DAILY CRYPTOCURRENCY NEWS

Fed Report Shows That Crypto Is Preferred To Be Used As An Investment Vehicle

According to the annual report published by the Fed, American citizens consider crypto assets more as investment tools. The report, which was created under the name of Home Economics and Decision-Making Survey, was the first report to contain information about crypto assets. In addition, according to the report, 12% of the respondents have stored or used cryptocurrency.
 

GameStop Announces Wallet That Can Be Used For Cryptocurrencies And NFTs

GameStop on Monday announced The GameStop Wallet, which can be used to store NFT and crypto assets. He announced that the beta version of the wallet is available as a Chrome extension. This was the most important reason for Monday's big rise of Loopring (LRC), which is in collaboration with GameStop.

Balenciaga Accepts Payments with BTC and ETH!

In recent days, some luxury clothing and accessory brands have announced that they accept payments with cryptocurrency. The last brand to join this chain was Balenciaga.

Shiba's Rise on Sunday

According to a SHIB burn tracking account, 22 billion "canine tokens" were removed from circulation last week. Also on Sunday, more than half a billion Shiba burns took place in a 24-hour period. This was the main reason for Shiba's increase of up to 9% on Sunday.

Abdi İbrahim's Metaverse Initiative
The Turkish pharmaceutical company Abdi İbrahim carried out a building project in Decentraland. It was announced that NFT collections were exhibited in the created building. The "The Journey of Healing" collection will be exhibited in the building for the first time.
 

SHIB to be Accepted in Restaurants in 65 Countries!

Thanks to the agreement announced by Lavu with Verifone, SHIB will be accepted as a payment method in restaurants of 65 different countries. Lavu provides payment support to restaurants, while Verifone works on electronic payment methods. This collaboration will play an important role in increasing the use of SHIB.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359555.07 TRY

After 8 weeks of sell-off in BTC, 9. Although the week started with reaction purchases, we observed that the day closed under selling pressure. While global recession concerns continue, the downward revision of growth expectations accelerates the escape from risky assets. Although the reaction purchases in the pair, which closed the last day below the $30,000 level, remained weak, institutional interest continues. In particular, some luxury clothing and accessory brands continue to accept payments with crypto coins. However, recession concerns and rising bond yields are causing investors to continue the transition from risky assets to safe assets.

Today, we see that Bitcoin, which has gained 0.95% as of the morning hours, is priced at $29,390. The critical support for BTC/USDT appears to be the 28,600 level. This level is the lower band of the 50-week rectangular formation. As can be seen on the chart, it is very important that this level is not lost in the weekly candles. When we look at the 4-hour chart, a stuck rectangular formation stands out. The recovery of risk appetite on the global side will trigger an upward break in this pattern. 

RESISTANCES 30.387 / 31.380 / 32.123
SUPPORTS 28.651 / 27.908 / 26.915

BITCOIN [BTC] 359555.07 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24646.39 TRY

In ETH, where we see that the selling pressure continues in parallel with BTC, we see that the effort to hold above $2000 for a while weakened yesterday evening and the repricing fell below the $2000 level. The fact that confidence in crypto assets is questioned with the increasing recession concerns as a result of the tightening moves of central banks is the main reason for the weak purchases.

Today, we see that the ETH/USDT pair, which has gained 0.76% as of the morning hours, is priced at 1988 USD. Technically, we can say that it has found support from the lower band of the 50-week rectangular formation, the 1750-1800 levels. The upward break of the symmetrical triangle pattern seen on the 4-hour chart is followed by a pullback. With the increase in risk appetite on the global side, this withdrawal can be considered as a buying opportunity.
 

RESISTANCES 2060 / 2138 / 2188
SUPPORTS 1803 / 1881 / 1932

ETHEREUM [ETH] 24646.39 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.04 TRY

In AVAX, where we see that the purchases remain weak despite the reaction purchases to the bottom search in risky assets after the seller start on the first day of the week, we see that the pricing is below the $30 level again as of the morning hours. Fed-led monetary tightening and recession concerns in global markets lead to an increase in bond yields and support the escape from risky assets.  

AVAX, which gained 1.14% as of the morning hours, is priced at $29.42. When we look at the 4-hour chart, there is a rectangular formation at the bottom after the decline. If the $32 level, which is the resistance of the formation, breaks, the next target seems to be around $35.

RESISTANCES 32,12 / 34,87 / 36,66
SUPPORTS 23,04 / 25,79 / 27,58

AVALANCHE [AVAX] 319.04 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.71 TRY

XRP, which gained 1.8% as of the morning hours, is priced at $0.4124. When we examine the XRP/USDT pair in technical terms, we see that the rising trend level starting from March 15, 2020 has been tested. We can say that the 0.42 USD levels shown by this upward trend are maintained on the weekly chart, so the major upward trend is still continuing. When we look at the 4-hour chart, the symmetrical triangle formation stands out. The recovery of risk appetite on the global side will trigger an upward break in this pattern.
 

RESISTANCES 0,4260 / 0,4422 / 0,4546
SUPPORTS 0,3688 / 0,3850 / 0,3974

RIPPLE [XRP] 8.71 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 988.45 TRY

LTC is priced at $69.7, up 0.87% as of the morning hours. After the decline, we will be following the ascending triangle pattern at the bottom.
 

RESISTANCES 72,98 / 76,18 / 78,38
SUPPORTS 62,18 / 65,38 / 67,58

LITECOIN [LTC] 988.45 TRY +7.00 +0.03 VOL 21 LTC

LINK, which gained 1.28% as of the morning hours, is priced at $7.12. When we examine the LINK/USDT pair from a technical point of view, there is a return from the rising channel bottom seen on the 1-hour chart, a move towards the mid-channel level of 7.35 can be expected.

RESISTANCES 07,47 / 07,87 / 08,11
SUPPORTS 06,20 / 06,60 / 06,83

BASIC ATTENTION TOKEN [BAT] 5.63 TRY

BAT is priced at $0.3959, up 2.7% as of morning hours. As seen on the weekly chart, the 0.3970 level is an important pivot point, and we will be watching whether this point can be held. There is a reversal from the ascending channel bottom seen on the 1-hour chart, a move towards the mid-channel 0.4 levels can be expected.

RESISTANCES 0,4190 / 0,4448 / 0,4647
SUPPORTS 0,3276 / 0,3534 / 0,3733

BASIC ATTENTION TOKEN [BAT] 5.63 TRY +7.00 +0.03 VOL 21 BAT

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