DAILY CRYPTOCURRENCY NEWS

Oracle Tokens on the Rise as Blockchain Projects Focus on Interoperability

2022 seems to be a transformative year for the cryptocurrency ecosystem, as the focus on interoperability between blockchain networks has come to the fore, and numerous projects have announced plans to connect their platforms with other protocols.

Vitalik Buterin Proposes "Multidimensional EIP-1559" for Ethereum

Vitalik Buterin shared a new proposal called "multidimensional EIP-1559". The update will affect Ethereum's gas fee markets and the base fee charged for different resources within the Ethereum Virtual Machine. EIP-1559 was introduced in August to make Ethereum gas fees more predictable. It involves burning part of the ETH in each transaction, and therefore making the supply more scarce.

Nasdaq-Listed Company Offers Dividend With 'First Ever' Bitcoin

BTCS, a blockchain infrastructure, and technology firm listed on Nasdaq, announced that it would become the “first” company listed on the stock exchange by offering its shareholders a dividend payable in Bitcoin.

Bloomberg Analyst: Bitcoin May Outperform Stocks in 2022 Despite Fed Tightening

The Federal Reserve’s signaling for tighter monetary policy in 2022 could provide short-term headwinds for risk assets such as stocks and cryptocurrency. However, there’s a good chance that Bitcoin (BTC) still comes out on top as investors recognize its value as a digital reserve asset, according to Bloomberg commodity strategist Mike McGlone.

Samsung Opens Metaverse Store in Decentraland

Electronics giant Samsung is entering the metaverse by opening a virtual store in Decentraland. The Samsung 837X virtual store, named after Samsung's flagship 837 store in New York, will open for a limited time from today, according to a press release from the company.

El Salvador Lost Almost 15% as Bitcoin Retraces to $43,000

The first country to accept Bitcoin as a legal tender became the top of the agenda of the anti-crypto community and some of its influencers after digital gold fell to $43,000, and the first country to officially buy Bitcoin suffered losses.

US Congress to Hold Oversight Hearing on Bitcoin Carbon Footprint

The U.S. Congress is preparing a hearing to examine the environmental impact of the Bitcoin carbon footprint. The subcommittee is reportedly working on a list of witnesses who could testify at an oversight hearing by the end of the month. Last year, large mining companies expanded their operations in such US states as New York, Texas, Alabama and Wyoming.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 358836.94 TRY

Bitcoin lost a 3,10% value during morning hours; the current price is $41.719. The Federal Reserve’s signaling for tighter monetary policy in 2022 could provide short-term headwinds for risk assets such as stocks and cryptocurrency. However, there’s a good chance that Bitcoin (BTC) still comes out on top as investors recognize its value as a digital reserve asset, according to Bloomberg commodity strategist Mike McGlone.

When we consider the BTC/USDT pair technically, BTC broke the major uptrend on August 3, and sales pressure came to stage. As we mentioned in the daily bulletin yesterday, a downward breakout could pull BTC's price down to the level of $40.641, which corresponds to the Fibo'38,20. There is no reversal signal yet.

RESISTANCES 43.258 / 44.715 / 45.837
SUPPORTS 40.679 / 39.557 / 38.100

BITCOIN [BTC] 358836.94 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24775.20 TRY

Ethereum lost a 5,70% value during morning hours, and the current price is $3218.26. Vitalik Buterin shared a new proposal called "multidimensional EIP-1559". The update will affect Ethereum's gas fee markets and the base fee charged for different resources within the Ethereum Virtual Machine. EIP-1559 was introduced in August to make Ethereum gas fees more predictable. It involves burning part of the ETH in each transaction, and therefore making the supply scarcer.

When we consider the ETH/USDT pair technically, ETH lost the ascending channel as of September. The subsequent drops occurred, and Ethereum came near the vital support zone. This support zone (the dip levels in September) should be followed. ETH can find support at $3140-2970 and a short-term reversal signal.

RESISTANCES 3431 / 3622 / 3765
SUPPORTS 2763 / 2954 / 3097

ETHEREUM [ETH] 24775.20 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 323.87 TRY

AVAX lost a 7,50% value during morning hours, and the current price is $88.03. When we consider the AVAX/USDT pair technically, AVAX faced resistance from $117,22 (Fibo'78,60 and the channel lower line) and started to go down. It retreated to Fibo'50. Considering the fact that no balance has been found across the market yet, it is expected that the retracements towards the $80, which coincides with the support level marked in black on the chart, will continue.

RESISTANCES 95,41 / 102,21 / 107,41
SUPPORTS 71,41 / 78,21 / 83,41

AVALANCHE [AVAX] 323.87 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.34 TRY

Ripple lost a 4,00% value during morning hours, and the current price is $0.7495. When we consider the XRP/USDT pair technically, there isn't any different outlook.  XRP has a downward price movement along with the "Death Cross." XRP broke the descending channel on September 7 and closed the day below. It has found support near $0,715 (demand-supply zone). There is no reversal signal in the short term. Therefore, we can interpret the buy orders from the support levels fit the medium-term positions.

RESISTANCES 0,7869 / 0,8225 / 0,8538
SUPPORTS 0,6531 / 0,6887 / 0,7200

RIPPLE [XRP] 8.34 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 984.23 TRY

LTC lost a 4,60% value during morning hours, and the current price is $129,4. When we consider the LTC/USDT pair technically, LTC has a stagnated price movement between $141-144 for a long time. And LTC broke the support zone downward and sharp sales followed. LTC retreated to $129.3 (the dip level on December 4). It can retrace to the new dip level. If intraday losses are not erased and there is no persistence above $129.3, the next support level for LTC is $113.

RESISTANCES 137,01 / 143,85 / 149,11
SUPPORTS 112,81 / 119,65 / 124,91

LITECOIN [LTC] 984.23 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 6,40% value during morning hours, and the current price is $23.61. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel as of July 2020, broke the 200MA level ($24.39) and closed the day above this level. With the sales experienced in the entire market this morning, LINK has today retreated below the 200MA. Although the positive outlook is maintained in the daily metrics, we cannot talk about permanent rises in the LINK without relief in the market and majors.

RESISTANCES 25,75 / 27,56 / 29,12
SUPPORTS 19,02 / 20,83 / 22,39

BASIC ATTENTION TOKEN [BAT] 5.57 TRY

BAT lost a 9,00% value during morning hours, and the current price is $1.0748. When we consider the BAT/USDT pair technically, BAT had a short rally and faced resistance from the zones marked with blue for the last few days. After this reaction, we were waiting for the uptrend to be tested, as we mentioned in the daily bulletin yesterday, for BAT, which broke down $1.24, which coincides with the 50-day moving average. This morning, along with the market-wide drop, BAT also tested its trend. If the daily close for the BAT, which is priced above again with the support is found in the morning, occurs below this level, the retracements may deepen.

RESISTANCES 1,1685 / 1,2594 / 1,3247
SUPPORTS 0,8561 / 0,9470 / 1,0123

BASIC ATTENTION TOKEN [BAT] 5.57 TRY +7.00 +0.03 VOL 21 BAT

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