TECHNICAL ANALYSIS
BTC/USDT
With Texas adopting an official Bitcoin reserve law, it became the third US state to do so, following New Hampshire and Arizona. On the institutional investor front, KULR Technology increased its total BTC holdings to 800 and Mt. Gox receivables to 75,000 BTC, suggesting that companies are aggressively expanding their Bitcoin strategies. Although today was a relatively quiet day in terms of data, Bitcoin resumed its rally after the consolidation phase and is heading towards the ATH level.
When we look at the technical outlook, it is seen that BTC broke upwards on the eleventh day of the consolidation phase in parallel with the high tight flag pattern. At the 75,000 level, BTC, which caught a strong momentum in the uptrend it started with the double bottom pattern it formed with the double bottom pattern it formed from time to time and consolidated in horizontal bands, finally started to move towards the ATH level. The reduction of uncertainties on the market, especially with the end of trade wars arising from tariffs, is one of the main factors supporting the rise. The upward momentum that followed these developments was an important catalyst for BTC to attempt new technical highs. Finally, the break of the 105,000 level, despite the widening of the wavelength on the horizontal, combined with the golden cross structure where the 50 and 200-day moving averages intersect on the daily chart, created a technical impetus for the rise. On the 4-hour chart, the wave trend oscillator generated a buy signal again after yesterday’s sell signal with the closes at 105,000 and momentum indicators supported this structure, paving the way for the upward movement of the price. Accordingly, the current ATH level of 109,400 will be followed as the next resistance point. In case of a possible correction and re-claim, the 107,000 level will continue to be monitored as a minor support point.
Supports 107,000 – 106,000 – 105,000
Resistances 109,400 – 110,000 – 115,000
ETH/USDT
ETH surpassed the important technical level of the kumo cloud resistance at $2,565 this morning, rising as high as $2,600. This move indicates that buyers are regaining strength in the market in the short term, while the price breaking above the cloud implies a positive technical breakout according to the Ichimoku indicator. Within the Ichimoku structure, the buy signal formed by the tenkan level cutting the kijun level upwards has been confirmed as the price moved above the kumo cloud. This development shows that the bullish scenario is gaining strength in terms of market dynamics.
On the other hand, the Chaikin Money Flow (CMF) indicator remained in positive territory and trended upwards at the same time, indicating that net money inflows to the market continued. This indicates that institutional and retail investors continue to take positions on the buying side. In parallel to this, Cumulative Volume Delta (CVD) data reveals an increase in buy orders on the spot market. In addition to all these technical indicators, the Relative Strength Index (RSI) continued its upward trend and approached the overbought zone, indicating the presence of a strong momentum accompanying the price action. This rise in the RSI suggests that buyers are still dominant and the current uptrend is technically supported.
As a result, if the price stays above the $2,533 level during the day and in the evening, the current uptrend can be expected to continue. In case of a possible sag below this level, there may be a limited retracement with short-term profit realizations. However, the overall technical structure suggests that the upward trend is sustainable and buyers are largely in control.
Top of Form
Below the Form
Supports 2,533 – 2,254 – 2,029
Resistances 2,799 – 3,062- 3,246
XRP/USDT
Despite the weakness in technical indicators, XRP rebounded somewhat in the short term, supported by the upward movement seen in the overall crypto market, and rose to the important resistance point at the $2.39 level. However, since this level has stood out as an area where selling pressure has intensified in the past, the price experienced a slight retracement. This suggests that XRP is still facing some technical hurdles despite its efforts to capitalize on the overall positive sentiment in the market.
When technical indicators are analyzed, it is seen that the Chaikin Money Flow (CMF) indicator moved back into the positive zone for a short period of time, but could not stay here and headed down. This suggests that the capital inflows accompanying the price rally are not sufficient and buyers are still cautious. This fragility on the liquidity side raises questions about the continuity of the upward movement. When the Ichimoku indicator is evaluated, the upward movement of the tenkan level stands out as a positive signal in technical terms. However, in order for this signal to turn into a strong buying confirmation, the price needs to clearly break the upper band of the kumo cloud and persist above this level. It should be kept in mind that as long as it remains below the cloud, bullish scenarios are not confirmed, thus giving limited confidence. On the other hand, the Relative Strength Index (RSI) indicator has been trending upwards in tandem with the recent price action and has moved above the based MA line, suggesting that momentum is on the rebound.
As a result, despite the gradual weakness in technical indicators, it seems that XRP needs clearer technical improvements in order to achieve an upward breakout. Permanent closes, especially above the $2.39 level, may allow the fragile structure in the technical outlook to be replaced by a more robust uptrend. Otherwise, if it is rejected again from this level, the price will be more likely to re-enter the current downtrend.
Supports 2.2154 – 2.0841 – 2.0402
Resistances 2.3928 – 2.4765 – 2.5900
SOL/USDT
SOL price continued its uptrend. The asset remained within the downtrend that started on May 13. Testing the 50 EMA (Blue Line) as resistance, the price is currently testing the ceiling level of the downtrend and the strong resistance level of $171.82. If it breaks here, the $ 181.75 level can be followed. On the 4-hour chart, the 50 EMA (Blue Line) continued to remain above the 200 EMA (Black Line). This suggests that the uptrend may continue in the medium term. Also, the fact that the price is above both moving averages suggests that the market is currently bullish. Chaikin Money Flow (CMF-20) is in positive territory; in addition, an increase in daily inflows may move CMF to the middle of the positive zone. Relative Strength Index (RSI-14) is in positive territory and has continued to accelerate, breaking the downtrend that started on May 9 to the upside. This indicates an increase in buying pressure. The $181.75 level stands out as a strong resistance point in case of an uptrend on the back of macroeconomic data or positive news on the Solana ecosystem. If this level is broken upwards, the rise can be expected to continue. If there are pullbacks due to contrary developments or profit realizations, the $ 163.80 level may be retested. In case of a decline to these support levels, the increase in buying momentum may offer a potential bullish opportunity.
Supports 163.80 – 150.67 – 144.35
Resistances 171.82 – 181.75 – 189.54
DOGE/USDT
According to data from IntoTheBlock, Dogecoin saw its daily large trading volume increase by 41.12% as whales actively moved large amounts of tokens.
DOGE price continued its uptrend and rose by about 6.63%. The asset is currently testing the ceiling of the descending triangle pattern that started on May 11 to the upside. If it breaks here, the resistance level of $0.25025 can be followed. On the 4-hour chart, the 50 EMA (Blue Line) continued to be above the 200 EMA (Black Line). The fact that the price is above both moving averages suggests that the asset is willing to go up in the short term. The Chaikin Money Flow (CMF-20) indicator is in positive territory. In addition, an increase in inflows could push CMF to the upper levels of the positive zone. Relative Strength Index (RSI-14) has moved into positive territory. This indicates that selling pressure is decreasing. The $0.25025 level stands out as a strong resistance zone in case of a possible rise in line with political developments, macroeconomic data or positive news flow in the DOGE ecosystem. In the opposite case or possible negative news flow, the 0.21154 dollar level may be triggered. In case of a decline to these levels, the increase in momentum may start a new bullish wave.
Supports 0.22632 – 0.21154 – 0.19909
Resistances 0.25025 – 0.28164 – 0.30545
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The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided individually by authorized institutions taking into account the risk and return preferences of individuals. The comments and recommendations contained herein are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.
