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WEEKLY CRYPTOCURRENCY NEWS

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 112200.13 TRY

At start of the week BTCUSD, began its retrace by failing to surpass 12000 resistance and retraced to 10000 support with observable retrace formations. In broad terms, the cryptocurrency, which is priced upwards on the channel that it created on the daily chart, has recovered from the channel support.

If the increase in the volume of long positions continues, the 10500, 10800, and 10900 resistances can be followed in the cryptocurrency. Surpassing the 10900-11000 band upward in an upward movement creates an important threshold for the cryptocurrency. If it holds in 11000, it may lead to 12000 levels. However, when we consider the channel, it seems beneficial to surpass this region that corresponds to the middle of the channel.

If the investor behavior, due to market conditions, advances in favor of the sale, the pricing up to the channel support we focus on will be met as usual. In this case, the 10200-10000 bands may be considered reasonable for retraces. However, if the specified bandwidth and channel support is broken, the selling pressure on the cryptocurrency may continue for a while. For this reason, it is beneficial to follow the support levels up to date.

RESISTANCES 10500 – 10627 – 10800 – 10900
SUPPORTS 10200 – 10000 – 9860 – 9650

BITCOIN [BTC] 112200.13 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 3318.22 TRY

Facing selling pressure after accelerating to 486 resistance during the week, ETHUSD tested 373 support with the retrace. It seems that the cryptocurrency, which has recovered from its area, is currently testing 397 resistance. If an upward reaction may occur in the 397-400 bandgap, resistances 407, 418, and 426 can be followed at close range. Breaking the 426 resistance can gradually bring acceleration up to 450. However, breaking the 450 level plays a critical role in an upward movement and is the region where sellers are densely positioned.


In a scenario where sellers are dominant, 392, 388, and 380 supports can be observed in the cryptocurrency. Breaking 380 may bring 373 and 363 supports with it. Since the downward break of this region, which will require attention, may increase the selling pressure, it is beneficial to monitor and keep up-to-date levels.
 

RESISTANCES 400 – 407 – 421 – 437
SUPPORTS 392 – 388 – 380 – 373

ETHEREUM [ETH] 3318.22 TRY +7.00 +0.03 VOL 21 ETH

LITECOIN [LTC] 474.53 TRY

LTCUSD, which has experienced a return from 64 resistance, has retreated to 45 levels by completing head shoulder pattern on the daily chart. It is seen that the cryptocurrency, which has recovered a little in the following process, is currently heading towards 51 resistance. If the resistance is broken and the market increases the volume of buyers in long positions, the 55 and 57 levels can be followed in the cryptocurrency. Breaking 57 resistance can trigger purchases of up to 63 resistance.

In the sales pressure that may occur in the '50s, it is beneficial to follow the 49, 47, and 43 supports respectively. At this point, breaking the 43-41 band downward may bring up-to-date tracking of support levels.
 

RESISTANCES 55 – 57 – 61 – 66
SUPPORTS 49 – 47 – 43 – 41

LITECOIN [LTC] 474.53 TRY +7.00 +0.03 VOL 21 LTC