DAILY CRYPTOCURRENCY NEWS

XRP Investors Are Allowed to Join the Lawsuit

The district judge has granted XRP investors to intervene in the legal battle between the company and the SEC. With this development, XRP holders will also have a say in reporting their grievances during the lawsuit.

UK Will Prioritize the Stablecoin Regulation

The UK's Minister of Financial Services has stated that regulations regarding stablecoins will be prioritized rather than the broader cryptocurrency market. The minister has also noted that intervening in the wider cryptocurrency market is less urgent.

The CME Launches Micro Bitcoin Futures

The Chicago Mercantile Exchange (CME) will launch micro futures contracts, which will be one tenth size of a BTC, on May 3. BTC contracts purchased at a cost of one tenth will expand the range of investors.

Tether Proves Its Credibility

In accordance with the document created by Moore Cayman, as the stablecoin with the world's largest market value Tether (USDT) has proven its reserves are fully backed. The document shows that Tether's reserves have matched the amount of USDT in circulation since 2018.

PayPal Will Let US Users Pay with Cryptocurrencies

USA-based online payment system PayPal has added the "checkout with crypto" option to their payment system to enable its users in the USA to use cryptocurrencies as a means of payment. With this new feature, the crypto holdings of the users will be converted to fiat currency at checkout.

Canadian Company Offers BTC Rewards

The publicly listed Canadian company Mogo has announced their Bitcoin reward program which applies to the company’s prepaid Visa cardholders. With this program, Mogo members using the company's app platform can earn up to $3,100 of Bitcoins if they refinance a new mortgage or a new real estate loan.

 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 354551.34 TRY

Bitcoin is trading sideways this morning. Throughout the week, Bitcoin, which was already preparing for a rise with news from payment companies Visa and PayPal, had recovered from the $50,000 zone. Although some BTC sales were experienced from wallets yesterday, there has been a noticeable increase in the perpetual funding rate for the last two days. This ratio, which indicates that buyers are increasing in the futures market, shows that BTC demand is also brisk. No significant sales have been made by miners. Basically, we did not encounter any weaknesses specific to Bitcoin in the market where DXY and US bonds are monitored.

When the BTC/USD parity is technically analyzed, all eyes will be on the $58,400 level. This zone is the old record and resistance level. BTC, which is in the bullish channel as of appearance, has a record level of $59,500 and then a record level of $61,800. If the break occurs quickly, the channel mid-band exceeds $66,000. The $58,400 level is quite significant in pullbacks. Attention should be paid to purchases that are too far or close to the resistance. It is too early to say that it is fully settled on this level yet. The outlook is positive and with buyers.

RESISTANCES 59.480 / 60.422 / 61.494
SUPPORTS 57.466 / 56.394 / 55.452

BITCOIN [BTC] 354551.34 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24588.07 TRY

Ethereum maintains its bullish or moves above $1,800, with negative pricing ahead of the April 1 protests. In the last 24 hours, the number of new addresses has increased by 8% in Ethereum, and transaction fees have increased as much. The current pricing in ETH, which has gone through a difficult process due to transaction fees, is just a story of cheapness and the gap in between. Due to the Berlin hardfork in mid-April and Optimism postponed to summer, transaction fees seem to remain higher for a while. However, the biggest stress will be to overcome tomorrow. Investors should not panic at this point. The most important features of distributed data structures are that they are reliable and the information is distributed to all peers. For this reason, we do not think that there will be a situation like hacking and we want to remind that the attack will be carried out for protest. 

When the ETH/USD parity is technically analyzed, the downtrend that has existed since the record of $2,040 continues with confirmation, and rising for about a week since the $1,550 levels, a new channel has formed. The channel upper band is also the zone of $1,875-1,880 where the downtrend passes through and where the TOBO target is. Apparently, we have come to the resistance. It is necessary to either wait for the breakout or focus on the supports as it retreats. Therefore, it would be beneficial to follow the 1,875 $zone and not be in a hurry. The outlook is bullish.

RESISTANCES 1853 / 1886 / 1911
SUPPORTS 1737 / 1770 / 1795

ETHEREUM [ETH] 24588.07 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 320.05 TRY

AVAX will announce the Apricot update today. With this update, as well as reducing transaction costs, the Avalanche - Ethereum Bridge will also become more useful. Thus, we can witness that AVAX is preferred in different fields and platforms. On the other hand, when we examine the return spread of AVAX, which is a Proof of Stake (PoS) coin, with other PoS coins on a weekly basis; While Algorand sees that it yields 18%, ADA 9% and SOL 35%, AVAX stays here at 2% on a weekly basis. This may indicate its return potential may be higher.

When the AVAX/USD parity is technically analyzed, oscillators and Bollinger bands started to recover in the 4-hour period. For the parity, which holds at the $28.00 level, this level becomes support and a move towards $30.20, $31.25 and then $33.00, respectively, may occur. Thus, the parity, which is on the upward trend, can contribute to the positive course by turning the trend levels into a reaction zone.

RESISTANCES 30,38 / 32,08 / 33,18
SUPPORTS 24,77 / 26,48 / 27,58

AVALANCHE [AVAX] 320.05 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.30 TRY

In the course of the lawsuit between Ripple and SEC, the request of XRP investors to be involved in the lawsuit had been denied. According to the latest developments, the judge gave the green light to the lawyer acting on behalf of the XRP community and requested that investor requests be submitted by April 19. The court will deliver its official reply on May 17 and it will be determined what action will be taken on behalf of investors. Ripple has previously stated that it can move its headquarters in the USA to the Asian zone and that most of its investors are in Asia. Asia's payment company Trango, in which it owns a 40% stake, is an example of Ripple's growing plans on the Asian side.

When the XRP/USD parity is technically analyzed, the parity is under some pressure from this level as the $0.56 level is above the bearish trend for XRP. The $0.54 level of the Bollinger lower band in the 4-hour period, holding in the $0.56 zone, has become the support level that can be considered as an opportunity for the parity to retreat, and the $0.55 Fibo'61.80 retracement is the intermediate support level for the parity. After breaking the $0.56 bearish trend and confirming the 4-hour candlestick closes above this level, we can say that the rise can be supported for the parity, which leaves the tightness zone behind. For now, we are following the resistance-support zones, the trend is positive.

RESISTANCES 0,5807 / 0,6071 / 0,6325
SUPPORTS 0,4771 / 0,5035 / 0,5289

RIPPLE [XRP] 8.30 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 976.05 TRY

Litecoin is pricing with a 2.8% retracement at $190 this morning. Its continued rise with BTC enabled Litecoin to catch Bitcoin on a weekly basis and brought a 9% value increase. However, the correction movement experienced after the increasing funding rates and profit realizations in wallets on the BTC side may cause some withdrawals for LTC. However, as can be seen from the monthly and annual returns of Litecoin, the market continues its positive course in general view.

When the LTC/USD parity is technically analyzed, the parity broke the downside after testing the $193 level several times, failing to stabilize in this zone. In the correction move in question, Litecoin tested $188 above the minor uptrend. The weak reaction on the trend is pricing the parity in the $190 zone. The initial resistance is located above the Fibo'50 zone in the $196 zone. The parity below this level can be expected to consolidate to some extent. Indicators are not separated from the uptrend, but it looks weak. 

RESISTANCES 198 / 204 / 208
SUPPORTS 180 / 185 / 189

LITECOIN [LTC] 976.05 TRY +7.00 +0.03 VOL 21 LTC

Chainlink is priced at $27.40 this morning with a 1.5% retracement on a daily basis. Following its integration with Filecoin, which was announced recently, offering storage solutions and added to Grayscale contracts, LINK reached 27% on a 7-day earnings basis and was 13 points ahead of Ethereum. On the other hand, depending on the NFT support of Chainlink oracles and the increasing interest in dynamic NFTs, we will follow the positive pricing of LINK.

When the LINK/USD parity is technically analyzed, the parity experienced an accelerated rise on the minor uptrend that it started on March 24, and its weekly increase reached 27%. The Fibo 38.20 retracement zone is above $27.00 and the uptrend can continue if sustained above this level. However, there may be some consolidation in the parity where the sales prevails. A short-term buy and sell strategy will be appropriate if it can continue its course between $27.00 and $29.00.

RESISTANCES 28,33 / 29,21 / 29,84
SUPPORTS 25,31 / 26,19 / 26,82

BASIC ATTENTION TOKEN [BAT] 5.56 TRY

Basic Attention Token is retracing 6% this morning and pricing is in the $1.10 zone. The $1.06 level above the minor uptrend launched on March 16 was the zone where the parity reacted after profit taking on the BTC side. Afterwards, prices entering a fast recovery phase are positioned slightly below the $1.11 level in the Fibo'38.20 slice. With closures above $1.11, bringing this level into support can create a new backlash and the parity can compensate for its daily loss. Likewise, support levels can be considered as opportunities for new buyers. In case of persistence above $1.06, we will see the course positive.

RESISTANCES 1,1929 / 1,2488 / 1,2877
SUPPORTS 1,0033 / 1,0592 / 1,0981

BASIC ATTENTION TOKEN [BAT] 5.56 TRY +7.00 +0.03 VOL 21 BAT

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