DAILY CRYPTOCURRENCY NEWS

Huge Increase in Bitcoin Mining Revenue

Daily miners' revenues have risen to over $20 million after 15% growth in the last 7 days. With this increase, mining companies, which faced the danger of bankruptcy in the period when it fell below $ 18 million, began to breathe a sigh of relief.

Stablecoin Regulation to be Implemented in the US Postponed to September

The law, which includes stablecoin regulations, which has been constantly discussed in America in recent weeks, has been postponed to September. According to reports, failure to complete the draft on time for this Wednesday's meeting will cause the draft law to be postponed for a while. Some of the issues that could not be resolved in the bill were cited as the Treasury Department's provisions on custodial wallets and the SEC's concerns about the market.

Vitalik Buterin Made Remarks at Ethereum Community Conference

Speaking at the ETH Community Conference held in Paris from July 19-21, Vitalik Buterin shared his roadmap for Ethereum. Buterin stated in his statement that only 55% of the ETH protocol will be completed after merge; He stated that Ethereum will also be subject to Surge, Verge, Purge, Spurge upgrades. He said that they plan to eventually switch Ethereum to a speed of 100,000 transactions per second, and that is their main goal.

Very Important Crypto Asset Statement from Ukrainian Minister

Alex Bornyakov, Deputy Minister of Digital Transformation in Ukraine, which has been at war and under occupation with Russia since the beginning of the year, stated that crypto assets are used as a very important tool in the defense of Ukraine with their transaction speed and flexibility despite being in the bear market during the war period. It is known that crypto assets are used in many places to support and donate to the Ukrainian army.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 351090.69 TRY

Bitcoin, which has shown a strong pricing recently, has managed to stay above $ 20,000 for the last 1.5 weeks. Last week's Tesla news, then the abstention and recession speeches created by the interest rate decision came to the agenda again, and the outflow of money from all markets created a little selling pressure in Bitcoin. As interest rate decisions, the expectation is for a 75 bp increase, but the Fed, which has still not been able to control inflation, is said to be able to increase it by 100 bp with a more aggressive intervention. In such a case, we will see bigger and more aggressive movements in the market.

Bitcoin is pricing in at $21,171 today, down 0.4% in the morning. Bitcoin, where the volume has fallen well before the interest rate decision, continues its channel movement. BTC, which managed to break the downward trend after making 3 peaks, then went below the trend and made a triangle pattern that descended with the channel middle band. It is currently working to break the downward trend that it broke down 2 days ago, which is a resistance zone, to the downside.

RESISTANCES 21.461 / 21.650 / 22.014
SUPPORTS 20.908 / 20.544 / 20.355

BITCOIN [BTC] 351090.69 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24528.15 TRY

Today, ETH, which lost 0.2% of its value in the morning hours, is priced at $ 1447. Ethereum reverted from the $1280-$1350 levels, which can be considered as a demand zone, after the peak level of $1650. Of course, the impact of the US markets, which have been on the decline all day and recovered at the close of the market, is also quite high. Ethereum, which is currently moving towards the resistance zone at the 1490 level, may return to 1350 levels again in the volatility that will occur before the interest rate decision, although there is a positive atmosphere in the market. If the market remains positive, their priority target seems to be the level of $ 1550 after 1490.

RESISTANCES 1491 / 1525 / 1592
SUPPORTS 1289 / 1323 / 1390

ETHEREUM [ETH] 24528.15 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 317.00 TRY

AVAX, which has gained 0.8% as of the morning hours, is priced at $ 20.88. Although AVAX has broken the critical 20.0 level for 2 days, we see that it has thrown itself above the channel after touching the 50-day moving average and closed at those levels. Although AVAX's failure to return to the channel and support from the 50-day moving average seems quite valuable, the fact that it is very bearish and gives a weak image makes investors uneasy in such days when volatility is expected to be high.

RESISTANCES 21,68 / 22,23 / 23,30
SUPPORTS 18,44 / 18,99 / 20,06

AVALANCHE [AVAX] 317.00 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.23 TRY

XRP, which lost 0.3% of its value in the morning, is priced at $ 0.3363. While Ripple continues its channel movement, its decline seems to have ended with the support it received from the channel mid-band. When we look at the hourly chart, although it tried to break down for a while, it could not break the channel middle band of 0.3250-0.33 and then reached the current price level of $ 0.337. We can say that XRP's 50-hour moving average works like a resistance and is currently at exactly those levels and may see a resistance from there.

RESISTANCES 0,3419 / 0,3468 / 0,3547
SUPPORTS 0,3163 / 0,3212 / 0,3291

RIPPLE [XRP] 8.23 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 972.04 TRY

LTC is trading at $53.74, down 0.20% as of morning hours. LTC, which we saw a channel movement on its daily chart, broke down after making double-sided breakout attempts between the channel upper band and the middle band, and is currently continuing to decline towards the channel lower band and the very critical $49.80 levels. It is a matter of curiosity how long the pricing will continue in LTC, where confidence and purchasing power have fallen considerably. 

RESISTANCES 54,27 / 54,90 / 56,04
SUPPORTS 50,73 / 51,36 / 52,50

LITECOIN [LTC] 972.04 TRY +7.00 +0.03 VOL 21 LTC

LINK is down 0.3% at $6,322 today. We see that LINK continues its channel movement in the daily. We see a significant 20% drop at the top. This decline dragged LINK to the channel lower band and even fell to 5,914 levels, which is almost the channel lower band when the sale took place last night. We can say that the channel lower band at 5,914 is quite strong and that the breakdown has never happened yet and can be considered as an opportunity in case of a fall to those levels.

RESISTANCES 06,44 / 06,55 / 06,72
SUPPORTS 05,86 / 05,97 / 06,15

BASIC ATTENTION TOKEN [BAT] 5.54 TRY

BAT is trading at $0.3676, up 0.27% as of morning hours. BAT continued to price quite poorly. Although the channel it came from tried to break the lower band and even remained below the band, it then rose and reached the resistance point of the falling trend it was in. Despite repeated testing of that resistance, it has not been broken for 1 week, but if the breakdown occurs, the channel can start an upward movement towards the middle band of 0.398 levels.

RESISTANCES 0,3750 / 0,3818 / 0,3947
SUPPORTS 0,3356 / 0,3424 / 0,3553

BASIC ATTENTION TOKEN [BAT] 5.54 TRY +7.00 +0.03 VOL 21 BAT

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