DAILY CRYPTOCURRENCY NEWS

Vietnam, India and Pakistan Top Global Crypto Adaptation Index

The latest data from Chainalysis, a blockchain data and analytics platform, shows that crypto adoption has increased significantly worldwide. Countries such as Vietnam and India have seen a huge increase in cryptocurrency adoption over the past year.

VanEck Applies for ETF for ETH After BTC

ETF and Fund Manager VanEck applied to the SEC for an Ethereum ETF. The fund will provide investment opportunities for Ethereum futures and Ethereum funds.

Sec's New Regulation Statement on DeFi

"DeFi projects are not exempt from regulations," the SEC's Gensler said.

JPMorgan Chase Closes Compass Mining's Bank Accounts

JPMorgan Chase has reportedly closed the bank accounts of Bitcoin mining firm Compass Mining.

Galaxy Digital Sets Up DeFi Fund

Galaxy Digital HQ is setting up a DeFi fund for qualified investors that reflects the performance of nine tokes. This fund includes AAVE and MKR.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359161.67 TRY

Bitcoin, which gained about 0.8 percent in the morning, is priced at $47,109. When we check the chain data for Bitcoin, when we look at the 7-day average of the number of active addresses and the number of new addresses, we see net increases in these metrics. With the serious recovery in price, we interpret positively the increasing number of investors who are active in the market and newcomers.

When we consider BTC/USDT parity technically, BTC continued to move prices within the existing rising channel as of July 20, and although it fell to the level of $44,000 in the channel sub-band yesterday, it again closed above its 200-day moving average ($45626) with net support from this level. When we examine it in a 4-hour period, it is seen that MACD signals al and at the same time the trading volumes in the upward direction are above average. The next target for BTC is the previous peak level of $48149, which also corresponds to the channel mid-band. 
 

RESISTANCES 48.166 / 49.282 / 51.315
SUPPORTS 45.017 / 42.984 / 41.868

BITCOIN [BTC] 359161.67 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24625.20 TRY

Ethereum, which gained about 1.14 percent in the morning, is priced at $3221.7. An important news report for ETH, which continues to flow positive news, came from VanEck yesterday. ETF and Fund Manager VanEck applied to the SEC for an Ethereum ETF. The fund will provide investment opportunities for Ethereum futures and Ethereum funds. As the number of ETH waiting for approval increases, we believe that approving these ETFs will allow new money to flow into the market and have a positive impact on prices. 

When we consider the ETH/USDT parity in a technical sense, there is a positive recovery in the metric, although the sell signal from MACD continues on August 17th in the daily period. ETH, which has rejected the important support zone in the region of $2948, which corresponds to Fibo'23.60, is making a price move in the direction of resurgence with the support it has found from this region. It signals a buy MACD over a four-hour period, but $3,230 needs to be exceeded to maintain upwards. The next price target is $3335.

RESISTANCES 3321 / 3421 / 3602
SUPPORTS 2759 / 2859 / 3040

ETHEREUM [ETH] 24625.20 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.33 TRY

AVAX, which gained about 2.5 percent in the morning, is priced at $31.63. When we examine the AVAX/USDT pair technically, it still maintains its MACD positive outlook over the daily period on AVAX, which is priced above its current rising trend as of July 20. AVAX, which has faced resistance at $31.50 in the past two days, equivalent to Fibo'78.60, is priced above this level in the morning. Despite the sharp rises in the outlook, we think there will be rises of up to $35-36 during the day for AVAX, which we do not think has yet completed its rise. There is a significant resistance level in the $34 - $37 band. For AVAX, which has seen sharp rises, price movements in this region should be monitored.
 

RESISTANCES 37,30 / 39,79 / 44,08
SUPPORTS 23,72 / 26,22 / 30,51

AVALANCHE [AVAX] 318.33 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.74 TRY

Ripple, which lost about 1.5 percent in the morning, is priced at $1.2117. When we consider the XRP/USDT pair technically, XRP, which experienced a 23 percent drop from its peak level of $1.35, rose again with significant support in the horizontal and also net support at $1,065, which corresponds to Fibo'38.20. XRP, which closes daily at just below $1.2379, which corresponds to Fibo'50, maintains the MACD receive signal in the daily period. If XRP exceeds the $1.2379 level and persists above it, our next price target is $1.41.

RESISTANCES 1,2729 / 1,3265 / 1,4179
SUPPORTS 0,9829 / 1,0365 / 1,1279

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

LITECOIN [LTC] 987.52 TRY

LTC, which lost about 0.42 percent in the morning, is priced at $176.22. When we consider the LTC/USDT parity technically, LTC broke its existing rising trend downwards as of July 20 due to the negative discrepancies we followed in the 4-hour period, and found support from the level of $164.10, which corresponded to Fibo'23.60 after the breakdown. As we mentioned in the bulletin yesterday, if LTC recovers, the next target is the short-term resistance zone at $175, and LTC reached that target level in the morning. If it does not remain a retesti of the downward breaking rising trend and this resistance zone breaks upwards, our next short-term price target for LTC, which we expect to see sharp rises, is $189.
 

RESISTANCES 180,99 / 186,57 / 195,37
SUPPORTS 152,23 / 157,81 / 166,61

LITECOIN [LTC] 987.52 TRY +7.00 +0.03 VOL 21 LTC

LINK, which appears to be haim of horizontal price movement in the morning, is priced at $27.10. When we examine the LINK/USDT parity technically, LINK recently broke its existing rising trend downwards as of July 20, and has experienced a retreat towards the level of $24, which corresponds to Fibo'38.20. LINK's support from the region close to this level also rose above the Fibo's $26.47 level, which corresponds to Fibo'23.60, as BTC started to be priced again on its 200-day moving average yesterday. LINK, which is currently rejecting its rising trend from below, can continue its rise towards $30 if it can rise above this level.

RESISTANCES 28,14 / 29,24 / 31,07
SUPPORTS 22,27 / 23,38 / 25,21

BASIC ATTENTION TOKEN [BAT] 5.61 TRY

BAT, which lost about 1.04 percent in the morning, is priced at $0.7539. When we consider BAT/USDT parity in technical terms, BAT, which found support from the region at $0.71 in the horizontal after the rising trend breakdown, continues to sell on MACD when examined in the daily period. With the rises seen on the Bitcoin side, there is a market-wide recovery. BAT is expected to continue to be priced in the upward direction unless the daily close below $0.724.

RESISTANCES 0,7741 / 0,7996 / 0,8379
SUPPORTS 0,6465 / 0,6720 / 0,7103

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

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