DAILY CRYPTOCURRENCY NEWS

Institutions Likely to Invest More in Bitcoin and Crypto Companies in 2022

While talking to Joe Kernen, head of market insights at Genesis Global Trading, Noelle Acheson shared her prediction for institutional investments into the crypto industry in the upcoming year of 2022. "There are strong signs of accelerating institutional investments in 2022," added she.


Decentralized Finance Will Not Substitute Traditional Financial System

Decentralized finance (DeFi) will continue to complement it in 2022, rather than substituting the traditional financial system, says a report by financial information and analytics provider S&P Global. According to the firm’s Global Credit Outlook for 2022, the traditional finance sector will need to innovate and invest to remain relevant in the coming twelve months.  

80% of Ethereum Holders Remain in Profit Despite Fall Below $4,000

Ethereum has once again fallen below $4,000. After hitting an all-time high in early November, it has been dropping in price. Many Ethereum holders have continued to be in profit as sell-offs continue across the market.

German Telecom Giant Supports Polkadot

T-Systems MMS, a subsidiary of German telecom giant Deutsche Telekom, participates with its infrastructure in securing and maintaining the Polkadot network. As part of the partnership, T-Systems MMS acquires DOT tokens.

Ethereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed
With three days left until the end of 2021, the Ethereum network and its native token Ether have had a phenomenal year as Ether has increased more than 450% in value in 12 months. On August 5, the Ethereum network applied the London hard fork, and since that day, 1,283,226 Ether worth about $5 billion has been burned.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 350645.60 TRY

Bitcoin gained a 0,85% value during morning hours; the current price is $47.901. When we consider the BTC/USDT pair technically, BTC broke the major downtrend corresponding to its peak level of $69,000 last week. And it has started to be priced below the downtrend after the sharp price movement yesterday. BTC retreated close to the uptrend on August 3. The pullbacks may continue if it closes the day below $47.000 (key support level).

RESISTANCES 49.075 / 50.350 / 51.237
SUPPORTS 46.913 / 46.026 / 44.751

BITCOIN [BTC] 350645.60 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24415.91 TRY

Ethereum gained a 0,40% value during morning hours, and the current price is $3806. When we consider the ETH/USDT pair technically, ETH broke the downtrend on December 1 and closed the day below this trend after the sharp price movement. And the daily candle close occurred below the zone marked with blue and the Fibo'61,80 level ($3931), so the positive outlook disappeared.

RESISTANCES 3909 / 4012 / 4086
SUPPORTS 3555 / 3657 / 3732

ETHEREUM [ETH] 24415.91 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 317.72 TRY

AVAX gained a 2,25% value during morning hours, and the current price is $109,07. When we consider the AVAX/USDT pair technically, AVAX has been continuing its price movement within the ascending channel since August. It broke the lower line yesterday after dropping. So, it closed the day below those levels in the daily chart. AVAX found support at $104,80 (50MA); it should hold onto this level.

RESISTANCES 115,83 / 122,48 / 128,23
SUPPORTS 91,03 / 97,68 / 103,43

AVALANCHE [AVAX] 317.72 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.22 TRY

Ripple gained a 0,85% value during morning hours, and the current price is $0,8572. When we consider the XRP/USDT pair technically, XRP continues price action inside the ascending channel on September 7 and the pullbacks after the reaction from the 50MA level. Most of the profits gained for the last period have been wiped out. If it continues retreating towards the lower line, a rise can be triggered around those levels.

RESISTANCES 0,8868 / 0,9168 / 0,9377
SUPPORTS 0,7850 / 0,8150 / 0,8359

RIPPLE [XRP] 8.22 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 964.99 TRY

LTC gained a 2,00% value during morning hours, and the current price is $148,3. When we consider the LTC/USDT pair technically, LTC continues its pullbacks for a week; even the breakout could not result in momentum. LTC retreated to the support zone marked with blue, so $141-144,7 levels for accumulation are open. Daily closures below this zone may cause deeper corrections.

RESISTANCES 153,36 / 158,72 / 163,71
SUPPORTS 132,66 / 138,02 / 143,01

LITECOIN [LTC] 964.99 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 2,20% value during morning hours, and the current price is $20,77. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel as of July 2020, a short-term price movement accelerated to $24,42, the resistance level (200MA). LINK retreated after surging to $24,49 and facing a reaction from the 200MA. As we mentioned in the daily bulletin, retracements may continue to the level of $20.88 for LINK. However, considering the market conditions and sharp price movements, demand could surge after a pullback towards the lower line of the ascending channel.

RESISTANCES 22,22 / 23,60 / 24,57
SUPPORTS 17,54 / 18,92 / 19,88

BASIC ATTENTION TOKEN [BAT] 5.50 TRY

BAT gained a 1,10% value during morning hours, and the current price is $1,2308. When we consider the BAT/USDT pair technically, BAT faced resistance from the zone marked with blue for the last two days and retreated to $1,22 (50MA). If it holds below the 50MA, the retracements may continue to test the uptrend on October 30. On the other hand, the price movement above the 50MA level will trigger a rise for retesting the zone marked with blue in the daily chart.

RESISTANCES 1,2999 / 1,3755 / 1,4234
SUPPORTS 1,0529 / 1,1285 / 1,1764

BASIC ATTENTION TOKEN [BAT] 5.50 TRY +7.00 +0.03 VOL 21 BAT

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