DAILY CRYPTOCURRENCY NEWS

Ethereum Hash Rate Reaches All-Time High

Ethereum's mining power has just faced a new surge, and the cryptocurrency market in general has reached an all-time high as it faces another wave of selling pressure caused by rising risk aversion trends in global financial markets.

 

Bitcoin Investors Act Differently in Current Market Conditions

Blockchain analytics firm Glassnode has revealed how differently long-term and short-term Bitcoin (BTC) investors respond to the current weakness in the crypto market. Based on the HODL waves metric, which shows the behavior of different-term Bitcoin holders, Glassnode stated that long-term BTC holders did not see heavy selling despite the ongoing price correction. Glassnode says that when short-term investors see it drop after buying, they soon sell.

 

Top Fed Officials Banned From Owning Stocks, Crypto Under New Restrictions

The Federal Open Market Committee (FOMC) has passed rules prohibiting senior Fed officials from investing in stocks and cryptocurrencies. The new rules formally establish the guidelines, first announced in October. The committee argued that it was necessary to restore public confidence in the institution.

 

SEC Gets Lettes Over Grayscale’s Bitcoin ETF

The U.S. Securities Exchange Commission claims to have received nearly 200 letters asking whether it would approve the application. Most of these letters arrived in February, according to regulators.

 

Crypto Market Turns Red As Russian Invasion Fears Grow

This weekend, the cryptocurrency market turned red as fears of a Russian invasion continued to grow. The greater the fear of Russian invasion of the Donbas region in Ukraine, the greater the sales in the cryptocurrency market.

 

New Bill Could Make Bitcoin Adopt as Legal Tender in California

California could make Bitcoin legal tender. New bill submitted by political advisors Bitcoin expert Dennis Porter and political advisor Ian C. Calderon have jointly prepared a new proposal that could make Bitcoin legal tender in their opinion.

 

Ripple Gaining Edge Versus SEC? New Evidence Could Support XRP

The lawsuit between payments company Ripple and the US Securities and Exchange Commission (SEC) continues. Newly published documents entering their second year can give the payment company an advantage over commission. Two notes dating back to 2012 could shed new light on the case, according to Eleanor Terret, a journalist at Fox Business, and James K. Filan, a former federal prosecutor who has closely followed the case. The documents revealed that Ripple was conducting legal analysis on the XRP token at that time.

 

Fidelity International Launches Spot Bitcoin ETP in Zurich

London-based Fidelity International is launching a new Bitcoin exchange-traded product (ETP) to satisfy the appetite for digital currency among Europeans.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 353512.09 TRY

Bitcoin gained a 1,70 % value during morning hours and is priced around $39.030. London-based Fidelity International is launching a new Bitcoin exchange-traded product (ETP) to satisfy the appetite for digital currency among Europeans.

When we consider the BTC/USDT pair technically, BTC, which broke the strongly held 50MA level last week, continued its downward price. With the negative divergence and double bottom pattern in the RSI, the target level has been reached for BTC, where we received reversal signals. However, the support zone marked in blue has been broken to the downside and if this zone, which was retested this morning, is not broken to the upside, the decline may continue towards the $36,500 level.

RESISTANCES 40.041 / 40.730 / 41.735
SUPPORTS 38.347 / 37.342 / 36.653

BITCOIN [BTC] 353512.09 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24560.31 TRY

Ethereum gained a 3,60% value during morning hours and is priced around $2723. Ethereum's mining power has just faced a new surge, and the cryptocurrency market in general has reached an all-time high as it faces another wave of selling pressure caused by rising risk aversion trends in global financial markets.

When we consider the ETH/USDT pair technically, there was a sharp fall in ETH, which could not hold onto its major short-term downtrend and 50MA level as of December 1st. There is no clear reversal signal in ETH with this price action, which broke the blue-marked support zone to the downside. The downward price movement is expected to continue.

RESISTANCES 2810 / 2868 / 2984
SUPPORTS 2461 / 2519 / 2635

ETHEREUM [ETH] 24560.31 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.99 TRY

AVAX gained a 4,35% value during morning hours and is priced around $80,60. When we consider the AVAX/USDT pair technically, AVAX, which has received many reactions from the blue-marked resistance zone last week, could not hold onto the long-term major downtrend but the trend was broken to the downside again. AVAX started day positively, when retreating towards the support zone at $ 75,5-79. This morning AVAX tested the 50MA level ($81,67). If an upward breakout and persistence occur, a rise towards the downtrend ($88) might follow.

RESISTANCES 84,43 / 87,74 / 91,67
SUPPORTS 69,95 / 73,26 / 77,19

AVALANCHE [AVAX] 319.99 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.32 TRY

Ripple gained a 1,75% value during morning hours and is priced around $0,7930. The lawsuit between payments company Ripple and the US Securities and Exchange Commission (SEC) continues. Newly published documents entering their second year can give the payment company an advantage over commission. Two notes dating back to 2012 could shed new light on the case, according to Eleanor Terret, a journalist at Fox Business, and James K. Filan, a former federal prosecutor who has closely followed the case. The documents revealed that Ripple was conducting legal analysis on the XRP token at that time.

When we consider the XRP/USDT pair technically, XRP broke the downtrend and 50MA level upwards, had experienced a sharp rally towards the 200MA level and still is priced above the 50MA. For XRP, where we see the descending triangle in the daily chart, if the $0.75 level is broken to the downside, we expect the decline to continue.

RESISTANCES 0,8131 / 0,8286 / 0,8522
SUPPORTS 0,7349 / 0,7504 / 0,7740

RIPPLE [XRP] 8.32 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 973.40 TRY

LTC gained a 2,15% value during morning hours and is priced around $113,2. When we consider the LTC/USDT parity technically, LTC, which has seen a horizontal price movement for a long time, broke the $113,1 level downwards and closed the day below. If it cannot hold onto it, the decline towards $104,9 might follow.

RESISTANCES 117,23 / 119,51 / 124,09
SUPPORTS 103,51 / 105,79 / 110,37

LITECOIN [LTC] 973.40 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 3,95% value during morning hours and is priced around $15,16. When we consider the LINK/USDT pair technically, LINK has price action inside the ascending channel in the 4-hour chart, but the same channel was broken to the downside last Friday. LINK has no subsequent decline, but it broke the weekly lower line channel as of July 27, 2020. LINK could start day positively and retested the lower line. For LINK, where we have not received any reversal signals, we expect the downward price action to continue towards the $13.76 level.

RESISTANCES 15,49 / 15,80 / 16,34
SUPPORTS 13,80 / 14,11 / 14,65

BASIC ATTENTION TOKEN [BAT] 5.51 TRY

BAT gained a 3,00% value during morning hours and is priced around $0,7246. When we consider the BAT/USDT pair technically, BAT has repeatedly tested the uptrend that has existed since June 2021 and broke it down again. The sales pressure followed. For BAT, which we are talking about head-and-shoulders formation, it has been confirmed and at the same time, there has been a pullback to our short-term price target, the support zone marked in blue. There is also the possibility of a double bottom formation for BAT, which appears to have a positive divergence in the daily chart in the case of a positive daily close. As long as the blue zone is not lost to the downside, there might be a rise towards the downtrend.

RESISTANCES 0,7485 / 0,7651 / 0,7931
SUPPORTS 0,6593 / 0,6759 / 0,7039

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

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