DAILY CRYPTOCURRENCY NEWS

Ethereum 2.0 Deposit Contract Surpasses $30 Billion in Value

9,008.082 ETH (worth circa 30.2 Billion) have been locked in the Ethereum 2.0 deposit contract. This deposit contract allows users to transfer funds from the Ethereum Proof-of-Work mainnet to Beacon Chain, a parallel-running Proof-of-Stake version of the blockchain. Ethereum is expected to switch to Proof-of-Stake with a proposed merge with Beacon Chain, tentatively scheduled in June 2022.

$1.3 Billion Worth Bitcoin Withdrawn from Exchanges as Miners’ Reserves Reach Yearly High

After the last correction, in which BTC lost 15% value in days, Bitcoin miners again began to accumulate large amounts. At the same time, yesterday was the most significant Bitcoin outflow from crypto exchanges since September.

Turkish Investors Turn to Crypto As Lira Continues to Depreciate

Along with the economic difficulties and Turkish Lira devaluation, most Turkish investors have now turned their attention to cryptocurrencies (especially Bitcoin and Tether).

Over Half the Banks in Switzerland Want to Offer Crypto to Clients Within the Next Three Years

The moderate approach to cryptocurrencies by Swiss banking institutions continues. According to a survey, more than half of the banks in Switzerland are considering offering crypto investment services to their customers in the next three years.

Jack Dorsey Creates a Fund Supporting BTC Developers in Legal Battles

Former Twitter CEO Jack Dorsey announced the creation of a fund to support BTC developers. This support will include paying legal bills, developing litigation strategies, and hiring a lawyer.

Bitcoin Price Forecast from Swiss Bank Seba
Licensed Swiss bank Seba estimated that the price of Bitcoin could reach 75 thousand dollars this year. "Corporate interest will probably increase the price," said the bank's CEO, which is the reason behind this forecast.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 353044.35 TRY

Bitcoin lost a 0,49% value during morning hours; the current price is $43.704. After the most recent correction, in which BTC lost 15% in value in a matter of days, bitcoin miners once again began to accumulate a large amount. At the same time, yesterday was the most significant Bitcoin outflow from crypto exchanges since September.

When we consider the BTC/USDT pair technically, BTC tested below $40,000, found support, and started to price inside an upward movement. MACD gives a buy signal, and there is a positive divergence in the daily chart. The indicators show us the possible surge towards $44964 (Fibo'50).

RESISTANCES 44.449 / 45.243 / 46.239
SUPPORTS 42.659 / 41.663 / 40.869

BITCOIN [BTC] 353044.35 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24566.93 TRY

Ethereum lost a 0,75% value during morning hours, and the current price is $3348,80. 9,008.082 ETH (worth circa 30.2 billion) have been locked in the Ethereum 2.0 deposit contract. This deposit contract allows users to transfer funds from the Ethereum Proof-of-Work mainnet to Beacon Chain, a parallel-running Proof-of-Stake version of the blockchain. Ethereum is expected to switch to Proof-of-Stake with a proposed merge with Beacon Chain, tentatively scheduled in June 2022.

When we consider the ETH/USDT pair technically, ETH closed two days above the uptrend as of August, finding support at $2985 and surging. ETH broke $3261 (Fibo'61,80) as of the daily close, and MACD goes well. Risk appetite appears to have increased along with the news flow from the U.S side. We expect a short-term rise for ETH.

RESISTANCES 3427 / 3518 / 3629
SUPPORTS 3022 / 3114 / 3225

ETHEREUM [ETH] 24566.93 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.60 TRY

AVAX lost a 2,20% value during morning hours, and the current price is $93,73. When we consider the AVAX/USDT pair technically, AVAX had retreated to $79.80 (support level) in the weekly chart and then broke the level of $86,62 (Fibo'50) upwards. AVAX surged towards $98,14 (Fibo'61,80) along with the general market recovery. The first resistance level is $102,59 (50MA).

RESISTANCES 97,27 / 100,91 / 104,93
SUPPORTS 81,95 / 85,59 / 89,61

AVALANCHE [AVAX] 319.60 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.31 TRY

Ripple lost a 0,10% value during morning hours, and the current price is $0,90. When we consider the XRP/USDT pair technically, there is some recovery along with the market in general, and the downtrend that existed as of December 21 in the 4-hour chart was broken upwards and closed the day above. The MACD gave a buy signal yesterday. As we mentioned in the daily bulletin yesterday, the short-term outlook is supportive of the rise to $0.85 levels.

RESISTANCES 0,8126 / 0,8340 / 0,8614
SUPPORTS 0,7150 / 0,7364 / 0,7638

RIPPLE [XRP] 8.31 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 972.18 TRY

LTC lost a 1,30% value during morning hours, and the current price is $140,2. When we consider the LTC/USDT pair technically, LTC broke the downtrend as of November and closed the day above. However, it has strong resistance at $145. Therefore, a breakout triggers a rise towards $158.

RESISTANCES 144,37 / 148,65 / 155,31
SUPPORTS 122,49 / 126,77 / 133,43

LITECOIN [LTC] 972.18 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 2,00% value during morning hours, and the current price is $26,23. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel, the positive outlook stopped. From a long-term perspective, LINK, which is still at levels close to the channel lower line (200MA), is considered the proper accumulation level for medium-term investments.

RESISTANCES 27,02 / 27,98 / 28,68
SUPPORTS 23,70 / 24,66 / 25,36

BASIC ATTENTION TOKEN [BAT] 5.51 TRY

BAT lost a 1,79% value during morning hours, and the current price is $1,0946. When we consider the BAT/USDT pair technically, BAT broke the uptrend as of November last weekend, finding support at $0.9679 (Fibo'38,20) and went up. The bullish engulfing candle has formed in the BAT, as we mentioned in the daily bulletin yesterday, and it broke the uptrend. This morning it appers to have retested the level.
If the trend is maintained above the 50MA, rises to the level of $1,23 are expected.

RESISTANCES 1,1234 / 1,1549 / 1,1880
SUPPORTS 0,9942 / 1,0257 / 1,0588

BASIC ATTENTION TOKEN [BAT] 5.51 TRY +7.00 +0.03 VOL 21 BAT

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.