DAILY CRYPTOCURRENCY NEWS

Elon Musk Says He Didn't Sell Bitcoin in High Inflation Environment

“I still own my Bitcoin, and I'm not going to sell it,” says Elon Musk, a signal for holding assets in high inflation times. MicroStrategy CEO Michael Saylor says “weak currencies will collapse”, referring to high inflation levels. Musk also stated that he included Ethereum and Dogecoin among his investments.

G7 Countries Implement New Crypto Sanctions Against Russia

The G7 countries are joining forces to ensure its effectiveness, with the Biden administration leading the economic sanctions against Russia for its invasion of Ukraine. Russia reportedly uses cryptocurrencies to maintain access to foreign capital and to evade and balance international “punishment”. However, the G7 countries are committed to taking measures to ensure that economic reflections are felt by Russia through "restrictive measures, breaking smuggling and closing gaps".

Bitcoin Owners Break All Time Record With Almost 40 Million Addresses

Although the price of Bitcoin has been slightly downhill since the beginning of the year, it has recently reached a new record of all time in terms of the number of addresses holding Bitcoin. As of March 14, nearly 40 million addresses have kept Bitcoin in their balance, IntoTheBlock announced on Twitter.

Austin to Support Texas Blockchain and Web 3.0 Technologies

According to an official government document, the Austin Mayor has directed the city manager to help create an effective government and community environment that supports new technologies such as Blockchain and Web 3.0.

European Parliament Votes Against Proof of Work Ban

The European Parliament's Committee on Economic and Monetary Affairs voted against a regulatory provision that could lead to a ban on Proof-of-Work mining. This provision was part of the regulatory framework surrounding cryptocurrencies in the European Union.

Digital Assets See Outflows This Week

Digital asset investment products saw a US $110 million outflow last week after a 7-week cash inflow. The highest outflow took place in Bitcoin with $56.9 million.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359480.11 TRY

Bitcoin lost a 2,15% value during morning hours; the current price is $38.810. Although the price of Bitcoin has been slightly downhill since the beginning of the year, it has recently reached a new record of all time in terms of the number of addresses holding Bitcoin. As of March 14, nearly 40 million addresses have kept Bitcoin in their balance, IntoTheBlock announced on Twitter.

When we consider BTC/USDT pair technically, after a horizontal market at the weekend, the formation of a bullish engulfing candle occurred in BTC, which surged by the support level yesterday. Despite the low transaction volume, when the short-term uptrend does not have a breakout, we expect an increase towards the 50MA level ($40.086).

RESISTANCES 39.653 / 40.523 / 41.149
SUPPORTS 38.157 / 37.531 / 36.661

BITCOIN [BTC] 359480.11 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24646.64 TRY

Ethereum lost a 1,65% value during morning hours and is priced around $2549. Digital asset investment products saw a US $110 million outflow last week after a 7-week cash inflow. The second highest debut was in Ethereum with $50.6 million.

When we consider ETH/USDT pair technically, it is seen that the price movement that has been stuck since the beginning of February is dominant in ETH, which continues its price movement below the long-term downtrend on the daily chart. A breakout in the horizontal support level of $2,476 may trigger a drop to $2,300. If it is permanently maintained, we expect the downtrend to be tested again.

RESISTANCES 2599 / 2650 / 2691
SUPPORTS 2416 / 2466 / 2507

ETHEREUM [ETH] 24646.64 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.04 TRY

AVAX lost a 3,20% value during morning hours and is priced around $66.89. When we consider the AVAX/USDT pair technically, AVAX had a stagnated price movement as of January but broke the downtrend on February 24 and closed the day below this level. Retesting this trend below for the past 2 days, AVAX continues to drop today. As long as it sustains below the trend, we expect the price movement to continue towards the previous dip level, $55.

RESISTANCES 70,28 / 73,87 / 76,23
SUPPORTS 58,38 / 61,97 / 64,33

AVALANCHE [AVAX] 319.04 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.67 TRY

Ripple lost a 1,80% value during morning hours and the current price is $0,7619. When we consider the XRP/USDT pair technically, XRP, which broke the downtrend upwards along with the positive decision taken on Friday, retested this trend when retreating yesterday and at the weekend. XRP still sustains the 50MA level, despite the above-average sales. As we mentioned in the daily bulletin yesterday, it will continue to rise towards the previous peak level as long as it sustains above this level.

RESISTANCES 0,7753 / 0,7906 / 0,8028
SUPPORTS 0,7203 / 0,7356 / 0,7478

RIPPLE [XRP] 8.67 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 989.19 TRY

LTC lost a 0,70% value during morning hours and is priced around $104.8. When we consider the LTC/USDT pair technically, there is no major change in the outlook. LTC, which continues to move below the downward trend that has not broken despite the force, is now priced below the level of $104.9. Although the recovery in RSI continues despite the price plunging, we do not expect permanent rises without the breakout of a downtrend.

RESISTANCES 107,15 / 108,92 / 111,50
SUPPORTS 98,45 / 100,22 / 102,80

LITECOIN [LTC] 989.19 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 1,60% value during morning hours and is priced around $13.22. When we consider the LINK/USDT pair technically, there is no major change in the outlook, the stagnated price movement continues. LINK has price action inside the horizontal channel as of May 26 and lost the lower line recently. $13.50 level is an important pivot point for LINK, which has lost a strong support level, even though positive divergence is sustained on the daily chart.

RESISTANCES 13,64 / 14,00 / 14,44
SUPPORTS 12,03 / 12,39 / 12,83

BASIC ATTENTION TOKEN [BAT] 5.64 TRY

BAT gained a 0,40% value during morning hours and is priced around $0.7209. When we consider the BAT/USDT pair technically, BAT broke the downtrend on November 28 and closed the day above this level. BAT retested the trend when retreating this morning and has a positive pricing. As we mentioned earlier in the daily bulletin, a positive divergence occurred on the daily chart. We expect BAT to rise towards $0.0786 (50MA level) along with the breakout of its trend. The positive divergence and positive news flow had triggered BAT to go up.

RESISTANCES 0,7355 / 0,7523 / 0,7791
SUPPORTS 0,6483 / 0,6651 / 0,6919

BASIC ATTENTION TOKEN [BAT] 5.64 TRY +7.00 +0.03 VOL 21 BAT

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