Technical Analysis
BTC/USDT
As the US Congress enters the final phase of regulations for the crypto market and stablecoins, it reported that the legislation is expected to be completed in June. The Blockchain Group raised new financing with a €63.3 million convertible bond issue. The company plans to buy 590 new Bitcoins and increase its assets to over 1,400. Today, eyes will be on the Bitcoin 2025 conference, and speakers at the event include prominent names such as President Trump’s son Donald Trump Jr and Artificial Intelligence Director David Sacks. In addition, the US Consumer confidence index and FOMC member Kashkari statements will be followed in the data set.
Looking at the technical outlook, BTC tested an all-time high (ATH) of 111,960, but failed to hold on to this level and fell to 106,600. BTC, which tested the 110,000 level several times in an effort to recover after this sharp pullback, failed to pass this level and performed liquidity cleaning with a pin to the 107,500 level. With this move, the short-term bowl pattern was broken and BTC started to form a falling minor trend structure within the major uptrend. The critical level for the upward movement to continue and test new highs is again 110,000. Closes above this level could pave the way for the uptrend to regain momentum. However, technical oscillators continue to generate sell signals for the time being. On the other hand, the recovery effort observed in momentum indicators may create a driving force for the price in the short term. When the liquidation data is analyzed, it is noteworthy that there is a heavy accumulation of buy positions at the 105,800 level. This strengthens the possibility of a liquidity cleanup in this region before a new bullish move of the BTC price. In a possible bearish scenario, while the 109,000 level remains important as the first support point, if this level is broken, the price is likely to make a move towards the 107,300 level. As a result, consolidation and fluctuations can be expected to continue in BTC unless there is a persistence above the 110,000 level. A breakout and momentum support with strong volume at this level is required for the uptrend to resume. Otherwise, the market may search for new support.
Supports 109,000 – 107,300 – 105,800
Resistances 110,000 – 111,960 – 115,000
ETH/USDT
ETH dipped below the important support zone at $2,533 last night, retreating to the lower band of the kumo cloud at $2,510. With buy orders at this level, the price turned upwards again and recovered to $2,600 in the morning hours.
In terms of technical indicators, the Chaikin Money Flow (CMF) indicator continued its upward momentum in the positive territory, indicating a strong liquidity inflow into the market. On the other hand, the fact that the Relative Strength Index (RSI) indicator also accompanied this upward movement and increased in value indicates that the bullish momentum is strengthening, which can be interpreted as buyers increasing their dominance in the market. In the evaluation of the Ichimoku indicator, the fact that the price made an upward breakout again without going below the kumo cloud and that this movement took place above the tenkan level reveals a positive technical structure. However, in order for this structure to generate a more clearly positive signal, the tenkan level needs to move upwards and move above the kijun level. Such an intersection would confirm that the short-term momentum has overtaken the medium-term trend indicator and provide an important structure for the sustainability of the uptrend.
As a result, the persistence of the price above the kijun resistance at $2,599 during the day may pave the way for continued upward movements in the short term. However, the $2,533 level is a critical support in both technical and psychological terms, and closures below this level may cause bearish scenarios to come back to the agenda. Therefore, although the current technical outlook is generally positive, it is of great importance to carefully monitor the level crossings, especially in the Ichimoku indicator, in order to confirm this positivity.
Top of Form
Below the Form
Supports 2,533 – 2,254 – 2,029
Resistances 2,799 – 3,062- 3,246
XRP/USDT
As predicted in yesterday’s evening analysis, XRP retreated due to weakness in technical indicators and fell to intermediate support at the $2.27 level. At this level, the price found temporary support as buyers stepped in, albeit limited.
When the technical indicators are analyzed in detail, the Chaikin Money Flow (CMF) indicator moved back into positive territory after approaching the zero zone with the recent decline, indicating that there is a serious liquidity flow at these levels and buyers are becoming active to hold the price. This outlook suggests that the appetite for buying in the short term has not yet completely disappeared and the price is trying to stabilize in this region. On the other hand, the Relative Strength Index (RSI) remains bearish, indicating that although the price is moving up, momentum remains weak and indecision still prevails in the market. This suggests that the upside may remain limited or a new wave of selling could potentially re-enter the market. In terms of the Ichimoku indicator, there is no positive reversal signal in the current outlook and the structure remains negative. The price is still trading below the cloud and unless a breakout above the tenkan and kijun levels occurs, this structure should be taken as a sign that the downtrend continues.
As a result, closures that may occur below the support of $2.27 during the day may deepen the decline and carry the price to $2.21 levels. This level is important in terms of both technical and short-term psychological support. On the other hand, if the price rebounds with the positive deviation observed in the CMF indicator and the continuation of liquidity flows, exceeding the tenkan resistance at the level of $2.31 may strengthen the upward momentum. In this scenario, an upward movement up to the kijun resistance at $2.37 may become possible.
Supports 2.2154 – 2.0841 – 2.0402
Resistances 2.3928 – 2.4765 – 2.5900
SOL/USDT
SBI Holdings, Ripple’s largest partner in Japan, announced a game-changing partnership with the Solana Foundation.
SOL price exhibited a bearish trend. The asset continues to accumulate in the band of $163.80 and $181.75. The price accelerated from the strong support level at $171.82 and is currently testing the 50 EMA (Blue Line) as resistance. It is also testing the uptrend that started on May 19 as support for the third time. If it breaks down here, the $ 163.80 level can be followed. On the 4-hour chart, the 50 EMA (Blue Line) remained above the 200 EMA (Black Line). This suggests that the bullish trend may continue in the medium term. Also, the fact that the price is between both moving averages indicates that the market is currently in the decision phase. Chaikin Money Flow (CMF-20) is in positive territory; in addition, a decline in daily inflows could move CMF into negative territory. Relative Strength Index (RSI-14) is in negative territory. It also broke the downtrend that started on May 23 to the upside and moved near the neutral level of the negative zone. In case of an uptrend on the back of macroeconomic data or positive news on the Solana ecosystem, the $181.75 level stands out as a strong resistance point. 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 171.82 – 163.80 – 150.67
Resistances 181.75 – 189.54 – 200.00
DOGE/USDT
DOGE price continued its sideways trend. The asset broke the uptrend that started on May 17 to the downside and lost its bullish momentum. The asset, which tested the uptrend as resistance, currently tested the 50 EMA (Blue Line) as resistance but failed to break it and remained below it. If it breaks here, the $0.25025 level can be followed. On the 4-hour chart, the 50 EMA (Blue Line) remained above the 200 EMA (Black Line). The fact that the price remains between both moving averages shows us that the asset is in the decision phase in the short term. The Chaikin Money Flow (CMF-20) indicator is in positive territory. In addition, positive money inflows may move CMF to the upper levels of the positive zone. Relative Strength Index (RSI-14), on the other hand, was in negative territory, indicating that selling pressure continued. The $0.25025 level stands out as a strong resistance zone in the case of possible rises 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 level may be triggered. In case of a decline to these levels, the increase in momentum may start a new bullish wave.
Supports 0.21154 – 0.19909 – 0.18566
Resistances 0.22632 – 0.25025 – 0.28164
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