DAILY CRYPTOCURRENCY NEWS

Ethereum 2.0 Testnet Kintsugi Goes Live in Preparation for Merge

Ethereum developer teams have been hard at work preparing for Ethereum 2.0, the proof-of-stake platform designed to make the blockchain's transactions faster, cheaper, and less energy-intensive. But while ETH2 isn't ready totally yet, its first major testnet is, providing the public with a look into how the network may soon function.

Polkadot Launches Parachains that Improve Scalability

This weekend, Polkadot achieved a new milestone in its roadmap for increasing the scalability of its network. The first parachains managed by Acala Network, Moonbeam, Parallel Finance, Astar, and Clover became active on the Polkadot network. A parachain is a kind of individual, sovereign blockchain running on top of Polkadot.

Shiba Inu ($SHIB) Becomes Third Most-Used Token on Ethereum Over Last 7 Days

Meme-inspired cryptocurrency Shiba Inu became the third most used token in the Ethereum network after the two largest stablecoins USDT and USDC, as its investors became more active even during this period when the negative price movement prevailed.

Digital Asset Investment Products See First Outflows in 17 Weeks

According to the report by Coinshares, digital asset investment products saw outflows totaling $142m for the week ending on December 17th. This was the first release after 17 weeks of inflows. The previous largest outflow was in June 2021, when weekly outflows totaled $97 million.

Banks Offering Crypto Requires Global Regime, Says BoE Official

An increasing number of lending institutions worldwide offering crypto trading and custody services to their customers requires a comprehensive regime to protect the global financial system, according to BoE executive director for financial strategy and risk, Sarah Breeden.

Grayscale Bitcoin Trust Hits Record Discount of 21.3%

Grayscale’s major product GBTC has registered a record discount. At last week's end, the price of one GBTC share was $34.42, which is 21.3% lower than its underlying value. The increasing discount on GBTC may hint at weakening institutional interest in the asset class.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 349717.39 TRY

Bitcoin gained a 3,50% value during morning hours; the current price is $48.657. According to the report by Coinshares, digital asset investment products saw outflows totaling US$142m for the week ending on December 17th. This was the first release after 17 weeks of inflows. The previous largest outflow was in June 2021, when weekly outflows totaled $97 million. We do not interpret this negatively, despite the news flow from many central banks, especially the Fed, that would affect risky assets.

When we consider the BTC/USDT pair technically, Bitcoin, which continues to move within the downtrend that exists as of November 10, broke the $47.159 (200MA) level downward. BTC broke the uptrend on August 3 after testing this trend many times. BTC could hold onto the trend and closed the day. As of daily opening, BTC broke the 200MA and downtrend. It can surge towards $50.000.

RESISTANCES 49.779 / 50.885 / 52.995
SUPPORTS 46.563 / 44.453 / 43.347

BITCOIN [BTC] 349717.39 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24195.35 TRY

Ethereum gained a 2,35% value during morning hours, and the current price is $4038. Ethereum developer teams have been hard at work preparing for Ethereum 2.0, the proof-of-stake platform designed to make the blockchain's transactions faster, cheaper, and less energy-intensive. But while ETH2 isn't ready totally yet, its first major testnet is, providing the public with a look into how the network may soon function.

When we consider the ETH/USDT pair technically, ETH had recently closed the day below Fibo'61,80 and then broke it upwards. As we mentioned in the bulletin yesterday, ETH has had a stagnated price movement for the last ten days. A breakout would determine the trend. This morning the price movement shows us a breakout. A rise can follow if the daily close ends positively.

RESISTANCES 4128 / 4235 / 4421
SUPPORTS 3542 / 3649 / 3835

ETHEREUM [ETH] 24195.35 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 316.00 TRY

AVAX gained a 3,00% value during morning hours, and the current price is $117,71. When we consider the AVAX/USDT pair technically, AVAX, which has been continuing its price movement within the ascending channel since August, the consistent rise towards $117 (Fibo'78,60) occurred. AVAX continues its upward price movement after the retracement and finding the lower line and 50MA support. The nearest resistance level is $127-128.

RESISTANCES 124,51 / 131,08 / 142,86
SUPPORTS 87,81 / 94,38 / 106,16

AVALANCHE [AVAX] 316.00 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.12 TRY

Ripple gained an 0,15% value during morning hours, and the current price is $0,8838. When we consider the XRP/USDT pair technically, XRP continues price action inside the downward trend on September 7 and has positive divergence, which gave a buy signal along with the intersection of 7-and-14 DEMA last week. XRP, which also broke the downward trend that existed as of November 10 on the weekend, opened the week with a sharp rise. There is nothing new for XRP. The first major resistance level is $0,9458 (200MA).

RESISTANCES 0,9346 / 0,9642 / 1,0185
SUPPORTS 0,7668 / 0,7964 / 0,8507

RIPPLE [XRP] 8.12 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 961.63 TRY

LTC gained a 0,90% value during morning hours, and the current price is $154,2. When we consider the LTC/USDT pair technically, LTC, which found support at the zone marked with blue, rose towards the uptrend on November 10. When we examine it in the daily chart, we see a buy signal coming from the MACD in the oversold zone. The downtrend breakout should be followed together with the MACD buy signal. For a permanent rise, a breakout in the downtrend and 200MA should occur.

RESISTANCES 158,60 / 162,54 / 169,25
SUPPORTS 137,30 / 141,24 / 147,95

LITECOIN [LTC] 961.63 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 1,10% value during morning hours, and the current price is $19,09. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel as of July 2020, has found support at the lower line in the last few days. MACD gave a buy signal after positive divergence occurred. LINK surged towards the downtrend, after finding support. If a breakout occurs, price movement wins a momentum.

RESISTANCES 19,53 / 19,92 / 20,66
SUPPORTS 17,27 / 17,66 / 18,40

BASIC ATTENTION TOKEN [BAT] 5.43 TRY

BAT gained a 1,95% value during morning hours, and the current price is $1,1328. When we consider the BAT/USDT pair technically, BAT found support at the uptrend as of October 30 and surged last week. However, although it tested the 50MA level many times, a breakout could not occur. As we mentioned in the daily bulletin yesterday, we expected BAT to retest the ascending trend and find support from this level. BAT, which minimized its intraday losses with the support it found yesterday, is rising again towards its 50-day moving average this morning.

RESISTANCES 1,1622 / 1,1967 / 1,2553
SUPPORTS 0,9760 / 1,0105 / 1,0691

BASIC ATTENTION TOKEN [BAT] 5.43 TRY +7.00 +0.03 VOL 21 BAT

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