DAILY CRYPTOCURRENCY NEWS

Joe Biden to Step Up Cryptocurrency Regulations as a Matter of National Security

Joe Biden's White House is expected to issue an executive order in the coming weeks on the actions that the US government will take regarding digital assets. The White House wants to bring order to the ‘haphazard approach’ that is currently being employed by regulators to Bitcoin and cryptocurrency. The order is set to come under the umbrella of national security efforts as the administration seeks to analyze cryptocurrencies and employ a cohesive regulatory framework that would cover cryptocurrencies, stablecoins, and NFTs.

$8 Billion New York Commercial Bank to Offer Bitcoin Service

Flushing Financial Corporation, the parent company of New York-based Flushing Bank, has partnered with crypto firm New York Digital Investment Group (NYDIG) to offer Bitcoin (BTC) services to its customers. The bank was founded in 1929 and had assets of more than $8 billion with net income of about $200 million at the end of 2021, according to the fourth quarter report.

IRS Special Agent: "Crypto is Future, But Fraud Everywhere"

A special agent from the Internal Revenue Service (IRS) says that the tax office has highlighted mountains of fraud in this crypto area. The IRS criminal investigation unit is trying to train all its agents on cryptocurrency and NFT issues because “this space is the future,” Korner said.

Axie Infinity's Blockchain Launches Governance Token

Sky Mavis, the founder of Axie Infinity, has launched the RON token, which will govern the Ronin blockchain.  The founder of the blockchain game Axie Infinity created the Ronin blockchain to scale the game’s success.

The Sandbox (SAND) Announces $50,000,000 Accelerator Fund for Metaverse Start-Ups

Popular gaming crypto The Sandbox (SAND) is partnering up with a global venture company to open an acceleration fund for developing metaverse start-ups. According to a news release, SAND will invest $250,000 in 100 new metaverse altcoins.

XLM Smart Contracts Are Coming to Stellar Network

Smart contracts are set to be launched on the Stellar ($XLM) network, as the Stellar Development Foundation (SDF) keeps looking at new ways to “further trust-minimized innovation” and enable “equitable access to the financial system.”

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 350174.41 TRY

Bitcoin gained a 0,10% value during morning hours; the current price is $37.207. Flushing Financial Corporation, the parent company of New York-based Flushing Bank, has partnered with crypto firm New York Digital Investment Group (NYDIG) to offer Bitcoin (BTC) services to its customers. The bank was founded in 1929 and had assets of more than $8 billion with net income of about $200 million at the end of 2021, according to the fourth quarter report.

When we consider the BTC/USDT pair technically, BTC has no major change. The price movement continues below the current downward trend in BTC as of November 10. As with the price in the daily chart, there is a clear downtrend in the RSI. Our expectation is that BTC will give a positive divergence in the daily chart, and with it the selling pressure will end with the breakout of the downtrend in the RSI.

RESISTANCES 37.865 / 38.599 / 39.753
SUPPORTS 35.977 / 34.823 / 34.089

BITCOIN [BTC] 350174.41 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24237.10 TRY

Ethereum gained a 0,20% value during morning hours, and the current price is $2437. When we consider the ETH/USDT pair technically, ETH had broken the support level at $2985. It plunged to $2200. ETH surged towards $2546 (Fibo'38,20) along with intraday gains, but then it lost the momentum and fell down. If it holds below the zone in the daily chart, a retracement towards $1800 may be observed. ETH retested the support level marked in blue.

RESISTANCES 2531 / 2626 / 2735
SUPPORTS 2123 / 2218 / 2327

ETHEREUM [ETH] 24237.10 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 316.96 TRY

AVAX gained a 0,53% value during morning hours, and the current price is $65,24. When we consider the AVAX/USDT pair technically, AVAX broke $79,80 (support level) last week and had a sharp downward price movement. AVAX, which experienced a decline towards the support zone marked in blue on the chart, surged along with the support and positive divergence in the 4-hour RSI. As we mentioned in the daily newsletter yesterday, AVAX experienced a decline due to the news flow before reaching the resistance level at $76. When the blurry market resuming, there are no reveraal signals in the daily chart for AVAX yet.

RESISTANCES 68,40 / 71,63 / 75,30
SUPPORTS 54,60 / 57,83 / 61,50

AVALANCHE [AVAX] 316.96 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.15 TRY

Ripple lost a 0,50% value during morning hours, and the current price is $0,6055. When we consider the XRP/USDT pair technically, XRP continues price action below the downtrend on November 10 and between the 0,5182-$0,7121 band. The XRP, which has tested the support zone that we marked in blue in the chart twice recently, is having sideways trend. As long as XRP holds onto the support marked in blue, a rise towards $0,71 can occur.

RESISTANCES 0,6213 / 0,6366 / 0,6533
SUPPORTS 0,5573 / 0,5726 / 0,5893

RIPPLE [XRP] 8.15 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 962.46 TRY

LTC gained a 0,25% value during morning hours, and the current price is $107,4. When we consider the LTC/USDT pair technically, LTC had a sideways trend between $113,1 and $104,9. So a breakout of this zone is important in the daily chart. There is no reversal signal for LTC, and major price movements should be followed. If it holds above $113,1 for the coming days, it can surge towards the 50MA level.

RESISTANCES 110,42 / 113,15 / 116,85
SUPPORTS 97,56 / 100,29 / 103,99

LITECOIN [LTC] 962.46 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 0,10% value during morning hours, and the current price is $15,31. When we consider the LINK/USDT pair technically, LINK continues price action inside the ascending channel as of July 2020 in the weekly chart. Every price movement marked in blue is the support level demanded by the investors. From there, rises can be triggered along with a reversal signal in the daily chart.

RESISTANCES 15,83 / 16,37 / 17,05
SUPPORTS 13,39 / 13,93 / 14,61

BASIC ATTENTION TOKEN [BAT] 5.45 TRY

BAT gained a 2,00% value during morning hours, and the current price is $0,8551. When we consider the BAT/USDT pair technically, BAT, which tested its uptrend as of June 2021 five times, broke it downwards recently. But now, it started to retest the uptrend. If a breakout does not occur, the retracements triggered by the resistance may continue towards the blue zone.

RESISTANCES 0,8883 / 0,9240 / 0,9780
SUPPORTS 0,7089 / 0,7446 / 0,7986

BASIC ATTENTION TOKEN [BAT] 5.45 TRY +7.00 +0.03 VOL 21 BAT

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