DAILY CRYPTOCURRENCY NEWS

Ethereum 2.0 Approaching

.The final preparations for Ethereum 2.0 launch will soon be underway. Lead developer at Prysmatic Labs Raul Jordan, who has been building Ethereum 2.0 software for over two years, explained his team would be wrapping up all feature development by October 15. 

 

XRP Discussed at the World Economic Forum

After Ripple's CEO stated that XRP could act as a bridge between CBDCs, the World Economic Forum report stated that XRP is the most suitable digital currency for interbank transactions.

 

Only 2.5 Millon BTC Left Unmined

Bitcoin is an asset whose supply is limited to 21 million. Currently, 18.5 million BTC has been mined, and only 2.5 million BTC remain. Thus, 88% of the supply is completed.

 

New Record From Bitcoin, Over $ 10,000 For 63 Days

For the first time in Bitcoin history, a new record is broken with BTC prices maintain over $ 10,000 for 63 consecutive days.

 

USA Preparing for New Stimulus Package

President of the US House of Representatives Nancy Pelosi said that the new stimulus package, which will reach $ 2.4 trillion, will be distributed to US citizens as it was the previous time.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359419.79 TRY

Crypto markets turn positive while Bitcoin takes the lead. Especially the new addresses that are increasing rapidly and 88% of BTC supply that’s mined, being primary signals that show the demand can grow. Additionally, the USA stated that a new stimulus package is preparing which can reach $ 2.4 trillion, will be distributed to US citizens as it was the previous time. Hence, the positive news for cryptocurrencies came in from the USA just like it was a march.

Considering BTC/USD in a technical framework, we see that the secondary uptrend is continuing. As can be seen from the chart there’s a double bottom-like condition over the trend and it’s moving forward on the congestion zone. Afterward there can be a volatility situation depending upon positive movement in the congestion process. 
 

RESISTANCES 10,835/ 10,980/ 11,140/ 11,270
SUPPORTS 10,550/ 10,400/ 10,210/ 10,000

BITCOIN [BTC] 359419.79 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24634.67 TRY

ETH 2.0 update, which can solve the density problem at the Ethereum network, is getting prepared for launch. Prismatic Labs stated that they plan to wrap up all feature development by October 15. Later on, Ethereum showed signs of positive movement and turned the negative environment that came from the last week. Nonetheless, the news on the update didn’t affect on Ethereum prices yet. In addition, the new stimulus package from the USA is quite positive for ETH and also for Ethereum Network while DeFi boom is still continuing. 

In our opinion, ETH hit the bottom last week with 313 $ levels and in the weekly chart, a double-bottom formation and an uptrend can be seen. That’s why ETH seems technically positive. If there’ll be a downward breakout from 360$ which has been tested yesterday, the buys can grow rapidly. And the upper area contains 385-410 $ zone.  
 

RESISTANCES 357/ 364/ 371/ 378
SUPPORTS 350/ 344/ 336/ 332

ETHEREUM [ETH] 24634.67 TRY +7.00 +0.03 VOL 21 ETH

RIPPLE [XRP] 8.75 TRY

Ripple, that’s trying to recover from the sharp falls last week, gain interest regarding Ripple CEO's talks about XRP being a bridge for interbank transactions. Afterward, the World Economic Forum stated that XRP can be the best digital currency for interbank transactions. The positive news reflected XRP prices yesterday but sell-side pressure that came in during the day made XRP to fallback which caused Ripple to start the day with a 1,31% loss. 

Considering XRP technically, the 0,2460 $ support and the uptrend of XRP created triangle congestion. This congestion was broken out by XRP during the night hours which caused a fallback to 0,2400 $ levels and currently, XRP is traded at 0,2410 USD.  
 

RESISTANCES 0,2485/ 0,2530/ 0,2610/ 0,2650
SUPPORTS 0,2380/ 0,2310/ 0,2240/ 0,2200

RIPPLE [XRP] 8.75 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 989.73 TRY

Litecoin is trying to recover from the sharp falls that have been affected last week. The number of Houle or Lost coins reached a 3 year high. It was seen that the interest in the Litecoin network was declining during the last few days but an increase in Hodled coins shows that there are still investors who believe in Litecoin Project. However, the sell-side pressure which is kicked in from yesterday affected LTC prices and caused a fallback. After all, LTC started the day with a 2,49% loss.

Litecoin didn’t break the uptrend which it was following since the sharp falls. Sell-side pressure made Litecoin fallback but it gained support from its uptrend. The effects of positive news on Litecoin, helped LTC prices to maintain it’s position above the uptrend. And LTC is currently traded at 45,40 USD.  

RESISTANCES 47,50/ 49,50/ 51,30/ 53,90
SUPPORTS 44,00/ 42,95/ 41,75/ 39,20

LITECOIN [LTC] 989.73 TRY +7.00 +0.03 VOL 21 LTC

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