DAILY CRYPTOCURRENCY NEWS

Google Begins Republishing Crypto Ads

Google began running crypto ads again after its updated financial products and services policy took full effect on August 3rd.

Gary Gensler: Clear Regulations Are Needed for General Crypto Adoption
Gary Gensler of the United States Securities and Exchange Commission (SEC) said in an august 3, 2021 interview that appropriate investor protection and net regulations are some of the key catalysts needed for crypto adoption.
 

Cryptocurrency Funds Are In Decline This Week

According to a weekly report by CoinShares, there is a net outflow of $19.5 million from cryptocurrency funds. Some altcoin funds, such as XRP and DOT, were found to have inflows of money.

Spain Considers Allowing Mortgage Payments with Cryptocurrency
According to 20 Minutos, lawmakers in the country are considering submitting a motion making it possible to pay mortgages with cryptocurrency. This Digital Transformation Act will also include a number of other measures to legitimize crypto, blockchain and artificial intelligence technologies.
 

 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 354902.88 TRY

Bitcoin, which lost about 1 percent in the morning, is priced at $37,800. When we examine the chain data for Bitcoin, when we look at the bitcoin offerings held by short-term and long-term Bitcoin investors, the amount held by short-term investors peaked at $60,000, while they sold at a loss and their supply decreased significantly. On the long-term investor side, it's the opposite. These investors, who have reduced their holdings at their peak levels, have bought almost the same amount of Bitcoin with the fall again. We can say that the outlook is positive given the position taken by long-term investors.

When we consider BTC/USDT parity in technical terms, the correction that brought the whole market with it was recently started with the downward break of the current rising trend as of July 21st. Bitcoin is priced below this level, having fallen to $38,342, which we expect to find initial support. Our next major support level is $36,413, which equates to Fibo'50 tranches of $35,953.
 

RESISTANCES 38.774 / 39.378 / 39.935
SUPPORTS 37.613 / 37.056 / 36.452

BITCOIN [BTC] 354902.88 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24671.16 TRY

Ethereum, which lost about 0.6 percent in the morning, is priced at $2495. According to CoinShares' weekly crypto fund report, the outflow from Ethereum funds was limited to $9.5 million. When we examine the chain data, the fact that there is an increase in large investor addresses indicates that the direction of the medium-term trend is upward. Considering that the London Hard Fork update will also be priced positively, the outlook for ETH is positive.

When we consider the ETH/USDT pair in a technical sense, it is priced just below the rising trend that exists as of July 22nd. Fibonacci, which has retreated from a July 20 low of $1706 to an August 1 peak of $2697, continues to sell MACD in a four-hour period at ETH, which has held at $2463, which is a tranche of $23.60. If there is a four-hour close below the $2463 level, the level we expect to find the next support is $2318.8.
 

RESISTANCES 2553 / 2593 / 2646
SUPPORTS 2366 / 2406 / 2459

ETHEREUM [ETH] 24671.16 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.61 TRY

AVAX, which dominates the horizontal price movement in the morning, is priced at $12.53. When we examined the AVAX/USDT pair technically, the rising minor trend as of July 22 was rejected at $12.34. When we examine AVAX, which appears to be supported by the trend in the morning, we see that the sell signal continues on MACD in the 4-hour period, but there is a slowdown in the price movement in the direction of sales. Unless there is a four-hour close below the trend, there may be rises again towards $13 and $14.

RESISTANCES 12,91 / 13,14 / 13,43
SUPPORTS 11,87 / 12,10 / 12,39

AVALANCHE [AVAX] 319.61 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.24 TRY

Ripple, which dominates the horizontal price movement in the morning, is priced at $0.713. Looking at yesterday's newsfeed in the case with the SEC, it was claimed that Garlinghouse, who was allegedly in violation of securities law by the SEC, made the majority of the XRP sales that were the subject of this breach on overseas platforms and therefore could not be subject to this law. In this regard, ripple's CEO has applied to the Southern Court of New York to obtain the relevant documents from the foreign-based exchange, and these documents are said to be supportive of the allegations.

When we examine the XRP/USDT pair technically, XRP, which yesterday cut its emerging minor trend from $0.72 as of July 21, also started to be priced below Fibo'23.60. When we examined it in a 4-hour period, it intersected in the stockatic oversold zone for XRP, which has been dominating horizontal price movement for the last week. However, for XRP, which has also seen price rebounds, the Fibo's level of $0.7159, which corresponds to the 23.60 tranche, breaks upwards and if persistence can be achieved, it could rise towards the August 1 peak level of $0.777. In the continuation of the withdrawals, the level of 0.66 dollars, which corresponds to the MA 50 level, is read as the major support level.

RESISTANCES 0,7261 / 0,7364 / 0,7492
SUPPORTS 0,6799 / 0,6902 / 0,7030

RIPPLE [XRP] 8.24 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 979.99 TRY

Litecoin, which lost about 0.7 percent in the morning, is priced at $137.4. When we consider the LTC/USDT pair technically, LTC, which recently reacted to the resistance level at $149, could not hold above Fibo'23.60 tranche of $143.71. LTC, which tested the Fibo'23.60 tranche again today, was unable to break that level upwards at $143.71. Although MACD continued to signal the buy during the daily period, the momentum towards the rise was lost. For LTC, we expect the $134.7 level with a 50-day moving average to work as support for withdrawals.

RESISTANCES 140,98 / 142,79 / 145,36
SUPPORTS 132,22 / 134,03 / 136,60

LITECOIN [LTC] 979.99 TRY +7.00 +0.03 VOL 21 LTC

LINK, which lost about 1.91 percent in the morning, is priced at $23.49. LINK, which has managed to diverge positively according to the market, has gained about 35 percent against Bitcoin in the past 6 days. As of July 21st, the price movement continues within the existing rising channel. LINK, which was hit by the $24.25 level that coincided with the channel mid-band yesterday, started to show downward price movement with the opening of the day. We think it will continue to move prices within the rising channel unless there is a daily close below the $23 level that corresponds to the channel sub-band for LINK.

RESISTANCES 24,88 / 25,88 / 27,34
SUPPORTS 19,95 / 20,96 / 22,42

BASIC ATTENTION TOKEN [BAT] 5.55 TRY

BAT, which dominates the horizontal price movement in the morning, is priced at $0.638. When we consider BAT/USDT parity in technical terms, BAT, which broke the upper band of the existing horizontal channel as of June 18 and the rising minor trend as of July 20th yesterday, rejected the rising trend and the channel upper band from below this morning. If the intraday price movement comes in a four-hour close above the $0.642 level, we can say that the correction movement for BAT is over. Otherwise, we expect the retreat towards $0.60 to continue.
 

RESISTANCES 0,6548 / 0,6645 / 0,6820
SUPPORTS 0,6004 / 0,6101 / 0,6276

BASIC ATTENTION TOKEN [BAT] 5.55 TRY +7.00 +0.03 VOL 21 BAT

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