DAILY CRYPTOCURRENCY NEWS

India to Regulate Crypto, Not Ban: Cabinet Documents

According to a local outlet, the Indian government will not wholly ban cryptocurrency and instead regulate the sector.

Majority of Shiba Inu (SHIB) Holders Remain In Profit Despite the Downtrend

Data from IntoTheBlock shows that most of those invested in the dog-themed coin is still in profit. A good number of Shiba Inu holders had been invested in the project before it had begun its bull run. Therefore, most investors are profitable in their investments.

The Payment Company Square Changes Brand Name To "Block Inc."

Two days later, after Jack Dorsey's resignation announcement on Monday, Dorsey's payment company, Square Inc., declared that the brand name was changed to Block Inc. with its dynamics. The company announced the Block name has 'many relations,' including 'blockchain.'

SEC Rejects WisdomTree's Spot Bitcoin ETF Application

The United States Securities and Exchange Commission, or SEC, has not officially approved asset manager WisdomTree's spot Bitcoin (BTC) exchange-traded fund (ETF) after postponing a decision several times this year.

Healthcare Services Firm Adds Nearly $1.5 Million Worth of $SHIB to the Balance Sheet

A Canadian healthcare service firm called Ask The Doctor has added nearly $1.5 million worth of Shiba Inu ($SHIB). Ask The Doctor clarified it will be adding Shiba Inu payments due to “the high number of requests” from the SHIBArmy.

Goldman Sachs and Other Wall Street Banks Are Exploring Bitcoin-Backed Loans

CoinDesk reports that Goldman Sachs and several other Wall Street banks are exploring ways to issue corporate cash loans with Bitcoin as collateral. The report cited three people familiar with the plans of a group of world-class US banking institutions interested in the activity.

New Study Says Ethereum May Become a Better Inflation Hedge Over Bitcoin

Ethereum is the second-largest cryptocurrency by market capitalization and outperformed Bitcoin yearly. The digital asset does not yet command the respect that bitcoin does, but a new study shows that this will soon change. According to the findings, Ethereum may outperform Bitcoin as a better inflation hedge.


 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 353243.99 TRY

Bitcoin gained a 0,22% value during morning hours; the current price is $56.597. CoinDesk reports that Goldman Sachs and several other Wall Street banks are exploring ways to issue corporate cash loans with Bitcoin as collateral. The report cited three people familiar with the plans of a group of world-class US banking institutions interested in the activity.

When we consider the BTC/USDT pair technically, Bitcoin, which continues to move within the ascending channel that exists as of July 20, has a sideways trend below the resistance levels of 58.400-60.000. There has been no change for the last few days. But we can say the stagnation is diminishing. A stop can be set when the daily close occurs below the lower line. If a downtrend breakout occurs, a rise towards the midrange band can start.

RESISTANCES 57.252 / 57.898 / 58.497
SUPPORTS 56.007 / 55.408 / 54.762

BITCOIN [BTC] 353243.99 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24593.68 TRY

Ethereum gained a 0,30% value during morning hours, and the current price is $4518. Ethereum is the second-largest cryptocurrency by market capitalization and outperformed Bitcoin yearly. The digital asset does not yet command the respect that bitcoin does, but a new study shows that this will soon change. According to the findings, Ethereum may outperform Bitcoin as a better inflation hedge.

When we consider the ETH/USDT pair technically, ETH retested the downtrend as of November 10 this morning, we mentioned yesterday's daily bulletin. ETH did not lose the trend and surged after finding support. We expect the uptrend to continue in the short term if there is persistence above the downtrend, even if the rise now stays limited.

RESISTANCES 4635 / 4735 / 4832
SUPPORTS 4240 / 4340 / 4437

ETHEREUM [ETH] 24593.68 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.89 TRY

AVAX lost a 0,70% value during morning hours, and the current price is $106,47. When we consider the AVAX/USDT pair technically, AVAX has been continuing its price movement within the ascending channel since August. AVAX will unlock on December 4, 03:00 AM. AVAX early investors' tokens will unlock. So, they might prefer to have a profit realization. Considering this risk on AVAX, it can be expected that the retracements will continue a little longer.

RESISTANCES 115,68 / 124,55 / 129,96
SUPPORTS 87,12 / 95,99 / 101,40

AVALANCHE [AVAX] 319.89 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.31 TRY

Ripple lost a 0,20% value during morning hours, and the current price is $0,9687. When we consider the XRP/USDT pair technically, XRP, which retested the 200MA, closed the day above. XRP should hold onto the $200MA level ($0,9642), but there is yet no breakout of the downtrend. XRP tried to break the downtrend on November 10, then failed and faced a reaction. XRP need to follow the breakout for a solid rise.

RESISTANCES 0,9846 / 0,9985 / 1,0119
SUPPORTS 0,9300 / 0,9439 / 0,9573

RIPPLE [XRP] 8.31 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 974.74 TRY

LTC lost a 1,00% value during morning hours; the current price is $201,3. When we consider the LTC/USDT pair technically, Bitcoin continues to move within the ascending channel that exists as of July 21. LTC had a reaction from the 50MA level for the last few days and faced resistance yesterday, then retested the downtrend. There is no reversal signal for LTC in the daily chart, but we should follow the 50MA level and lower line channel.

RESISTANCES 206,92 / 212,26 / 217,43
SUPPORTS 185,90 / 191,24 / 196,41

LITECOIN [LTC] 974.74 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 0,50% value during morning hours, and the current price is $24,63. When we consider the LINK/USDT pair technically, LINK, which continues price action inside ascending channel as of August 26, has a similar price movement with LTC. LINK is priced between the $25,38 level (200MA) and the lower line. There is no reversal signal for LINK in the daily chart; MACD reaches the bottom line of the oversold zone. We expect the price movement to start in the upward direction with the buy signal from here and the upward breakout of the 200-day moving average.

RESISTANCES 25,09 / 25,54 / 25,99
SUPPORTS 23,29 / 23,74 / 24,19

BASIC ATTENTION TOKEN [BAT] 5.52 TRY

BAT lost 2,80% value during morning hours, and the current price is $1,3798. When we consider BAT/USDT parity in a technical sense, there is no reversal signal in the daily chart of BAT, which has lost about 50 percent of the last rise after the peak level. Although we expect the Web 3.0 trend to continue, there will be a sideways trend caused by sharp price movements of the BAT. Since there is no formation and reversal signal in the technical sense yet, the zone marked with blue should be followed on the chart. If it breaks the zone, it can retreat to $1,25-1,27.

RESISTANCES 1,4313 / 1,4828 / 1,5208
SUPPORTS 1,2523 / 1,3038 / 1,3418

BASIC ATTENTION TOKEN [BAT] 5.52 TRY +7.00 +0.03 VOL 21 BAT

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.