DAILY CRYPTOCURRENCY NEWS

SEC Chair Gensler Discusses How Securities Laws Apply to Crypto Tokens

Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), explained how securities laws apply to crypto tokens when listing the commission's priorities for regulating the crypto space. ”Our role at the SEC is to ensure that the public still gets basic protection," he said.

Fed Chair Powell: CBDC and Stablecoins Can Coexist

Federal Reserve Chairman Jerome Powell appears to have changed his mind regarding his previous statements about the relationship between CBDCs and stablecoins. Testifying before the US Congress, he suggested that both can coexist decisively without the former replacing the latter.

Cash App Is Bringing Bitcoin Lightning Network to its 36 million Users

As a sign of increasing adoption, Cash App is preparing to offer its users access to the Lightning Network. Moreover, with the fact that the Cash App has been steadily increasing the number of active monthly users since 2016, it will greatly benefit the use of Bitcoin. The Cash App is currently only available to US and UK users.

IMF Economists Warn Against the Risk of 'Contagion' in the Increasingly Bitcoin and Stock Markets Connected

Several IMF economists claim that the relationship between stocks and cryptocurrencies such as Bitcoin could soon 'pose a risk to financial stability.'

Majority of JPMorgan Customers Are Bullish on Bitcoin

The majority of customers surveyed by the US banking giant JPMorgan Chase believe that Bitcoin will close in 2022 above $60,000. Only 2% of respondents believe that Bitcoin will trade below $10,000 by 2023.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359143.43 TRY

Bitcoin lost a 0,40% value during morning hours; the current price is $42.680. As a sign of increasing adoption, Cash App is preparing to offer its users access to the Lightning Network. Moreover, with the fact that the Cash App has been steadily increasing the number of active monthly users since 2016, it will greatly benefit the use of Bitcoin. The Cash App is currently only available to US and UK users.

When we consider the BTC/USDT pair technically, BTC tested below $40,000 and found support at $40.641 (Fibo'38,20). It closed the day above this level. As we mentioned in the daily bulletin yesterday, we cannot yet say a clear reversal signal in BTC, which has turned its direction up with positive divergence in the RSI in the 4-hour chart. Still, a relief action can occur after the sharp drop. A candle close above $43,000 triggers a rise towards $45,000.

RESISTANCES 43.388 / 44.144 / 45.188
SUPPORTS 41.588 / 40.544 / 39.788

BITCOIN [BTC] 359143.43 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24613.44 TRY

Ethereum lost a 0,25% value during morning hours, and the current price is $3236. When we consider the ETH/USDT pair technically, ETH had sharper downward price movements than Bitcoin. But it could recover better. The daily close yesterday was above this level in ETH, which broke the upward trend that existed as of August. As we mentioned in the bulletin yesterday, ETH could hold onto $3000, and our short-term price expectation realized at $3261 (Fibo'61,80). The 200MA level ($2441) can be retested if it breaks it upwards.

RESISTANCES 3303 / 3380 / 3493
SUPPORTS 2925 / 3002 / 3114

ETHEREUM [ETH] 24613.44 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.46 TRY

AVAX lost a 0,30% value during morning hours, and the current price is $89,25. When we consider the AVAX/USDT pair technically, AVAX had retreated to $79.80 (support level) in the weekly chart and then broke the level of $86,62 (Fibo'50) upwards. There is no daily reversal signal, but in the 4-hour chart, a positive divergence appears to have triggered a rise.

RESISTANCES 92,04 / 94,74 / 98,48
SUPPORTS 79,16 / 81,86 / 85,60

AVALANCHE [AVAX] 318.46 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.74 TRY

Ripple lost a 0,10% value during morning hours, and the current price is $0,7727. When we consider the XRP/USDT pair technically, along with the sharp declines experienced throughout the market, XRP retreated to the support level of $0,7121. XRP found support at the same level and broke the downtrend on December 21. In the 4-hour chart, MACD gives a buy signal. The short-term outlook supports the rise towards $0,85.

RESISTANCES 0,7874 / 0,8067 / 0,8347
SUPPORTS 0,6928 / 0,7121 / 0,7401

RIPPLE [XRP] 8.74 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 987.15 TRY

LTC lost a 0,30% value during morning hours, and the current price is $131,5. When we consider the LTC/USDT pair technically, LTC is priced around $145-131, and there is a bullish engulfing candle on the daily close levels. With the recovery experienced by the market in general yesterday, short-term rises are expected to be seen. The important resistance level is the downtrend level as of November 2021. A breakout of the downtrend can trigger a rise.

RESISTANCES 133,93 / 136,99 / 140,52
SUPPORTS 120,75 / 123,81 / 127,34

LITECOIN [LTC] 987.15 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 0,10% value during morning hours, and the current price is $26,61. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel, the positive outlook distinguishes. We see this as a result of the profit realization of short-term investors for LINK, which has had a positive performance in the recent period. The first major resistance level for LINK, which we expect long-term upward price movement with the return signal, is the $35-36 band.

RESISTANCES 27,81 / 29,08 / 30,13
SUPPORTS 23,16 / 24,44 / 25,48

BASIC ATTENTION TOKEN [BAT] 5.61 TRY

BAT gained a 0,70% value during morning hours, and the current price is $1,0694. When we consider the BAT/USDT pair technically, BAT broke the uptrend as of November last weekend, finding support at $0.9679 (Fibo'38,20) and went up. Yesterday, we mentioned in the daily bulletin that major price moves continue to affect altcoins. Along with the slight recovery in the majors, we see that the bullish engulfing candle formation has formed in the BAT, which closed positively yesterday. If the BAT, which has retested its uptrend this morning, breaks this trend upwards, the $1.23 level (50MA) appears to be the next resistance level.

RESISTANCES 1,0983 / 1,1289 / 1,1829
SUPPORTS 0,9291 / 0,9597 / 1,0137

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

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