DAILY CRYPTOCURRENCY NEWS

El Salvador President: Two More Countries Will Accept Bitcoin As Legal Tender This Year

El Salvador President Nayib Bukele recently shared some of his Bitcoin-related predictions for the new year on Twitter. Bukele is confident that at least two countries follow the lead of El Salvador by conducting the largest cryptocurrency legal tender.

Shiba Inu (SHIB) Burns Over 125 Million SHIB Within Last Five Days

Over 125 million SHIB has been burned in the last five days and over 5.5 million in the previous 24 hours. (Tokens are destroyed or "burned" to reduce the number in circulation.) This has a positive effect on the price due to the decreasing supply.

Algofi and Algorand Foundation Partner to Launch $3M Liquidity Mining Initiative

The team behind Algorand’s “first algorithmic money market and stablecoin” has joined forces with the Algorand Foundation to give away 2M $ALGO tokens in Q1 2022 via the Aeneas Liquidity Program.

BTC's Market Dominance Has Dropped Below 40%

Bitcoin's dominance has fallen below 38% for the first time since 2018. Experts think this could be the beginning of the dominant market for altcoins. As Bitcoin dominance falls, the idea that Bitcoin's market share will move to other altcoins prevails.

New Development in Shiba Inu: DAO

DAO of Shiba Inu will collectively make management decisions on the project's ShibaSwap exchange. Users who have staked to receive Shiba Inu's reward token $BONE will be able to vote.

SEC Appoints New Senior Advisor For Cryptocurrency Oversight

The Securities and Exchange Commission has hired Corey Frayer to advise Chairman Gary Gensler on cryptocurrency regulations. Frayer was previously a professional staff member on the Senate Banking Committee and a policy advisor for the House Financial Services Committee.

Polkadot Completed Sixth Parachain Slot Auction

Efinity has won Polkadot’s sixth and last parachain auction for 2021. Efinity now joins the list of other parachains that have gained a place in the Polkadot parachain network. Previous winners include Acala, Moonbeam, Astar, Parallel Finance and Clover Finance.

Jeremy Hogan Says Ripple-SEC Lawsuit Could Be Over by April 2022

Lawyer Jeremy Hogan believes that the Ripple-SEC case will probably be concluded by April 2022. In response to an XRP user who asked for his honest opinion on when the Ripple case will be concluded, the lawyer also stated that the case is unlikely to be extended until the summer.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 360276.22 TRY

Bitcoin lost a 0,88% value during morning hours; the current price is $46.882. Bitcoin's dominance has fallen below 38% for the first time since 2018. Experts think this could be the beginning of the dominant market for altcoins. As Bitcoin dominance falls, the idea that Bitcoin's market share will move to other altcoins prevails.

When we consider the BTC/USDT pair technically, BTC closed the day below the major uptrend on August 3 recently and broke the trend after completing a retest. BTC has a stagnated price movement between the uptrend and 200MA level ($47.964). A breakout will determine the trend. When we consider the positive divergence and buy signal from the RSI-MACD, the breakout is expected.

RESISTANCES 47.575 / 48.377 / 48.815
SUPPORTS 46.335 / 45.897 / 45.095

BITCOIN [BTC] 360276.22 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24844.30 TRY

Ethereum lost a 1,00% value during morning hours, and the current price is $3795. When we consider the ETH/USDT pair technically, ETH found support at $3680 (Fibo'50) last week. And so, it continues its price action inside the downtrend on December 1. In the MACD histogram, there is a positive divergence in ETH price movement, which creates a falling wedge against a rising wedge. Therefore, it is expected to experience an upward price movement with a potential buy signal. A daily close above the resistance level of $3931 marked with blue (Fibo'61,80) should occur to resolve sales pressure.

RESISTANCES 3858 / 3918 / 3984
SUPPORTS 3606 / 3666 / 3732

ETHEREUM [ETH] 24844.30 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 324.66 TRY

AVAX lost a 1,40% value during morning hours, and the current price is $111,67. 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. If this level is broken upward again, it may rise to the previous peak level of $147. The 50MA level ($107) should be followed when retreating.

RESISTANCES 115,67 / 119,17 / 121,69
SUPPORTS 103,63 / 107,13 / 109,65

AVALANCHE [AVAX] 324.66 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.36 TRY

Ripple lost a 1,50% value during morning hours, and the current price is $0,8466. Lawyer Jeremy Hogan believes that the Ripple-SEC case will probably be concluded by April 2022. In response to an XRP user who asked for his honest opinion on when the Ripple case will be concluded, the lawyer also stated that the case is unlikely to be extended until the summer. 

When we consider the XRP/USDT pair technically, XRP continues price action inside the ascending channel on September 7, a death-cross is about to occur after a breakout of the 50-200MA. XRP had a rise at the weekend, after finding support near the lower line. If it doesn't close the day below the line, a rise towards the 50MA level is expected.

RESISTANCES 0,8580 / 0,8735 / 0,8826
SUPPORTS 0,8088 / 0,8243 / 0,8334

RIPPLE [XRP] 8.36 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 985.54 TRY

LTC lost a 0,80% value during morning hours, and the current price is $150,3. When we consider the LTC/USDT pair technically, LTC could hold onto the demand zone between $141-144. But it has not yet received strong demand.  As we mentioned in the daily bulletin on Friday, it still has a double bottom formation. A daily close above the $166,8 level is required to confirm this formation. For example, if the $142,7 level is maintained and there is no daily close below, the double bottom formation target for LTC is at $190.

RESISTANCES 152,29 / 155,28 / 157,30
SUPPORTS 142,27 / 145,26 / 147,28

LITECOIN [LTC] 985.54 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 2,50% value during morning hours, and the current price is $21,40. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel as of July 2020, LINK stands out positively at the weekend (after finding support near the lower line on Friday). However, it has a pullback this morning. We expect the first quarter of 2022 to be positive for LINK, where we see the buy signal from MACD.

RESISTANCES 22,10 / 22,94 / 23,69
SUPPORTS 18,92 / 19,77 / 20,51

BASIC ATTENTION TOKEN [BAT] 5.58 TRY

BAT gained a 1,30% value during morning hours, and the current price is $1,3149. When we consider the BAT/USDT pair technically, BAT faced resistance from the zone marked with blue this morning. It had been rising for the last four days. For BAT, whose buy signal from MACD continues in the daily chart, if the blue zone is crossed upwards and the daily close comes up, the sales pressure will decrease, and the momentum, the upward price movement will accelerate. If it holds on below, the sales pressure will cause a pullback towards the downtrend.

RESISTANCES 1,3718 / 1,4226 / 1,5001
SUPPORTS 1,1152 / 1,1660 / 1,2435

BASIC ATTENTION TOKEN [BAT] 5.58 TRY +7.00 +0.03 VOL 21 BAT

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