Technical Analysis
BTC/USDT
US Federal Reserve Chairman Jerome Powell did not comment on monetary policy in his last speech and did not give any hints about the expected interest rate cut signals in the markets. On the other hand, Fed member Austan Goolsbee stated that the current inflation data is positive and the impact of the trade tariffs on the economy has been limited so far. The data set we will follow today includes the US Job Openings and Labor Turnover Rate (JOLTS). Apart from this, we will follow Trump and Tariff-specific news flows that will affect market dynamics.
Looking at the technical outlook with the latest developments, BTC completed its downtrend structure by testing the 103,300 level and then formed a rising minor trend structure. Yesterday, BTC, which was searching for direction in the 104,000 – 105,000 band, started an upward move after forming a doji candle pattern. Price indecision and the lack of a new catalyst are causing liquidation levels to be tested frequently. As we mentioned in the previous analysis, short trades above the 106,000 level could be liquidity targets in case of an upside breakout. As a matter of fact, BTC partially cleared the liquidity in this area by rising to 106,600 and then moved down again. On the other hand, it is noteworthy that buy positions have accumulated at 104,700 on the liquidation daily chart. At this level, it seems technically possible for the price to gather some more liquidity. While technical oscillators continue to generate a buy signal after a short sell signal, the momentum indicators turning positive provides an important support for the sustainability of the rise. Accordingly, the price can be expected to first test the buying positions at 104,700 and then target the selling positions above 106,800. With the technical backdrop gaining strength, the short-term bullish potential in BTC remains at the forefront.
Supports 104,000 – 103,300 – 102,800
Resistances 105,000 – 106,000 – 107,300
ETH/USDT
ETH touched the lower band of the kumo cloud, a key technical resistance, as high as $2,533 yesterday evening. With the breach of this level, the price broke the long-standing negative structure on the ichimoku indicator and shifted to a more positive outlook. The price action is supported by volume and momentum data. Another noteworthy development on the ichimoku indicator is the buy signal that emerged when the tenkan level crossed the kijun level upwards. This intersection is considered as a technically important signal in terms of the direction of the price. At the same time, a break of the kumo cloud lower band may confirm this signal and create a strong basis for the beginning of the uptrend.
In terms of technical indicators, it is seen that the Relative Strength Index (RSI) indicator supported the upward movement by exceeding the 58 level and no negative divergence occurred in this process. This indicates that market momentum is gaining strength and buying interest is increasing. On the other hand, the Chaikin Money Flow (CMF) indicator has been following a flat course with limited reactions to the bullish move. This suggests that there is not enough capital inflows in the spot market yet and the uptrend may be largely driven by futures. Cumulative Volume Delta (CVD) data also supports this view; spot buying volumes were weak and the uptrend was mostly fueled by aggressive trades in derivatives markets.
Although technical indicators show a positive outlook, it is possible that the price may experience limited pullbacks until the evening hours, especially as the CMF indicator remains weak and the lower band of the kumo cloud acts as a strong resistance. Such pullbacks could be caused by short-term profit realizations or the unwinding of leveraged positions in futures markets. However, the persistence of the price above the $2,625 level will pave the way for the current uptrend to continue strengthening. In particular, daily closes above this level may cause the market to gain confidence and buyers to step in more clearly.
Top of Form
Below the Form
Supports 2,533 – 2,254 – 2,130
Resistances 2,736 – 3,062- 3,246
XRP/USDT
XRP rose as high as the resistance zone at $2.21 yesterday evening amid a relatively weak liquidity flow. Although the price experienced a limited retracement with selling pressure from this level, technical indicators indicate that XRP has started to gain strength in the short term.
The Chaikin Money Flow (CMF) indicator continued its upward trend by crossing into positive territory, indicating that the liquidity entering the market has started to increase and there is a more willingness to buy. This can be considered as a recovery signal from the spot market. The noteworthy development in the Ichimoku indicator is that the tenkan level crossed the kijun level upwards, generating a buy signal. This intersection is a strong technical sign that the market has changed direction. In addition, the price hovering above both the tenkan and kijun levels indicates that the previously dominant negative structure has ended and the market’s equilibrium zone has now formed higher. This structure confirms that the market is gaining strength in favor of buyers and that the price technically has upside potential. On the momentum side, the Relative Strength Index (RSI) indicator surpassed its previous high and accompanied the rise, indicating that market dynamics have started to expand in the direction of buying and the upward movement is supported not only by price but also by strength. This structure in the RSI stands out as a positive signal for the continuity of the trend.
When the general outlook is evaluated, although it is possible that the XRP price may enter a horizontal consolidation process for a while during the day with the continued improvement in technical indicators, an upward break of the $2.21 level may be on the agenda in the evening. If this level is maintained above this level, it is possible that the buying pressure will increase further and a new bullish wave may begin. However, if the tenkan line at the $2.17 level is breached downwards, a short-term correction process may be triggered. Therefore, the tenkan level should be followed as an important reference point, especially for short-term positions.
Supports 2.0841 – 2.0402 – 1.9276
Resistances 2.2154 – 2. 3928 – 2. 4765
SOL/USDT
Classover Holdings has agreed a $500 million deal to develop its SOL treasury strategy.
SOL price was bullish after the pullback. The asset was up by about 6.84% after testing the $150.67 level twice, which is a strong support. The price tested the 200 EMA (Black Line) as resistance and retreated from there. At the same time, the inverse shoulder-head-shoulder pattern should be noted. On the 4-hour chart, the 50 EMA (Blue Line) started to be below the 200 EMA (Black Line). This suggests that a bearish trend may start in the medium term. At the same time, the fact that the price is below both moving averages suggests that the market is currently bearish in the short term. Chaikin Money Flow (CMF-20) is at a neutral level; in addition, a decline in daily inflows could push CMF back into negative territory. Relative Strength Index (RSI-14) is at neutral level. It also remained above the uptrend that started on May 31. This could be bullish. The $163.80 level stands out as a strong resistance point in the event of a rise 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 $150.67 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 150.67 – 144.35 – 138.73
Resistances 163.80 – 171.82 – 181.75
DOGE/USDT
DOGE price continued to move sideways. As of now, it saw resistance from the ceiling of the downside pennant pattern and fell slightly. If it breaks here, the 0.21154 dollar level can be triggered. If the retracement continues, the $0.16686 level may be triggered. On the 4-hour chart, the 50 EMA (Blue Line) continues to be below the 200 EMA (Black Line). This shows us that the asset is bearish in the medium term. The fact that the price remains below the two moving averages suggests that the asset may continue to trend lower in the short term. The Chaikin Money Flow (CMF-20) indicator is at a neutral level. In addition, positive money inflows may move CMF into positive territory. Relative Strength Index (RSI-14) continues to be in negative territory. At the same time, it continued to be above its uptrend that started on May 31. This may continue the uptrend. The $0.19909 level stands out as a strong resistance zone in the rallies that may be experienced in line with political developments, macroeconomic data or positive news flow in the DOGE ecosystem. In the opposite situation or possible negative news flow, the $0.16686 level may be triggered. In case of a decline to these levels, the increase in momentum may start a new bullish wave.
Supports 0.18566 – 0.17766 – 0.16686
Resistances 0.19909 – 0.21154 – 0.22632
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