRY

Ripple gained a 1,60% value during morning hours, and the current price is $0,7577. When we consider the XRP/USDT pair technically, XRP has a downward price movement along with the "Death Cross." XRP broke the ascending channel on September 7 and closed the day below. It has found support near $0,715 (demand-supply zone). There is no reversal signal in the short term. Therefore, we can interpret the buy orders from the support levels fit the medium-term positions.

RESISTANCES 0,8308 / 0,8964 / 0,9568
SUPPORTS 0,5788 / 0,6444 / 0,7048

RIPPLE [XRP] 8.81 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 991.18 TRY

LTC gained a 0,15% value during morning hours, and the current price is $135,5. When we consider the LTC/USDT pair technically, LTC has a stagnated price movement between $141-144 for a long time. And LTC broke the support zone downward and retreated to $129,3 (the dip level on December 4). Positioning close to this support level is seen as a suitable strategy for the LTC investor in the medium term.

RESISTANCES 148,61 / 159,13 / 168,43
SUPPORTS 108,97 / 119,49 / 128,79

LITECOIN [LTC] 991.18 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 4,10% value during morning hours, and the current price is $23,96. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel as of July 2020, broke the 200MA level ($24,39) and closed the day above this level. Despite the negative market, LINK stayed strong and evaluated the day positively. LINK has today retreated to the 200MA. LINK can rise towards $35-36 if it closes the day above. We follow $23,5-22,80, the support zone.

RESISTANCES 27,56 / 30,52 / 33,12
SUPPORTS 16,45 / 19,41 / 22,01

BASIC ATTENTION TOKEN [BAT] 5.65 TRY

BAT gained a 2,00% value during morning hours, and the current price is $1,1479. When we consider the BAT/USDT pair technically, BAT had a short rally and faced resistance from the zones marked with blue for the last few days. After the reaction, BAT broke $1,24 and found support at $1,1041 (Fibo'50). The uptrend in the BAT, which has been retreating to the same level as of this morning, can be tested again.

RESISTANCES 1,2854 / 1,4124 / 1,4946
SUPPORTS 0,8670 / 0,9940 / 1,0762

BASIC ATTENTION TOKEN [BAT] 5.65 TRY +7.00 +0.03 VOL 21 BAT

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