DAILY CRYPTOCURRENCY NEWS

SHIB Spikes 8% as Ether Whale Buys 4 Trillion Worth Shiba Inu Tokens

Shiba Inu, the trending meme token, provided a positive market-wide return of 10 percent in 24 hours yesterday, along with the purchase of 4 trillion SHIB tokens (about $136 million) by an Ether whale.

Bitcoin Will Replace the US Dollar, Jack Dorsey Says

In response to a tweet in which rapper Cardi B was asked if crypto was going to replace the US dollar, Jack Dorsey, who recently left his role as Twitter CEO to concentrate on his other company, Square, said: "Yes, Bitcoin will."

Bank of Russia to Allow Crypto Investment via Foreign Firms

Shortly after Bank of Russia governor Elvira Nabiullina announced the Bank’s intention to prevent the local financial system from using crypto, another executive at the central bank clarified that crypto investment will remain legal in Russia.

Bloomberg Expert Explains Spot Bitcoin ETF Could Attract Billions of Dollars

Bloomberg Intelligence believes that if the Bitcoin spot exchange-traded fund is approved, the demand among investors will be much higher. He stated the reason as the reduction of costs related to the management of BTC contracts. James Seyffart from the Bloomberg Intelligence analytics team thinks that cryptocurrency spot ETFs will bring a lot more assets to this area.

Former SEC Chairman Turned a Crypto Manager Says the US Should Tokenize Its Treasuries
Former US Securities and Exchange Commission (SEC) chair Jay Clayton reckons the US should tokenize its Treasuries to make them more like crypto. In addition to this comment, Clayton also stated that the blockchain is now a "matter of national security."
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359149.30 TRY

Bitcoin gained a 0,80% value during morning hours; the current price is $49.245. Bloomberg Intelligence believes that if the Bitcoin spot exchange-traded fund is approved, the demand among investors will be much higher. He stated the reason as the reduction of costs related to the management of BTC contracts. James Seyffart from the Bloomberg Intelligence analytics team thinks that cryptocurrency spot ETFs will bring a lot more assets to this area.

When we consider the BTC/USDT pair technically, BTC found support at an uptrend as of August 3 and broke the downtrend upwards with above-average volume. It can continue the rise towards the downtrend; the next resistance level is $50,500.

RESISTANCES 49.800 / 50.269 / 51.017
SUPPORTS 48.583 / 47.835 / 47.366

BITCOIN [BTC] 359149.30 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24627.67 TRY

Ethereum gained a 0,85% value during morning hours, and the current price is $4049. When we consider the ETH/USDT pair technically, ETH broke the stagnated zone in December and closed the day beyond the zone. As mentioned in the bulletin yesterday, a breakout will determine the trend. The daily metrics show a buy signal from MACD. Momentum might follow if it breaks the downtrend upwards and closes the day above.

RESISTANCES 4099 / 4139 / 4207
SUPPORTS 3881 / 3921 / 3990

ETHEREUM [ETH] 24627.67 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.52 TRY

AVAX gained a 1,75% value during morning hours, and the current price is $124,53. When we consider the AVAX/USDT pair technically, AVAX, which has been continuing its price movement within the ascending channel since August, the consistent rise towards $117 (Fibo'78,60) occurred. And short-term retracements followed. AVAX, which broke this resistance at $117.20 yesterday and closed the day above. Then, it rose to the level of $127, as we mentioned in the bulletin yesterday. Our short-term price expectation for AVAX, which we do not think that the price movement in the upward direction has ended yet, is the $144 level (the midrange band level).

RESISTANCES 129,43 / 134,11 / 140,91
SUPPORTS 106,47 / 111,15 / 117,95

AVALANCHE [AVAX] 318.52 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.79 TRY

Ripple gained a 1,50% value during morning hours, and the current price is $0,9594. When we consider the XRP/USDT pair technically, XRP continues price action inside the downward trend on September 7. And XRP has a momentum after the breakout. Yesterday's daily close was above the 200-day moving average on the XRP, which captured a positive price movement along with the buy signals close to the support zone. The next short-term resistance level is the 50-day moving average ($0,9988).

RESISTANCES 0,9980 / 1,0326 / 1,0923
SUPPORTS 0,8094 / 0,8440 / 0,9037

RIPPLE [XRP] 8.79 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 988.82 TRY

LTC gained a 1,00% value during morning hours, and the current price is $156,2. When we consider the LTC/USDT pair technically, LTC, which found support at the zone marked with blue, rose towards the uptrend on November 10. LTC broke the trend this morning. If it closes the day above and reaches the intensive volume, it can continue to rise.

RESISTANCES 158,03 / 159,95 / 162,92
SUPPORTS 148,25 / 150,17 / 153,14

LITECOIN [LTC] 988.82 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 2,50% value during morning hours, and the current price is $19,87. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel as of July 2020, found support at the lower line and broke the downtrend on November 10, then closed the day above. The first price target for LINK, which awaits momentum, is the level of $24.49 (200MA).

RESISTANCES 20,23 / 20,58 / 21,26
SUPPORTS 18,15 / 18,51 / 19,19

BASIC ATTENTION TOKEN [BAT] 5.62 TRY

BAT gained a 1,65% value during morning hours, and the current price is $1,1837. When we consider the BAT/USDT pair technically, BAT found support at the uptrend as of October 30 and surged last week. However, although it tested the 50MA level many times, a breakout could not occur. BAT tested this morning and yesterday the 50MA level after finding support at uptrend on Monday. If it breaks 50MA and holds onto it, a rise can occur towards the zone marked with blue.

RESISTANCES 1,2192 / 1,2470 / 1,2946
SUPPORTS 1,0684 / 1,0962 / 1,1438

BASIC ATTENTION TOKEN [BAT] 5.62 TRY +7.00 +0.03 VOL 21 BAT

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