DAILY CRYPTOCURRENCY NEWS

DeFi TVL Surpasses $236 Billion - two hundred thirty six

The Decentralized Finance (DeFi) sector continues to strengthen in October after a month-long market recession. The latest data shows that it has reached all-time highs in terms of liquidity locked in these protocols.

Valkyrie to Apply For a Leveraged Bitcoin futures ETF

Four days after the Bitcoin futures exchange-traded fund made its debut on Nasdaq, Valkyrie Investments has filed for a leveraged Bitcoin futures ETF this time.

US Regulators to Examine How Banks Could Hold Bitcoin

According to a Reuters report, the head of the Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams, claims that regulators in the country are exploring a "clear path" to allow banks and customers to hold Bitcoin and other cryptocurrencies.

Ethereum Gets Closer to 2.0 with the Beacon Chain’s Altair Upgrade

The first update of Beacon Chain in the next 48 hours is Altair upgrade will take place. The first preparation for the “Merge,” which will take place for the transition to ETH 2.0, will begin with this upgrade.

Bank of Spain Issues Registration Guidelines For Crypto Services

All individuals and institutions in the country, including banks, will have to sign up using the new anti-money laundering registry of the Bank of Spain.

Vitalik Buterin: Layer 2 Is the Future of Ethereum Scaling
While making a speech at the 2021 Shanghai International Blockchain Week, Ethereum co-founder Vitalik Buterin said that Layer 2 was the future of Ethereum scaling and the only way to safely scale the network while preserving decentralization.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359038.62 TRY

Bitcoin gained a 0,50% value during morning hours; the current price is $60.681. A new ETF application has arrived to meet the demand from the institutional side. Four days after the Bitcoin futures exchange-traded fund made its debut on Nasdaq, Valkyrie Investments has filed for a leveraged Bitcoin futures ETF this time.

When we consider the BTC/USDT pair technically, BTC is moving in the ascending channel as of July. 20, retreated to $60.200 (Fibo'78,60), in line with the sharp rises through the market. The intersection of DEMA-7 with DEMA-14 still gives a buy signal. There needs some recovery in technical charts, but on-chain metrics are still positive. If it does not lose the $60.000 level, no pullbacks follow.

RESISTANCES 62.950 / 64.670 / 66.217
SUPPORTS 59.683 / 58.136 / 56.416

BITCOIN [BTC] 359038.62 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24584.73 TRY

Ethereum gained a 1,50% value during morning hours, and the current price is $4208. The decentralized Finance (DeFi) sector continued to strengthen in October after a month-long market recession. The latest data shows that it has reached all-time highs in terms of liquidity locked in these protocols. ETH can benefit from DeFi side developments. The first update of Beacon Chain in the next 48 hours is Altair upgrade will take place. The first preparation for the “Merge,” which will take place for the transition to ETH 2.0, will begin with this upgrade.

When we consider the ETH/USDT pair technically, it closed the day negative by wiping out its intraday earnings along with the sales through the market towards the daily close yesterday. It retreated to the ascending channel of October 11. ETH is still though priced above this trend, our $4600 price target, which is the head-and-shoulders pattern target, will remain valid as long as this trend is not lost on the downside.

RESISTANCES 4350 / 4430 / 4559
SUPPORTS 3932 / 4011 / 4141

ETHEREUM [ETH] 24584.73 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.52 TRY

AVAX gained a 1,20% value during morning hours, and the current price is $70,57. When we consider the AVAX/USDT pair technically, AVAX, which has been continuing its price movement within the ascending channel since Aug. 18, along with the support at the lower line of the channel. MACD proceeds to give a buy signal in the daily chart. As we mentioned before, the next target for AVAX is $87 (the mid-channel band).

RESISTANCES 72,01 / 74,94 / 77,39
SUPPORTS 61,25 / 64,18 / 66,63

AVALANCHE [AVAX] 318.52 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.76 TRY

Ripple gained a 0,95% value during morning hours, and the current price is $1,1120. When we consider the XRP/USDT pair technically, XRP experienced sharp rises and closed the day below the descending channel of October 10 yesterday, along with the pullbacks. XRP retested the downtrend again this morning. If it closes the day above it, it will resolve sales pressure, and continue to rise. Regarding the daily metrics, we see that a sell signal from MACD continues. As long as the daily close does not occur below the 50-MA, it will make a bullish move to test its downward trend again.

RESISTANCES 1,1495 / 1,1877 / 1,2164
SUPPORTS 1,0157 / 1,0539 / 1,0826

RIPPLE [XRP] 8.76 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 987.34 TRY

LTC gained a 2,1% value during morning hours, and the current price is $202,2. When we consider the LTC/USDT pair technically, LTC, which had been moving around the $188 level (200-MA) for a  week, ended its horizontal price movement lasting four days after yesterday's rise. As we mentioned in the bulletin yesterday, the decisive price movement for Litecoin will be determined by the breaking of the compression area. The rise continues today with the upward break of the $195,7 level (Fibo'78,60). In the daily chart, MACD gives a buy signal. LTC's price target for $230 is still valid as long as it holds onto the ascending channel.

RESISTANCES 208,42 / 213,93 / 222,87
SUPPORTS 179,52 / 185,03 / 193,97

LITECOIN [LTC] 987.34 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 2,50% value during morning hours, and the current price is $33,33. When we consider the LINK/USDT pair technically, LINK left the market behind and closed the day positively, despite there was a negativity as of the daily close across the market yesterday. LINK had been accumulating its candles below the 200-MA for a long time, but there occurred a rise in the last period as we expected. Also, LINK broke the descending major channel upward since the peak level of May 10, and yesterday retested it successfully. In our opinion, it will continue to rise. Our price expectation in the short term is still $36.

RESISTANCES 34,54 / 35,48 / 37,10
SUPPORTS 29,40 / 30,34 / 31,97

BASIC ATTENTION TOKEN [BAT] 5.62 TRY

BAT gained a 1,1% value during morning hours, and the current price is $0,7183. When we consider the BAT/USDT pair technically, BAT, which experienced sharp intraday rises, broke the descending major trend upwards but closed the day again below this trend yesterday. BAT closed the day above $0,7091 (50-MA) and went up again with the support at 50-MA. If it breaks the downtrend of September 9 in the daily chart up, we think the sales pressure will decrease, and the upward movement will gain momentum.

RESISTANCES 0,7497 / 0,7724 / 0,7971
SUPPORTS 0,6549 / 0,6776 / 0,7023

BASIC ATTENTION TOKEN [BAT] 5.62 TRY +7.00 +0.03 VOL 21 BAT

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