Interest Rate Decisions in Turkey and Europe
Today at 14:00 CBRT will announce the one-week repo rate. Expectations are for CBRT to raise interest rates by 500bp from 30% to 35%. The European Central Bank will announce its interest rate decision at 15:15. The expectation is that interest rates in the European region will remain unchanged at 4.50%.
147 Million Dollars Liquidated
According to Coinglass data, there was a liquidation of 147 million dollars in leveraged positions due to the pullback when Bitcoin hit $ 35,000. Likewise on Tuesday, long positions were above $68 million and liquidations amounted to $80 million. CoinShares Research Fellow Luke Nolan said it is unlikely that the price will pull back unless there is a problem with Spot Bitcoin ETF breakthroughs.
Bitcoin Miners May Create Selling Pressure
One hedge fund manager suggested that Bitcoin briefly broke above $35,000 for the second time this week on Wednesday, but prices quickly reversed, possibly because that level triggered a large number of sell orders from miners. Charles Edwards, founder of Bitcoin-focused hedge fund Capriole Investments, said the $35,000 area represents a monthly resistance level for the price and could mean Bitcoin will consolidate below for some time after the crypto’s big rally. “Bitcoin miners are selling more of their treasure today than ever before. This could be a warning sign for consolidation.”
Parity Technologies Decides to Lay Off Staff
Parity Technologies, the company behind the Polkadot blockchain, is laying off 100 employees, equivalent to 30% of its workforce. Most of those laid off are from the marketing and business development departments. The staff layoffs come as Parity seeks to refocus on its core Polkadot blockchain and cryptocurrency services.
Injective Integrates Google Cloud’s BigQuery
Injective (INJ) has integrated Google Cloud’s BigQuery through its cloud computing provider Analytics Hub. Injective, a Layer-1 blockchain, joins a growing group of chains on BigQuery. Public access to the data will be through Injective Nexus, the official data integration protocol of the blockchain platform.
New “Sonic” Technology from Phantom
Fantom CEO Andre Cronje announced that the platform will revolutionize blockchain technology with the new Sonic update. Cronje thinks it is more costly to use networks like Ethereum. For Cronje, the solution to this problem is “Sonic”, a new technology that has revolutionized the Phantom. As the name suggests, Sonic is a project optimized for speed and is expected to take the Phantom even further.
New Integration for MetaMask Wallets from Solana
Solana has formed a new partnership with DeBridgeFinance and Solflare to enhance the user experience and enable zero-fee asset transfers from MetaMask wallets. Users who connect their MetaMask wallets to Solana apps will be able to access Solfare widgets. Users will also be able to exchange tokens and stake SOL.
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BITCOIN(BTC)
Bitcoin is priced at $ 34,670 with a 0.50% gain in value as of today morning hours. Yesterday we saw the price back above $35,000. If there is a pullback, $ 32,920 may be the first support level. If a lower correction is made, the $ 32,000 level needs to be maintained. In upward breakouts, it is very important to exceed $ 35,000 first. At breakouts above 37,500, we can see the $ 40,000 level. For the moment, it looks like it is consolidating. Whichever direction it breaks, we are likely to see voluminous movements in that direction.
ETHEREUM(ETH)
ETH, which gained 1.02% as of morning hours, is priced at $ 1804.70. After breaking above the horizontal band, we saw it break the resistances one by one. The range between 1830 and 1802 is very important and the price should hold here. The first support now seems to be the $1770 level, followed by $1742 if there is a stronger pullback. If the upward movement continues, we can see $ 1850 and then $ 1890.
RIPPLE(XRP)
XRP is priced at $0.5538 with a 0.25% loss in value as of morning hours. It is currently performing a retest to the upper level of the horizontal band it broke before, namely $ 0.55. This is a very healthy price movement and in a positive case, it could go back to the $0.58 level. If the retreat deepens, 0.5250 seems to be the first support zone.
AVALANCHE(AVAX)
AVAX is priced at $ 11.11 with a 5.50% gain in value as of morning hours. At AVAX, we were also in a very strong demand area. He was able to break through successfully. As long as it stays above $11, we can see very positive price movements. Its next target is to close above $11.40 and ensure permanence. Then, an exit up to the $12 level can be seen. In a downward correction, first $ 11 and then $ 10.65 can work as a support level.
SOLANA(SOL)
SOL is priced at $ 32.58 with a gain of 0.43% as of morning hours. SOL, which is traded above $ 32.13, which we follow as a resistance level, seems to be able to target higher levels as long as it stays above this level. In case of a possible rise, $34 is an important resistance level. If there is a pullback below the 32.13 level, the 29.60 – 29 zone, which is the zone where the reaction was taken before, can be followed as support.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 11.089 with a gain of 0.28%. LINK, which has experienced a good rise this week, seems to be trying to hold above the $ 11 level. The $11 level is a critical level for the continuation of the upward movement. If it persists above this zone, it may be possible to see an upward movement up to 12 and then 12.50 levels. The closest support level is 10.60. This level seems to be important for LINK in retracements.
ADA
ADA is priced at 0.2893 with a gain of 3.03% as of morning hours. When we examine the 12-hour chart, ADA, which breaks its rectangular horizontal movement upwards, can target 0.3020 levels if it maintains above this level. The 0.2760-0.28 region seems to be important as a support level. If it retreats below this zone, there may be a decline to 0.2680.
