DAILY CRYPTOCURRENCY NEWS

Increasing Interest in Litecoin

Litecoin futures open interest reached $ 585 million, revealing that institutional investors like Grayscale and Bitwise are interested in Litecoin. Although futures contracts cannot be definitely interpreted positively, increased interest may result in larger investments.

DeFi Article Published at Fed Branch

A branch of the US Federal Reserve, St. An article about DeFi and blockchain, the decentralized financial industry, was published on the Louis Federal Reserve's website. The article stated that although the DeFi sector still carries certain risks, it has a sound and transparent financial infrastructure.

France Calls for Regulation

Robert Ophèle, president of AMF, France's financial regulatory body, proposed an approach to cryptocurrency regulation to stimulate the growth and development of innovative projects.

US Former OCC President Think Ripple Can Set Up SEC

Brian Brooks, former head of the U.S. Money Control Office (OCC), said he believes positive regulations will be imposed on cryptocurrencies and that the parties will agree to the case between the SEC and Ripple. As for whether XRP will be declared a security, he declined to answer.

Can Apple Buy Bitcoin?

Tesla announced that he bought $ 1.5 billion worth of Bitcoin the other day. Some names in the industry think that the next company will be Apple. The $ 2.2 trillion Apple company has $ 200 billion in cash assets, which means it can buy 25% of the Bitcoins in circulation.

Miami Municipality Holds Meeting for BTC Purchases

Miami Mayor Francis Suarez, known for his positive attitude to Bitcoin, announced on February 11 that he will hold a meeting to add Bitcoin to the Miami City balance sheet. In the announcement, it was stated that Elon Musk's BTC purchase helped a lot to organize this meeting.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 354236.68 TRY

Bitcoin is pricing around $46.270. After Tesla’s bitcoin buying announcement Bitcoin prices surging to $49.000. Bitcoin market cap hit $865B and this record number is about 56 percent of silver’s market cap. According to on chain analysis miner’s revenue are increasing and this will be hurt price acceleration. On the other side receving address number hit 19 month high. This metric supports Bitcoin’s positive trend.

on technical point the last correction ended $29.000 and therefore fibonacci retracement between %141,4-161,8 is around 45.480 and 47.310$. Pricings are between these points now going around this horizontal channel. bitcoin seems now on horizontal but positive. 

 

RESISTANCES 48.621 / 50.711 / 52.471
SUPPORTS 44.771 / 43.011 / 40.921

BITCOIN [BTC] 354236.68 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24672.78 TRY

Ethereum is maintaining record levels, and as it does not experience a significant retracement, each rise sets a new record. Ethereum, which was traded at $ 1815, up 2.2% this morning, started to turn in favor of the BTC-ETH clipper again. While Bitcoin dominance was at 64% yesterday, it fell behind 62% this morning. St. Louis Fed's research paper ERC-20 and ERC-721 made a tribute to the financial infrastructure. Today, we see DeFi tokens rising and the ETH-BTC clipper returning from support.

When we consider ETH / USD technically, after the last rising triangle break, ETH continues to rise with support at the $ 1760 level, 15% behind the $ 2050 target. According to the Fibonacci corrections, the $ 1836 and $ 1945 levels are resistances. Miner fees should also be taken into account in pricing in these regions. However, it can slow down movements to some extent as it cannot break the trend. Technically, the outlook is positive and on an uptrend.

RESISTANCES 1847 / 1888 / 1951
SUPPORTS 1743 / 1679 / 1639

ETHEREUM [ETH] 24672.78 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 320.14 TRY

AVAX is listing this morning on the $42.80 price level with 37 percent increasing. Mining pricing keeps hitting the new ATH and it gets harder to make a transaction on the ETH network. And for the other coins which have a better technology than the ETH but can do the same thing with ETH, is getting attention. AVAX is the one of them for the investors. So we can definitely say that AVAX is still has a powerful potential and has long way to go. Investors better follow the new projects with the other companies and coins for AVAX. The market is pricing this improvement with high prices. 

On the technical analysis part, pricing level has a fast increasing moves and parity left behind all the resistance levels on the way. The volume of parity is increasing too but MACD signals that it's getting slower. $41,50 and $39,00 support levels can be points that parity could start increasing again with the low prices. Indicators are in good positions for AVAX. 

RESISTANCES 50,4510 / 56,6987 / 68,1857
SUPPORTS 32,7163 / 21,2293 / 14,9816

AVALANCHE [AVAX] 320.14 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.26 TRY

XRP/USD parity is about on the $0,5360 level and this morning XRP got 12% price increase. That way XRP is keeping up with the market and the market is positive about the case with SEC in these days. The Former USA OCC present made an announcement about the case and he said that XRP and SEC can reach an agreement. So it supported the positive thoughts. 

As a technical analysis for XRP/USD parity, $0,4130 support level worked well and XRP tested $0,5000 and now pricing above it. Demand for XRP is getting higher with the prices and the first resistance is on the $0,5800. Possible decreasing moves can get the $0,5000 support level next. Stability above this level can support the positive moves for XRP. MACD has increasing histograms and it shows that appetite for purchase is increasing as well. Parabolic SAR is on the positive way also. 

RESISTANCES 0,4771 / 0,4989 / 0,5354
SUPPORTS 0,4188 / 0,3823 / 0,3605

RIPPLE [XRP] 8.26 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 975.19 TRY

Litecoin is pricing at $ 191.50, up 5.5% this morning, and has seen the highest pricing since April 2018, when it tested the $ 194.5 level. However, it still has the potential to increase by over 120% towards its record level of $ 420.00. Recently, Litecoin investments, especially Grayscale (Grayscale purchased 180,000 LTC in the last month), both increased corporate interest and supported the growth with the growing volume under the leadership of institutions. Litecoin futures volume reached $ 585M, it is not a positive indicator as both buyers and sellers are included in this calculation, but the increase in futures and interest rates indicates an increase in demand by institutional and individual investors in the direction of Litecoin.

When the LTC / USD parity is analyzed technically, it is seen on the weekly chart that the double bottom formation target created on a larger scale is around $ 270. These non-astronomical levels may be in question as long as they stay above the $ 183.00 support. The pair is in an upward movement and the next resistance level is at $ 205, followed by a key resistance of $ 215. In possible pullbacks, the $ 183 support level will be the closest support to the pair. The trading volume and MACD indicator confirms Litecoin's last 3-day bullish move by volume.

RESISTANCES 201,62 / 212,34 / 231,02
SUPPORTS 172,22 / 153,54 / 142,82

LITECOIN [LTC] 975.19 TRY +7.00 +0.03 VOL 21 LTC

The LINK / USD pair is priced horizontally at $ 27.70 this morning. In the last 24 hours, there was an increase close to 15%. After the rapid increase in Bitcoin's response after the Tesla news, the altcoin and DeFi sector started to move again, as the altcoin and DeFi sector started to move again, and the BTC dominance again fell below 62%. Thus, a new record was recorded for LINK, with a level of $ 28.25. However, LINK remained at 11% on the basis of weekly returns. The consolidation period, which we mentioned in our previous bulletins, also brought the increases with horizontal changes. But for the next period, we can witness the strong increases of the biggest DeFi token, LINK. The article published on a website affiliated with the Federal Reserve on the recovery power of the DeFi sector against the financial system is a step towards the adoption and acceptance of decentralized finance by governments and central banks.

When the LINK / USD parity is considered technically, for the last few days, it has been observed that the lower band of the channel is $ 25.00 and slow movements are observed. With the upside reaction coming from the $ 25.45 support level, the $ 27.00 resistance was also surpassed and this level became the closest support level. In the continuation of the uptrend, the mid-channel level of $ 30.00 will be on the agenda for LINK. In the 4-hour period, the MACD indicator confirms the rise with rising volume histograms and expiry lines.

RESISTANCES 28,84 / 30,06 / 31,97
SUPPORTS 25,71 / 23,80 / 22,58

BASIC ATTENTION TOKEN [BAT] 5.54 TRY

Basic Attention Token got 15 percent price increasing in last 24 hours period. So it left behind the $0,4330 price target and keeps going higher. Now the parity is pricing around $0,4540. In pandemic time BAT is one of the altcoins that came forward with the project of itself. BAT is serving for the online marketing platform and it has its own browser which has 8,6 million active users per day.

As a technical analysis BAT/USD parity’s first resistance would be the $0,5100 while the increasing keeps on. The higher point of pricings has an high trading volume too. But for the 4 hours period acceleration is going low with the volume of parity. In addition MACD histograms’ top level is making lower points so it shows that the power of increasing is loosing. Indicators symbolize the calmness for the short timing. So any possible negative moves should make us fallow the support level on $0,4330.

RESISTANCES 0,4771 / 0,4989 / 0,5354
SUPPORTS 0,4188 / 0,3823 / 0,3605

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

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