DAILY CRYPTOCURRENCY NEWS

EU Monitors Crypto Exchanges to Ensure Implementation of Russian Sanctions

The EU is working to ensure that digital assets do not bypass sanctions imposed by the alliance against Russia, French Prime Minister Brune Le Maire said on Wednesday (March 2nd). A twenty-seven-nation alliance imposed strict sanctions on Russia for attacking Ukraine. The sanctions include freezing assets belonging to the Central Bank of Russia and removing seven of Russia's banks from the list of swift financial messaging systems.

Bloomberg: Bitcoin Can Outperform Stocks in 2022

The report, published by the BI analyst team led by chief commodity strategist Mike McGlone, compared market trends in both the stock market and the crypto market. From the cross-examination, it was noted that the two main trends in the Bitcoin market seem to be gaining ground. These are Bitcoin's current fierce competition against the Nasdaq 100 index, while at the same time reducing relative volatility.

Mike McGlone: Russia-Ukraine Conflict Helps Bitcoin Become a Global Digital Collateral

Bloomberg's chief commodity strategist Mike McGlone has long argued that Bitcoin is on its way to becoming a “global digital guarantee”. Increased oil prices caused by the Russia-Ukraine conflict will accelerate the process, he said in a tweet today.

Ethereum Gets Ready for Final Merge Test Network

It’s the final countdown in ethereum Proof of Stake (PoS) development as preparations are undertaken to launch the last public testnet before the merge. “We want the clay testing network to be the last public testing network,” says Parit Hosh, who identifies himself as the Validator Whisperer at the Ethereum Foundation. "If all customer teams are ready next week, we want to start Kiln with full v2 capability."

Cryptocurrency to be Taxed through Tether Partnership in Lugano, Switzerland
The Italian-speaking city of Lugano, the economic capital of southern Switzerland, is adopting cryptocurrencies for tax payments as part of a new collaboration with Tether (USDT) stablecoin provider.

75% of Investors in Emerging Markets Want More Crypto Investments
A recent survey found that 75% of investors in emerging markets in Asia-Pacific and Latin America want to increase their investment rates in cryptocurrency investments.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359541.47 TRY

Bitcoin lost a 2,5% value during morning hours and is priced around $41.366. Bloomberg's chief commodity strategist Mike McGlone has long argued that Bitcoin is on its way to becoming a “global digital guarantee”. Increased oil prices caused by the Russia-Ukraine conflict will accelerate the process, he said in a tweet today.

When we consider the BTC/USDT pair technically, there was a surging Bitcoin yesterday supported by the positive news flow. But then Fed statements shadowed the rise and triggered pullbacks. There is no major change in BTC, which had tested $44.700-45.000 four times and could not break it upwards. It is necessary to find support for the continuity of the trend in BTC, which is priced in the $40,500-41,000 range, which we mentioned in the daily newsletter yesterday. If the 39.000-40.500 support zone is lost downwards, a retracement towards $36.500 might follow.

RESISTANCES 43.354 / 45.277 / 46.403
SUPPORTS 40.305 / 39.179 / 37.256

BITCOIN [BTC] 359541.47 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24630.23 TRY

Ethereum lost a 3,75% value during morning hours and is priced around $2727. It’s the final countdown in ethereum Proof of Stake (PoS) development as preparations are undertaken to launch the last public testnet before the merge. “We want the clay testing network to be the last public testing network,” says Parit Hosh, who identifies himself as the Validator Whisperer at the Ethereum Foundation. "If all customer teams are ready next week, we want to start Kiln with full v2 capability."

When we consider the ETH/USDT pair technically, ETH, which had retreated to $2300, ignited a spike above $3000 with the rapid recovery of BTC. ETH could not sustain above its short-term uptrend as of today, so plunged to $2700. At the same time, ETH broke the 50MA level downwards. It seems to have a short-term rise to the 50MA, but if it does not hold onto it, the fall scenario comes true.

RESISTANCES 2882 / 3031 / 3124
SUPPORTS 2396 / 2545 / 2639

ETHEREUM [ETH] 24630.23 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.63 TRY

AVAX lost a 1,20% value during morning hours and is priced around $77,91. When we consider the AVAX/USDT pair technically, AVAX has faced rejections from the major downtrend and a bearish engulfing candle formed as of the daily close. The fall sustained for AVAX, which closed the day below the 50MA level. AVAX, which retreated to the lower band of the blue zone this morning, has found short-term support. We expect the drop to deepen if we can't go over $80 per day

RESISTANCES 82,45 / 87,56 / 91,33
SUPPORTS 64,69 / 69,80 / 73,57

AVALANCHE [AVAX] 319.63 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.79 TRY

Ripple lost a 1,30% value during morning hours and the current price is $0,7429. When we consider the XRP/USDT pair technically, XRP could hold above the support level at $0,7121 despite the market crash of last week. But it could not break the short-term descending trend. If the level of $0.7920 is broken to upside, the level of $0.9587 (200MA) can be targeted.

RESISTANCES 0,7694 / 0,7983 / 0,8205
SUPPORTS 0,6672 / 0,6961 / 0,7183

RIPPLE [XRP] 8.79 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 990.30 TRY

LTC lost a 4,50% value during morning hours and is priced around $106,96. When we consider the LTC/USDT pair technically, with the positive trend throughout the market, LTC, which had broken the resistances at both $104.9 and $ 113.1 upwards, broke them again downwards after the Fed statements. At the same time, the price movement is still below the major descending trend. If the $121 level, which corresponds to the descending trend and its 50MA, is broken to upside, there may be a rise towards the $145 level. When retreating, the short-term support level is $104.9.

RESISTANCES 111,71 / 116,36 / 119,71
SUPPORTS 95,71 / 100,36 / 103,71

LITECOIN [LTC] 990.30 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 4,20% value during morning hours and is priced around $14.28. When we consider the LINK/USDT pair technically, LINK has price action inside the horizontal channel as of May 26 and ignited a spike with the positive divergence RSI in the daily chart. So LINK broke the descending trend, testing four times before. But it faced rejection from the short-term resistance level marked in red, having price action towards the lower line. If the retracement continues throughout the market, the reversal signals to be received close to the channel lower line should be monitored.

RESISTANCES 15,01 / 15,74 / 16,15
SUPPORTS 12,72 / 13,45 / 13,87

BASIC ATTENTION TOKEN [BAT] 5.65 TRY

BAT lost a 4,40% value during morning hours, and is priced around $0,68. When we consider the BAT/USDT pair technically, BAT continues price action below the downtrend on November 28. BAT retested the trend this morning. Facing rejection from this zone, BAT continues its price movement towards the support zone marked in blue. As long as this zone is not lost downward in the daily chart, we do not expect a major plunge.

RESISTANCES 0,7182 / 0,7554 / 0,7771
SUPPORTS 0,6004 / 0,6376 / 0,6593

BASIC ATTENTION TOKEN [BAT] 5.65 TRY +7.00 +0.03 VOL 21 BAT

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