DAILY CRYPTOCURRENCY NEWS

Ripple CEO Brad Garlinghouse Says Good Progress Has Been Made In SEC Litigation

In a recent interview with CNBC, Garlinghouse said, "We're seeing pretty good progress despite a slow-moving judicial process. Clearly, we’re seeing good questions asked by the judge, and I think the judge realizes this is not just about Ripple, this will have broader implications, and I think that’s a very good thing. I’m hopeful that certainly in 2022, there’ll be closure here.”

SEC Open Meeting on Dec. 2 Includes Crypto Panel Discussion

The U.S. Securities and Exchange Commission, or SEC, announced Wednesday the title of the upcoming crypto panel for its Dec. 2 Investor Advisory Meeting will be “Helping to Ensure Investor Protection and Market Integrity in the Face of New Technologies.”

Largest Bitcoin Whale Accumulates $411,000,000 in BTC As Crypto Markets Consolidate

Although there has been a decline throughout the market, a crypto whale buys Bitcoin in large amounts. Since November 8, a single wallet has accumulated 6,863 Bitcoins. With an average purchase price of $60,000 per BTC, the owner has already added roughly $411 million to a large wallet.

Japan's Largest Banks Will Start Testing Digital Currency Payments in the Coming Months

Several leading Japanese banks, including MUFG, SMBC, Mizuho, and Japan Post are joining other domestic organizations to venture into the cryptocurrency space with plans to enable blockchain payments through a digital currency. 

Bitcoin Has Processed More Volume Than PayPal This Year

Bitcoin has processed more dollar volume than PayPal so far this year. The peer-to-peer network transacted around $489 billion per quarter in 2021, while PayPal amounted to $302 billion. But Mastercard and Visa still process more money than Bitcoin.

One Million ETH Has Been Burned Since August

Since the introduction of the EIP-1559 protocol in August as part of the London hard fork, 1 million Ether (ETH) (over $4.24 billion) has been burned. The EIP-1559 protocol reformed the Ethereum fee market, modifying the limit for gas fees and introducing a burning feature that takes a portion of transaction fees on the blockchain out of circulation, to be canceled permanently.

Decentraland Exceeds 10% of Facebook's Budget As Nvidia Joins the Metaverse Race

The most advanced metaverse version of Ethereum, where you can play games, organize events, or trade NFT, Decentraland, has exceeded the $1 billion budget to invest on its platforms. An early backer of Decentraland, Barry Silbert said, "With MANA now over $5, there is $1 billion available to build the decentralized metaverse."

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 358908.02 TRY

Bitcoin gained a 0,22% value during morning hours; the current price is $57.280. Although there has been a decline throughout the market, a crypto whale buys Bitcoin in large amounts. Since November 8, a single wallet has accumulated 6,863 Bitcoins. With an average purchase price of $60,000 per BTC, the owner has already added roughly $411 million to a large wallet.

When we consider the BTC/USDT pair technically, Bitcoin continues to move within the ascending channel that exists as of July 20. As we mentioned in the daily bulletin yesterday, there was a positive RSI divergence and double bottom. The double bottom needs to be up $60,200 for approval. Although the outlook is positive, it is necessary to break the downward trend and move the price above 50MA to decrease sales pressure.

RESISTANCES 58.442 / 59.578 / 60.857
SUPPORTS 56.027 / 54.748 / 53.612

BITCOIN [BTC] 358908.02 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24593.62 TRY

Ethereum gained a 0,51% value during morning hours, and the current price is $4289. Since the introduction of the EIP-1559 protocol in August as part of the London hard fork, 1 million Ether (ETH) (over $4.24 billion) has been burned. The EIP-1559 protocol reformed the Ethereum fee market, modifying the limit for gas fees and introducing a burning feature that takes a portion of transaction fees on the blockchain out of circulation, to be canceled permanently.

When we consider the ETH/USDT pair technically, ETH, which has a reversal signal, finding support at $3940-4050 and bullish engulfing candle pattern, retested the 50MA level. There is no breakout of the downward trend. If ETH could not break it up, it can resume retreating. In this sense, the $4460 level should be in an upward direction.

RESISTANCES 4366 / 4438 / 4535
SUPPORTS 4028 / 4100 / 4197

ETHEREUM [ETH] 24593.62 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.55 TRY

AVAX gained a 5,84% value during morning hours, and the current price is $122,42. When we consider the AVAX/USDT pair technically, AVAX, which has been continuing its price movement within the ascending channel as of August, retreated to $112 as we expected. As of this morning, our first bullish price target for AVAX, which found support from this level, is $151. When retreating, the levels close to the midrange band should be followed again.

RESISTANCES 128,40 / 134,88 / 142,76
SUPPORTS 99,68 / 106,16 / 114,04

AVALANCHE [AVAX] 318.55 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.72 TRY

Ripple gained a 0,15% value during morning hours, and the current price is $1,0332. In a recent interview with CNBC, Garlinghouse said, "We're seeing pretty good progress despite a slow-moving judicial process. Clearly, we’re seeing good questions asked by the judge, and I think the judge realizes this is not just about Ripple, this will have broader implications, and I think that’s a very good thing. I’m hopeful that certainly in 2022, there’ll be closure here.”

When we consider the XRP/USDT pair technically, XRP, which moves in the ascending channel as of September 21, found support at $1,024. For today there isn't any new development for XRP. As we mentioned in the daily bulletin yesterday, there is a positive RSI divergence and double bottom pattern in the daily chart. But when we look at yesterday's daily candle, we should not ignore the possibility; the bullish engulfing candle might result in a drop. The important level is the lower band. The technical outlook is positive in XRP unless it closes the day below this level.

RESISTANCES 1,0541 / 1,0745 / 1,0991
SUPPORTS 0,9641 / 0,9845 / 1,0091

RIPPLE [XRP] 8.72 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 987.43 TRY

LTC gained a 2,21% value during morning hours, and the current price is $216,2. When we consider the BTC/USDT pair technically, Bitcoin continues to move within the ascending channel that exists as of September 21. LTC, which retested $206 (50MA), rose to $222,2 (Fibo'61,80), after finding support. LTC faced a reaction from this level. If it holds onto the 50MA level, a rise towards the midrange band can be expected.

RESISTANCES 224,90 / 231,95 / 241,40
SUPPORTS 191,90 / 198,95 / 208,40

LITECOIN [LTC] 987.43 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 2,40% value during morning hours, and the current price is $26,14. When we consider the LINK/USDT pair technically, the negative outlook resumes in the daily chart. If broke the 200MA level ($26,12) and closed the day below this level. Although it is priced just above 200-MA again this morning, it is important that it performs the daily close above this level.

RESISTANCES 26,97 / 27,74 / 28,65
SUPPORTS 23,60 / 24,37 / 25,28

BASIC ATTENTION TOKEN [BAT] 5.61 TRY

BAT gained a 5,24% value during morning hours, and the current price is $1,1877. When we consider the BAT/USDT pair technically, there is a stagnated price movement after sharply rising on October 30. Although the sell signal from the MACD continued in the daily chart, as we mentioned in the bulletin yesterday for the BAT, the price movement that determines the direction would be the breakout of the stagnated zone, and yesterday it broke the downward trend and closed the day above this resistance. As of this morning, BAT is on the rise, and the short-term resistance level is Fibo'78,60.

RESISTANCES 1,2706 / 1,3326 / 1,4562
SUPPORTS 0,8994 / 0,9614 / 1,0850

BASIC ATTENTION TOKEN [BAT] 5.61 TRY +7.00 +0.03 VOL 21 BAT

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