TECHNICAL ANALYSIS
BTC/USDT
As Bitcoin Pizza Day celebrates its 15th anniversary, the two pizzas purchased for 10,000 BTC are now worth $1.1 billion. This symbolic transaction, the first real-world use of Bitcoin, is commemorated with enthusiasm by the crypto community every year. On the other hand, the political agenda in the US is also witnessing developments closely related to crypto: Trump’s tax cut bill moved to the voting stage in the House of Representatives, while the GENIUS stablecoin bill advanced to the amendment stage with 69 votes in the Senate. While Bitcoin is moving the ATH level upwards, today, eyes will be on the invitation to Trump’s own meme token on the US front, and it can be expected to make a special share for this day.
Looking at the technical outlook, it is seen that BTC, which tested the 109,500 ATH level we mentioned in yesterday’s analysis, experienced a sharp retracement by pinning the 106,000 level. After this correction, BTC, which regained demand, gained momentum in a short time and moved the ATH level to 111,800. Surpassing the 105,000 level after a prolonged consolidation, supported by the golden cross structure formed on the daily chart, although the technical structure gave indecisive images from time to time, played an important role in the recent rally. By the end of May, BTC had become one of the top earning assets of the month, up nearly 17%. The main catalysts for this rise were the positive trend in ETF flows, the clarification of regulatory processes, the increase in institutional purchases and governments’ compliance with cryptocurrency regulations. In particular, US President Trump’s frequent reiteration of his support for the crypto market encouraged individual investors and small-scale companies to add BTC to their balance sheets. In addition to all these optimistic developments, the Fed’s monetary policy easing makes it more likely that BTC will reach new ATH levels in the medium term. However, at these levels, where the technical structure is overheated and oscillators are saturated, short-term corrections should be considered healthy. The weakening of the prominent support and resistance areas on the chart may bring harsh and volatile fluctuations in price movements. In this direction, the 111,800 level will be monitored as resistance in a new upward bullish wave. If this level is exceeded, it is seen as the only obstacle for the start of new price discoveries. On the other hand, in a possible profit sale or liquidity cleansing, 108,000 will be followed as the first support level in the short term. A pullback towards this area could be technically supportive for the price to consolidate and regain momentum.
Supports 110,000 – 109,400 – 108,000
Resistances 111,800 – 115,000 – 120,000
ETH/USDT
ETH tested an important technical level yesterday evening amid high volatility. Although it dipped below the $2,533 support, it rebounded with support from the lower band of the kumo cloud on the ichimoku indicator and soon rose above the $2,533 level. After this recovery, it not only regained the lost level but also managed to maintain its uptrend by breaking out of the kumo cloud. This move, along with the price breaking both the Tenkan and Kijun levels on the ichimoku indicator to the upside and then settling above the kumo cloud, points to a continuation of positive technical structure.
However, in terms of indicators, the picture is complex. The Chaikin Money Flow (CMF) indicator does not fully accompany the upward movement of the price. The pullback, especially as of the last candle, reveals that the money entering the market remains limited and the appetite on the buying side has not yet come into play strongly. This suggests that caution should be exercised in terms of bullish persistence. On the other hand, Relative Strength Index (RSI) continues to generate positive signals regarding momentum by continuing its upward movement steadily. The upward trend of the RSI stands out as an important factor supporting the recovery in the technical outlook.
In the general outlook, the possibility of the continuation of the positive trend may strengthen if the price does not sag under the kumo cloud and especially if it maintains above the $2,533 level. In this scenario, the price can be expected to test the $2,799 resistance in the first place. However, a downward violation of the boundaries of the kumo cloud, especially a close below the $2,533 level, could weaken the current positive structure, leading to increased selling pressure and deepening declines.
Supports 2,533 – 2,254 – 2,029
Resistances 2,799 – 3,062- 3,246
XRP/USDT
XRP attracted attention yesterday by exhibiting a very volatile price movement during the day. The price, which rose to the kumo cloud level in the ichimoku indicator with the short-term rise, fell to $ 33 support with the selling pressure it faced here. XRP, which tried to recover again with the reaction it received from this level, once again rose to the lower band of the kumo cloud, but was rejected by failing to persist in this region. As of now, the price is trying to hold on to the $2.39 support. When the short-term technical structure is analyzed, it is seen that the price is in search of direction, but staying below the cloud level indicates that the current pressure continues.
On the indicators side, a mixed picture draws attention. In particular, the Chaikin Money Flow (CMF) indicator, which has been in the negative zone for a long time, has risen to positive territory, indicating that money has started to enter the market again and this development can be considered as a positive signal in terms of the medium-term outlook. However, despite this positive development, the Relative Strength Index (RSI) indicator continues to display a weak outlook. The failure of the RSI to gain upward momentum suggests that momentum remains limited and the price is in a weak recovery process. This suggests that bullish moves have yet to find a strong footing and that buyers are still unable to take a dominant role in the market.
The fact that the price continues to remain below the kumo cloud on the ichimoku indicator is another factor that reveals the weakness of the technical structure. Closures below the cloud level reveal that confidence among market participants has not yet been established and bullish attempts remain limited. In this context, closures during the day, especially above the lower band of the kumo cloud at the $2.42 level, may pave the way for the price to gain upward momentum and the short-term trend to turn positive. Otherwise, pricing that persists below the $2.39 level could lead to a retest of the $2.33 support and possibly a deeper correction process.
Supports 2.2154 – 2.0841 – 2.0402
Resistances 2.3928 – 2.4765 – 2.5900
SOL/USDT
Canary presented an updated version of its spot SOLANA ETF S-1 application. Solana Mobile announced plans to launch its own token, SKR, and introduce its decentralized architecture called TEEPIN. Marinade Labs launched its enterprise staking platform for Solana.
SOL price continued its uptrend. The asset managed to break the downtrend that started on May 13 with a voluminous candle and rallied by about 4.62%. Testing the 50 EMA (Blue Line) as support, the price may accelerate from there and break the trend ceiling and the strong resistance at $171.82 and test the $181.75 level as resistance. On the 4-hour chart, the 50 EMA (Blue Line) continued to hold above the 200 EMA (Black Line). This suggests that the uptrend may continue in the medium term. Moreover, 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 could move CMF to the middle of the positive zone. Relative Strength Index (RSI-14) is in positive territory and has remained above the uptrend that started on May 17. This indicates an increase in buying pressure. In the event of an uptrend due to 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 continues to be bullish. The asset tested the ceiling of the descending triangle pattern, which started on May 11, with support from the 50 EMA (Blue Line) during the day and broke the triangle pattern upwards. If the rise continues, the resistance level of 0.25025 dollars 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, a slight increase in inflows may keep CMF in positive territory. Relative Strength Index (RSI-14), on the other hand, remained in positive territory and is above the uptrend that started on May 17. This indicates that buying pressure continues. However, negative divergence should be monitored. The $0.25025 level stands out as a strong resistance zone in 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 momentum may increase and a new bullish wave may start.
Supports 0.22632 – 0.22632- 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.
