TECHNICAL ANALYSIS
BTC/USDT
With the recent rise, Bitcoin’s market capitalization reached $2.04 trillion, surpassing Amazon and becoming the fifth most valuable asset in the world. Following the rally in Bitcoin as concerns over tariffs eased, eyes turned to Fed members today. Vice President Barr stated that Trump’s trade policies could put pressure on inflation and growth, while Governor Kugler emphasized that the economy is still resilient. Another important data for the future of Bitcoin came from the options market. The increase in institutional demand for options at $140,000 and above on Deribit is quite remarkable. On the other hand, tomorrow all eyes will be on the US-China talks and we can expect a volatile weekend.
When we look at the technical outlook, it is seen that BTC has taken some respite by entering the consolidation process after its last rally. The price, which tested the 104,000 level for the second time during the day, was rejected once again from this level. BTC, which was trading at 103,000 at the time of writing, is seen to be giving a sell signal as the wave trend oscillator reached the overbought zone. If the bearish trend continues in Mometum indicators, the price can be expected to form a flag pattern. However, while US futures are positive, liquidation data looks very weak on the sell side. Although BTC needs a technical correction, the main determining factor will be the course of negotiations on tariffs. If the negotiations are unfavorable, the current uptrend may break and BTC may fall below the 100,000 psychological level. On the other hand, if a compromise is reached in line with expectations, the fundamental side will again become a strong catalyst for BTC and may pave the way for the price to head towards new ATH levels. Neutral messages from the parties or a second phase of negotiations could create uncertainty in the market and make a technical correction inevitable.
Supports 102,400 -101,400 -100,000
Resistances 104,200 – 106,000 – 107,000
ETH/USDT
ETH displayed a strong uptrend during the day, breaking the important resistance at $2,254 and climbing as high as $2,490 as buying accelerated. After this upward movement, the price retreated to around $2,350 amid profit selling. This correction shows that short-term investors are taking advantage of the rise to realize their positions. Technical analysis indicators generally indicate that there is still a strong buying pressure on the market, but some indicators point out that the overbought zone has entered.
The Chaikin Money Flow (CMF) indicator reached its highest positive value since May last year, indicating that there has been an intense capital inflow into the market. However, with the recent correction, the CMF value started to decline, suggesting that the market is taking a short-term breather and investors are turning to profit realization. This development suggests that the pullback in prices may be a temporary correction due to technical saturation rather than structural weakness. The Relative Strength Index (RSI) indicator also remains in the overbought zone amid this sharp rally. While this suggests that the market still has a strong positive momentum and that buyers are in control, a prolonged stay at these levels usually signals an increasing probability of a correction. Therefore, the possibility of some pullback in the short term should not be ruled out. However, the structure of the ichimoku indicator is also remarkable. In particular, the fact that the kumo cloud continues to rise with the price suggests that the uptrend is technically supported and that prices remain in positive territory overall. This can be interpreted as an important technical signal that the market remains structurally bullish.
As a result, while the overall outlook of technical indicators still points to an upward trend, the overbought conditions in the market increase the risk of a short-term correction. In this context, the $2,254 level stands out as a critical support in possible pullbacks. In case the price approaches this level or dips below it for a short period of time, it seems likely that new buying opportunities will arise and the upward momentum will regain momentum.
Supports 2,254 – 2,131 – 2,029
Resistances 2,533 – 2,799 – 3,062
XRP/USDT
As mentioned in the morning analysis, XRP rose strongly with positive signals from technical indicators, reaching as high as $2.39. Although this critical resistance was momentarily tested above, the subsequent profit realizations and selling pressure caused the price to sag below this level again. Currently, XRP is struggling to hold at the $2.39 level, which is a critical threshold for the short-term technical outlook.
A detailed review of technical indicators reveals that the bullish trend is not only supported by price, but also structurally. The Chaikin Money Flow (CMF) indicator remains in positive territory, indicating increased liquidity entering the market, suggesting continued investor interest and strong fundamentals underpinning the bullish move. Likewise, the Relative Strength Index (RSI) indicator and the momentum indicator also maintain their upward bias, lending technical confidence to the price action. The fact that the RSI is currently hovering near the overbought zone increases the possibility of a correction in the short term, but the overall outlook remains positive in terms of the current technical structure.
In this context, the persistence of the XRP price above the $2.39 level during the day will be an important indicator for the continuation of the uptrend. In this scenario, a gradual rise towards the price’s next target of $2.47 seems likely. On the other hand, closes below the $2.39 level could trigger a correction, especially considering the RSI indicator’s position in the overbought zone.
Supports 2.2154 – 2.1204 – 2.0201
Resistances 2.3928 – 2.4765 – 2.8347
SOL/USDT
Solana announced a plan to rival traditional centralized exchanges such as Nasdaq and NYSE as a driver for on-chain stock/equity issuance by public companies.
The SOL price continued its uptrend during the day. The asset broke the downtrend that started on April 25 to the upside and is currently testing the strong resistance at $171.82. 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. At the same time, the fact that the price is above both moving averages suggests that the upside potential of the overall market is strong. Chaikin Money Flow (CMF20) is hovering in positive territory; in addition, an increase in daily inflows may push CMF to the upper levels of the positive zone. Relative Strength Index (RSI14) is in overbought territory. This could trigger profit selling and cause a pullback. At the same time, bearish divergence should be monitored. The $171.82 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 $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 171.82 – 163.80 – 150.67
Resistances 181.75 – 189.54 – 200.00
DOGE/USDT
The DOGE price continued its uptrend and broke the resistance level of the uptrend that started on April 9, testing the strong resistance level of $0.21154 from where it is currently retreating. 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 has an upward trend in the short term. The Chaikin Money Flow (CMF20) indicator is in the middle levels of the positive zone. However, a decline in inflows may cause CMF to test the uptrend that started on March 5 as support. Relative Strength Index (RSI14), on the other hand, continued to be above the uptrend that started on May 6 and managed to hold on to the overbought level. However, the overbought area may trigger profit sales and cause the price to retreat. The $0.21154 level stands out as a strong resistance zone in the event of a rally 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 $0.18566 level may be triggered. In case of a decline to these levels, the increase in momentum may start a new bullish wave.
Supports 0.19909 – 0.18566 – 0.17766
Resistances 0.21154 – 0.22632 – 0.25025
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