DAILY CRYPTOCURRENCY NEWS

SoftBank-Backed Start-Up to Offer Cryptocurrency Investment Service (CNBC Report)

DriveWealth, a SoftBank-backed start-up that helps fintech firms offer stocks, will reportedly offer cryptocurrency trading services to customers. The company will acquire Crypto-Systems, a separate digital asset organization based in the United States.

FSInsight's Ethereum Year-End Target is $12,000 and Bullish Forecast for Bitcoin

The research firm, which provides services to clients in a range of investment vehicles, including digital assets, said it expects the second-largest cryptocurrency by market cap to see a huge rise in 2022. FSInsight highlighted that the digital asset has the potential to return more than 250% from its present value by the end of the year. FSInsight hinted what to expect from Bitcoin as well as Ethereum. Research notes for the outlook for the leading cryptocurrency say that the digital asset could rally up to $200,000 in the second half of 2022.

In the House Hearing, Congress Rejects Treasury’s Proposed Stablecoin Regime

The Treasury's effort to transition stablecoin issuers to a banking regime met solid resistance from the House Financial Services Committee yesterday, but other reporting requirements are certainly up for debate.

XRP Prices Rise After Number of Active Addresses On Its Network Hits All-Time High

The price of XRP, the native currency of the XRP Ledger, has returned over 36% in the past few days after the number of active addresses on the network soared to an all-time high above 200,000.

Georgia Is An Attractive Area For American Bitcoin Miners (Report)

The state of Georgia could be the next hub for cryptocurrency miners as it provides relatively low electricity prices and large amounts of nuclear and solar power, according to new coverage. Also, local regulators have taken a friendly stance towards this aspect of the digital asset industry.

Stablecoin Whale Domination — Tether Addresses Valued at $1M Own More Than 80% of USDT Supply

Data from ten chain researchers at Santiment as the market cap of stablecoin Tether approaches $80 billion at its current valuation of $77.9 billion. It shows that $1 million worth of Tether addresses hold more than 80% of the entire supply.

New Tax Proposal In Kazakhstan Could Push Crypto Miners Out

Kazakhstan Deputy Finance Minister Marat Sultangaziyev recently proposed that the government increase the electricity tariff by 335%. If this is accepted, it means that cryptocurrency miners in the country will no longer pay a flat rate of $0.0023 per kWh. Instead the electricity fee will now be $0.01.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 351090.69 TRY

Bitcoin lost a 1,05% value during morning hours and is priced around $43.447.
Research notes for the outlook for the leading cryptocurrency say that the digital asset could rally up to $200,000 in the second half of 2022.

When we consider the BTC/USDT pair technically, BTC broke the downtrend as of November 10, on Friday along with sharp sales and continues its upward movement. Along with the downtrend, BTC, which broke the resistance zone at $39,000-40,500  and the $42,669 level (50MA), could hold above those levels in the daily chart. Although the doji candle formation was formed as of yesterday's close, as long as the persistence above 50MA is provided, the $49200 level (200MA) could be targeted.

RESISTANCES 45.077 / 46.635 / 47.823
SUPPORTS 42.331 / 41.143 / 39.585

BITCOIN [BTC] 351090.69 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24528.15 TRY

Ethereum lost a 0,90% value during morning hours and is priced around $3086. The research firm, which provides services to clients in a range of investment vehicles, including digital assets, said it expects the second-largest cryptocurrency by market cap to see a huge rise in 2022. FSInsight highlighted that the digital asset has the potential to return more than 250% from its present value by the end of the year.

When we consider the ETH/USDT pair technically, ETH broke the short-term minor trend upwards and could hold onto $2985 (the resistance zone). ETH, which started the new week positively, has been testing the resistance level, which coincides with the major downtrend, for the past two days, and encounters resistance from this zone. If ETH breaks the level of $3210 (50MA and Fibo'50) downwards, rise can continue. Otherwise, a pullback towards the $2985 levels could be seen.

RESISTANCES 3201 / 3317 / 3405
SUPPORTS 2793 / 2909 / 2997

ETHEREUM [ETH] 24528.15 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 317.00 TRY

AVAX gained a 0,76% value during morning hours and is priced around $87,35. When we consider the AVAX/USDT pair technically, AVAX, which sharply fell to $50, broke the major resistance level at $79,80 upwards. So, the sales pressure decreased and there is an upward acceleration. If AVAX, which has tested its 50-day moving average for the past two days, persists above this level in the daily chart, it can also break its downtrend upwards and it is expected to experience an acceleration in the upward direction.

RESISTANCES 92,18 / 97,34 / 102,05
SUPPORTS 72,44 / 77,60 / 82,31

AVALANCHE [AVAX] 317.00 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.23 TRY

Ripple lost a 2,70% value during morning hours and is priced around $0,8494. The price of XRP, the native currency of the XRP Ledger, has returned over 36% in the past few days after the number of active addresses on the network soared to an all-time high above 200,000.

When we consider the XRP/USDT pair technically, XRP has finished its sideways trend, as we mentioned in the last daily newsletter, and broke the zone upwards. After the breakout, sharp rises occurred. XRP, which broke both the major downtrend and the 50MA level, continues to rise towards $0.9591 (200MA).

RESISTANCES 0,9087 / 0,9680 / 1,0223
SUPPORTS 0,6815 / 0,7408 / 0,7951

RIPPLE [XRP] 8.23 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 972.04 TRY

LTC gained a 1,40% value during morning hours and is priced around $135,1. When we consider the LTC/USDT parity technically, LTC, which has seen a horizontal price movement between $113,1 and $ 104,9 for a long time, broke the $113,1 level upwards along with gains through the market for the last fews days. Facing resistance from this zone, LTC retraced and held above the $132.9 level (50MA). The rise towards $145 can be seen, if it does not break the 50MA level downwards.

RESISTANCES 141,78 / 148,92 / 155,14
SUPPORTS 115,06 / 122,20 / 128,42

LITECOIN [LTC] 972.04 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 2,00% value during morning hours and is priced around $17,95. When we consider the LINK/USDT pair technically, there is no major change in the outlook, as we mentioned in the daily newsletter yesterday. LINK continues price action inside the ascending channel as of July 2020 in the weekly chart. And it surged after finding support from the channel lower line. For LINK, which did not break the blue-marked demand zone to the downside, the upward trend is expected to continue towards the $20.79 level (50MA level).

RESISTANCES 19,18 / 20,34 / 21,12
SUPPORTS 15,29 / 16,45 / 17,24

BASIC ATTENTION TOKEN [BAT] 5.54 TRY

BAT lost a 0,90% value during morning hours, and is priced around $0,9122. When we consider the BAT/USDT pair technically, BAT has repeatedly tested the uptrend that has existed since June 2021 and broke it upwards again. Following this breakout, BAT faced a high demand. The first resistance level is $0,9555. BAT faced a reaction from the level of $0,967, after rising up to the downtrend that existed since November 28 and the Fibo'6180 tranche. If the breakout of the long-term uptrend occurs, a pullback towards the $0.80 levels can be seen.

RESISTANCES 0,9682 / 1,0219 / 1,0647
SUPPORTS 0,7752 / 0,8289 / 0,8717

BASIC ATTENTION TOKEN [BAT] 5.54 TRY +7.00 +0.03 VOL 21 BAT

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