DAILY CRYPTOCURRENCY NEWS

Ethereum Ranked 21st After Mastercard and NVIDIA

Gaining more than 200% value in 2021, Ethereum’s market cap has surpassed that of huge companies such as P&G, Nestle and PayPal. Ethereum has now 21st largest market value after NVIDIA.

DCG Plans $750 Million Investment in Grayscale

Digital Currency Group, one of the investors in the digital assets and blockchain sector, plans to increase its investment in Grayscale Bitcoin Trust from $250 million to $750 million. The company will finance these purchases with the active cash it holds.

Mogo Expands Its Cryptocurrency Portfolio with ETH

Providing digital solutions to help its members control their financial health, Mogo has expanded its cryptocurrency portfolio by purchasing 146 ETH at an average price level of $2,780 as well as its previous Bitcoin investments. Mogo has made approximately $450 million investment in Ethereum.

EBay Will Accept Payment in Cryptocurrencies

EBay CEO Lannone has stated that they are working on new payment options for their customers, including the cryptocurrencies, as well as looking at ways to enter the NFT business.

S&P Lists Cryptocurrency Index

S&P has started to list Bitcoin, Ethereum and Crypto Mega Indexes. With the product which takes cryptocurrencies as reference, the investors can follow the financial world with the cryptocurrencies.

South Koreans Support 20% Tax on Crypto Gains

South Korea will introduce a new regulation which predicts to pay 20% of the profits made by digital asset trading to the government. According to a recent survey, over 53% of South Koreans support the taxation of cryptocurrencies.

 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 358774.15 TRY

Bitcoin is trading in the zone of $56,000 this morning, with a 2% change. Although there is some profit sales in cryptocurrencies, there is no news flow that will strain the industry. On the contrary, we see a situation where there are a lot of supportive developments, such as the S&P Index, eBay news and PayPal stablecoin news. While BTC purchases continue in liquid and high-value wallets, miners are still not selling, reflecting the stability and their strong expectations.

When we consider the BTC/USD parity technically, the most important resistance of the day will be around $56,500. This zone is the zone where both the return to the upward channel and the Fibo'50 breakdown will occur. Breaking this place could be the catalyst for Bitcoin. The upper band of the bullish channel passes at $62,000. The outlook can continue to rise above $55,500 as intra-channel hold occurs.

RESISTANCES 58.204 / 60.471 / 62.023
SUPPORTS 54.385 / 52.833 / 50.566

BITCOIN [BTC] 358774.15 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24610.57 TRY

Ethereum is trading at $3,370 this morning, although it fell to the $3,160 level after approaching the $3,500 level. After Ethereum's consecutive records, leveraged positions in USD and USDT, which are liquid in all derivative exchanges, have broken records. Although the rise of Ethereum exceeds Bank of America in terms of market value, we can say that our Ethereum expectations continue.

When we consider ETH/USD technically, the uptrend continues, while the momentum and MACD in ETH, which pauses at $3,425, remain on the positive side on the hourly and daily basis. Ethereum is pushing the middle band of the long-term bullish channel, while the $3,200 zone is supporting the pullbacks. In case of persistence above $3,400, ETH can continue to rise in the short term without waiting for a correction.

RESISTANCES 3526 / 3684 / 3910
SUPPORTS 2759 / 2916 / 3143

ETHEREUM [ETH] 24610.57 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.33 TRY

AVAX is trading at $34.40 this morning. AVAX's moves in the bullish channel gained particularly high volatility yesterday. Block.com claims that PayPal is meeting with Ava Labs for the work of the stablecoin it will issue, but the source is not cited. Similarly, before that, claims were made about they held a meeting with the CBRT and volatile movements were observed that time. It should be highlighted that there is no such confirmation from an official source or from their own social media accounts.

In the current technical view, the higher slope trend is broken within the bullish channel. If this trend, which is at the level of $34.85, cannot be broken, the possibility of pullback within the canal is high and we can see a retreat to the lower band of the channel, $32.75. In the case of an acceleration in the upward trend, the mid-band of $36.20 and if it breaks, the $40 level can be seen again.

RESISTANCES 37,75 / 40,89 / 44,42
SUPPORTS 24,43 / 27,56 / 31,09

AVALANCHE [AVAX] 318.33 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.78 TRY

Although Ripple was down to $1.48 this morning with a 5% price drop, it tested $1.40 in the American session, oscillating 10% on the hourly candle. The parity, which was supported by selling pressures on the support of $1.41 at the Fibo'50 level, was subject to retracements led by Bitcoin, as there was no individual news pricing or buying. Periodic sales pressures in the crypto money market are normal and balance the margins. The important thing is to hold on to the train. Therefore, if the recovery trend of XRP finds support, the parity will relax after a delay. May 6 is an important date for XRP since it is the date on which the SEC meeting will be held. Ripple will take advantage of any legal dispute leaked to the press. At the SEC, chaired by Gary Gensler, meeting decisions may be read positively on XRP investors’ side. Oscillators started to move up from the bottom zones.

RESISTANCES 1,6219 / 1,7558 / 1,8918
SUPPORTS 1,0821 / 1,2160 / 1,3520

RIPPLE [XRP] 8.78 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 987.46 TRY

Litecoin is around $284 with a 4% retracement this morning. Although Litecoin, whose correlation has weakened with the decrease of Bitcoin dominance to 46%, is affected by the Bitcoin-led corrections, buy reactions are not delayed. Looking at the monthly performances, while Bitcoin is in the negative zone, there is a 40 point increase for Litecoin. Thus, it continues to be one of the major units leading altcoins.

When the LTC/USD parity is considered technically, the parity will have absorbed the decline experienced during the night hours with an increase of 3%. Short-term corrections do not change the overall direction of movement in an uptrend. $275 will be the intermediate support level for the parity, while a persistence above $286 will form Fibonacci support. The MACD continues to give a buy bullish signal in the 4-hour period, the maturity lines are still positive. Momentum, on the other hand, is far from dangerous levels. Initial resistance for the parity is in the $307 zone, while the channel mid-band is passing through the $320 level.

RESISTANCES 299 / 313 / 326
SUPPORTS 244 / 258 / 272

LITECOIN [LTC] 987.46 TRY +7.00 +0.03 VOL 21 LTC

Chainlink is above the $40.00 level with a 4% retracement this morning. While the amount locked in the DeFi industry has reached $75 billion, LINK HODL wallets are on the rise and still remain discounted with the approach of EIP 1559 in response to Ethereum's premium stance. Adjustments for Chainlink, the ETH token with the largest market value, continue to be on an upward trend by relieving leveraged positions that are leveraged. On the other hand, with Digital Currency Group increasing its Grayscale investments to $750 million, corporate purchases on the LINK side can be expected to increase.

Technically speaking, the LINK/USD parity closed the 4-hour candlestick at $39.00 after testing the $43.00 level, which is the upper band of the minor bullish channel. $39.00 is also the middle band of the major channel. While Momentum confirms the bullish reaction, the MACD maturity lines show a declining buying appetite. For this reason, the $38.80 and then the $37.00 Fibo'50 zone will be the intraday support zones, while the $41.00 resistance can be tested again in the short term with the MACD recovering.

RESISTANCES 42,81 / 45,33 / 47,33
SUPPORTS 33,76 / 36,29 / 38,28

BASIC ATTENTION TOKEN [BAT] 5.62 TRY

Brave Browser's Basic Attention Token is listed at around $1.24, with a 3.5% retracement this morning. According to research conducted by the Santiment data analysis platform, activity trend lines extracted based on daily active deposits give positive signals for BAT. On the other hand, updates within the Brave platform offer three times the speed and low battery usage.

When the BAT/USD parity is considered technically, the parity responded twice from the lower band of the channel within the boundaries of the bullish channel it started on April 23 and tested the upper band of the channel by experiencing a 30% rise in both. The parity, which faced large purchases in reaction zones, gives its third response at $1.20. While the Fibo'50 slice is formed in the $1.25 zone, bringing this level to support can bring it to test in the short term by converging to the $1.37 resistance.

RESISTANCES 1,3079 / 1,3762 / 1,4299
SUPPORTS 1,0639 / 1,1322 / 1,1859

BASIC ATTENTION TOKEN [BAT] 5.62 TRY +7.00 +0.03 VOL 21 BAT

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