DAILY CRYPTOCURRENCY NEWS

The European Union Can Begin the CBDC Test in 2023!

After the volatility created by the latest algorithmically supported attack on stablecoin (UST), Fabio Panetta of the ECB said he believed CBDCs would fix it. According to Panetta, the ECB is working on a preparatory phase to launch the Digital Euro. This phase will be completed in late 2023 and will allow it to test over the next 3 years.

Whale Buys 376 Billion Shibs!

Shiba Inu, one of the largest meme tokens, has returned to its place among the top 10 most traded tokens, according to a recent tweet from the WhaleStats cryptocurrency tracking platform. However, another major investor in the Ethereum blockchain purchased about 380 billion SHIBs.

Spotify Has an NFT Test!

Trying to bring in features that would allow artists to promote NFTs, Spotify reported that its new functionality was limited to “a very small group of artists." For this trial phase, the company targets several distinguished users based in the United States.

The Fear and Greed Index is at its Lowest Level since March 2020!

Although Bitcoin covers more than $30,000 a week, the "Fear and Greed Index", which analyzes the current sensitivity of the Bitcoin market, has declined to its 8th level in March 2020. 

Cryptocurrency Comment by Garry Gensler!

In a speech Tuesday, the SEC President Gary Gensler reiterated his intention to bring cryptocurrency exchanges and lending platforms into the regulatory area, warning that US citizens are diverting savings to “speculative crypto assets” and that the market needs investor protection.

China is Top 2. Bitcoin Mining Center!

China still hosts 21% of the total global Bitcoin hash rate, even after last year's local government banned all cryptocurrency operations. However, China, which had a BTC hash rate of more than 75% in 2019, was still the second largest Bitcoin hash rate provider by January 2022, according to a new report.

Bitcoin Comment by former FED Chairman Ben Bernanke!
Stating that Bitcoin is mostly used in underground activities, Bernanke stated that the recent decline has shown the disadvantage of experiencing continuous value change, so Bitcoin cannot be an alternative to any nominal money.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 351255.96 TRY

In Bitcoin, which has been trying to find support at the level of $30,000 with reactive purchases since the beginning of the week, the weak purchases have caused the level of $30,000 to be broken again as of today morning hours. While the sales reaction, which started with the fears of recession, continues with the Terra incident, where trust in cryptocurrencies is questioned, we see that the reactions are still limited despite the corporate interest. The "Fear and Greed Index", which analyzes the sensitivity of the Bitcoin market, has declined to the 8 levels tested in March 2020 as a result of the developments.
Bitcoin lost a 1,9% value during morning hours and is priced around $29.801. Critical support level for BTC/USDT appears to be 28,600. This level is in the lower line of the rectangular pattern (50-week). As the graph shows, it is very important that this level is not lost in weekly-basis candle. When we look at the Fibonacci levels on the weekly graph, we see that the level of 0.618 coincides with the lower line of the rectangular formation. We'll follow closures of over $28,600 to regain momentum for purchases.

RESISTANCES 30.664 / 31.348 / 31.936
SUPPORTS 29.392 / 28.804 / 28.120

BITCOIN [BTC] 351255.96 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24454.21 TRY

Although the demand for ETH is limited compared to BTC, we see that pricing in ETH continues to be above the psychological support level of $2000 in the morning hours when we see that it is stronger. Although strong data from the US over the past day have led to market reactive purchases, we see that while rising inflation expectations and downward growth revisions have continued to drive recession expectations, demand for risky assets remains limited.

Today, we see that the ETH/USDT parity, which has decreased by 2.27% as of the morning hours, is priced at 2042 USD. When we consider it technically, we can say that the 50-week rectangular formation found support from the lower line, 1750-1800 levels. Following the downtrend seen on the 4-hour graph, we expect the upward breakout of the triangular formation at the dip.
 

RESISTANCES 2109 / 2144 / 2207
SUPPORTS 1913 / 1949 / 2011

ETHEREUM [ETH] 24454.21 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 316.89 TRY

As a result of the negative news flow last week, we see that the effort to find support continues as of today morning hours in AVAX, which found support around $30 as a result of the response purchases that came to the fore after finding support at $22. The allegations that Terra was holding AVAX and selling their AVAXs to ensure liquidity were instrumental  in AVAX dropping.
AVAX lost a 2,88% value during morning hours and is priced around $33.40. When we look at the daily graph, it is seen that a 60-week channel went back from the lower line. We'll be tracking the direction of the stagnation zone forming at the lower line.
 

RESISTANCES 35,60 / 36,86 / 38,96
SUPPORTS 28,88 / 30,14 / 32,24

AVALANCHE [AVAX] 316.89 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.17 TRY

Ripple lost a 1,71% value during morning hours and is priced around $0.4291. When we consider the XRP/USDT parity in technical terms, we see that the uptrend level starting from March 15, 2020, is tested. We can say that the USD 0.42 levels shown by this rising trend are maintained on the weekly graph, so the major uptrend still continues. We will be following the symmetrical triangle formation monitored on the 4-hour graph.

RESISTANCES 0,4491 / 0,4623 / 0,4823
SUPPORTS 0,3827 / 0,3959 / 0,4159

RIPPLE [XRP] 8.17 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 971.90 TRY

LTC lost a 2,32% value during morning hours and is priced around $71.5. When we consider the LTC/USDT pair technically, there is no major news flow, when sales pressure in altcoins continue. As can be seen in the graph, the level of 68 USD is an important pivot point. We will be monitoring whether this level can be maintained.

RESISTANCES 74,83 / 76,80 / 79,44
SUPPORTS 65,61 / 67,58 / 70,22

LITECOIN [LTC] 971.90 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 3,11% value during morning hours and is priced around $7.48. When we consider the LINK/USDT parity technically, the downward trend since November continues and we see that sales have gained momentum since the beginning of the week. It will be critical not to lose the 7.5 level, which is the pivot point, on a daily closing basis. 

RESISTANCES 07,94 / 08,15 / 08,54
SUPPORTS 06,74 / 06,95 / 07,34

BASIC ATTENTION TOKEN [BAT] 5.53 TRY

BAT lost a 3,01% value during morning hours, and is priced around $0.4021. We see that the downtrend that appeared as of the beginning of April continues. We see that the level of 0.45, which is the dip level in July, is broken downwards. If it manages to stay above 0.45 USD, we think that purchase reactions may appear.

RESISTANCES 0,4305 / 0,4462 / 0,4707
SUPPORTS 0,3501 / 0,3658 / 0,3903

BASIC ATTENTION TOKEN [BAT] 5.53 TRY +7.00 +0.03 VOL 21 BAT

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.