Bitcoin lost a 0,38% value during morning hours and is priced around $41.975. Analysts at Wells Fargo Investment Institute (WFII), the adviser and subsidiary of Wells Fargo Bank, claimed that cryptocurrency adoption is still in its early stages. In a report released by WFII's Global Investment Strategy team, analysts stated that Wells Fargo believes it is not too late to invest in crypto, despite its skyrocketing prices.

When we consider the BTC/USDT pair technically, BTC broke the downtrend as of November 10 and surged towards $45.855. This zone (the dip level on December 2021) worked as a resistance level and along with sharp sales, BTC retreated below the 50MA level. Regarding the 7 and 14-day DEMA intersections, we expect the declines to continue towards the blue zone for BTC, where we see a sell signal.

Ethereum lost a 0,36% value during morning hours and is priced around $2867. According to Santiment, Ethereum's median-sized transfer fee has dropped below $3. This shows that the demand for Ethereum transactions remains low. Lower transaction costs and increased scalability are expected to improve Ethereum's investor outlook. As a result, low fees often increase the likelihood of a bounce for Ethereum price.

When we consider the ETH/USDT pair technically, ETH broke the short-term minor downtrend as of January 4 upwards and surged towards the major downtrend. But the breakout of the long-term downtrend could not hold onto. ETH dropped when facing resistance from the downtrend and the 50MA level. If it loses the demand zone marked in blue, it can fall to $2500.

AVAX lost a 0,85% value during morning hours and is priced around $77,28. When we consider the AVAX/USDT parity technically, AVAX, which tested its major long-term downtrend several times, faced a reaction from this level and sales pressure, particularly after the data from the USA. The drop continued to the demand zone marked in blue for AVAX, which lost the 50MA level. If another breakout occurs, the next short-term support level is $72,12 (200MA).

Ripple lost a 1,90% value during morning hours and the current price is $0,7912. When we consider the XRP/USDT pair technically, XRP broke the sideways trend at $0,57-0,64 upwards. After the downtrend and 50MA level breakout, it had experienced a sharp rally. XRP tested the $0,74 (the 50MA level) on Friday. If it loses this momentum, the fall might deepen.

LTC lost a 1,95% value during morning hours and is priced around $123,3. When we consider the LTC/USDT pair technically, LTC, which has seen a horizontal price movement between $113,1 and $ 104,9 for a long time, broke the sideways and surged towards $145. After facing resistance from this zone, LTC lost the level of $129,8 (50MA level) on Friday. We would expect LTC to continue its decline towards $113,1.

LINK lost a 1,85% value during morning hours and is priced around $15,36. When we consider the LINK/USDT pair technically, it appears the scenario we discussed last week has come true. The lower support level of the price action, which was stagnated in the daily chart was broken on Friday. After this breakout, our target level of $16 was reached yesterday. But LTC has not received any reversal signals, our expectation is there will be a retracement towards the demand zone marked in blue.

BAT lost a 2,15% value during morning hours, and is priced around $0,7861. When we consider the BAT/USDT pair technically, there is no major change in the outlook, as we mentioned in the daily newsletter yesterday. BAT often tested the strong uptrend on June 2021 and broke it downwards last week. Then, it retreated towards the target level of $0,80. For LTC, which has not yet received a reversal signal, the decline may continue towards the demand zone marked in blue.