TECHNICAL ANALYSIS
BTC/USDT
In the statement published as a result of the compromise between the US and China on tariffs, the US reduced its tariffs on China from 145% to 30% in response to China’s suspension of the 24% tariff for 90 days. Another expected development during the day came from Strategy. Strategy bought 13,390 BTC in just one week, bringing its total Bitcoin holdings to 568,840. Later in the day, while US futures are positive, it may bring upward pricing again with the opening of the US stock markets.
When we look at the technical outlook, BTC price tested the 105,800 level with the effect of the news announced in the morning. However, the price, which could not persist at this level, returned to the band range where it consolidated again. The Wave trend oscillator is once again generating a sell signal after this rise, while momentum indicators continue to weaken. BTC, which has encountered similar technical structures in the last month, has seen upward breakouts with the recovery of technical indicators after the consolidation process that comes with low volatility each time. It is noteworthy that this structure is currently re-forming and the price is moving in line with a similar scenario. In this case, BTC has the potential to move towards the all-time high (ATH) of $109,400 if the technical structure gains strength once again and makes a new upward rally with the support of fundamental developments. The market’s focus will now shift to macroeconomic data from the US and expectations for a rate cut, especially now that the positive news flow on tariffs is largely complete and uncertainty has been removed. Such an optimistic fundamental backdrop could be the necessary impetus for a new rally in a technically saturated market. In the opposite scenario, the possibility of a correction increases as the ongoing weakness in technical indicators is reflected in the price, and in this case, the 103,000 level will continue to be followed as a reference. In case of a loss of this level, 102,350 and then 101,400 dollar levels will be the next supports.
Supports 102,350 -101,400 -100,000
Resistances 104,200 – 106,000 – 107,000
ETH/USDT
ETH breached the $2,533 level during the day, trying to stay above this zone. This movement indicates that the market is trending upwards in the short term. Although there are some conflicting signals among technical indicators, the overall picture remains positive. In particular, maintaining the $2,533 level is critical for the uptrend to continue.
The Chaikin Money Flow (CMF) indicator has weakened and moved into negative territory after the price peaked around $2,600. This suggests that at these levels, some traders have turned to profit-taking and some money has exited the market. CMF turning negative usually signals a decrease in buying appetite, suggesting that the market is taking a breather at this point. On the other hand, the Cumulative Volume Delta (CVD) indicator shows that buying continues in spot markets. In other words, real buyers are still active in the market. However, more intense selling on the futures side suggests that some investors are cautious in the short term. This divergence reveals that the market has not made a definite decision on the direction, but buyers are still in the game. Relative Strength Index (RSI) is very close to the overbought zone and is following a horizontal trend at these levels. This shows that even though the overbought zone has been entered, there is no strong selling pressure yet and the price is trying to stabilize in this zone. This accumulation of RSI stands out as another signal that the positive outlook continues.
In summary, if ETH stays above the $2,533 level, it is possible that the bullish movement will continue. In this scenario, the $2,800 level will be followed as the next strong resistance. However, if the price dips below $2,533 and closes below this level, the possibility of a short-term correction may strengthen, taking into account the weakening signals in technical indicators.
Supports 2,533 – 2,254 – 2,029
Resistances 2,799 – 3,062- 3,246
XRP/USDT
XRP continued its upward movement, breaking through the important resistance at $2.47 in the morning hours and managed to rise above $2.55. This rise shows that the pressure on the buy side continues in the market and investors are expecting the price to reach higher levels. Positive signals from technical indicators during the day suggest that this upward trend may continue. Especially in the evening hours, if the price moves towards the next resistance zone at the $2.59 level and surpasses this level, it may be possible for the uptrend to gain further momentum.
The Chaikin Money Flow (CMF) indicator remains above the zero line and continues to trend upwards, indicating that inflows into the market are continuing. This suggests that investor interest is still strong and the current uptrend is supported by liquidity. Meanwhile, the Momentum indicator and the Relative Strength Index (RSI) also continue their upward movement. The increase in the Momentum indicator supports that the price action is gaining momentum and this uptrend may continue for a while.
As of the general outlook, there is a high probability that XRP will continue to rise in the evening hours. However, for this scenario to remain valid, it is important for the price to remain above the $2.47 level. This level is now acting as a support and if it breaks to the downside, the bullish momentum may weaken. In such a case, a short-term correction would be possible.
Supports 2.4769 – 2.3928 – 2.2154
Resistances 2.5900 – 2.8347 – 3.0756
SOL/USDT
SOL price continued its sideways trend. The asset is stuck inside the pennant pattern. Although it tested the pennant pattern’s ceiling level twice, it failed to break it and remained inside the pennant. If it breaks here, it may continue to rise. On the 4-hour chart, the 50 EMA (Blue Line) remained above the 200 EMA (Black Line). This suggests that the uptrend may continue in the medium term. However, the gap between the two moving averages is too wide, which may cause pullbacks. In addition, the fact that the price is above both moving averages suggests that the upside potential of the overall market is strong. Chaikin Money Flow (CMF-20) is in positive territory; in addition, an increase in daily inflows could push CMF above positive territory. Relative Strength Index (RSI-14), on the other hand, fell from the overbought zone to the middle of the positive zone. At the same time, it remains below the downtrend that started on May 9. This could trigger profit selling and cause a pullback. The $181.75 level stands out as a strong resistance point in the event of a rally 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 $171.82 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
According to Tokenomics data shared by WuBlockchain, approximately 96.52 million DOGE will be linearly unlocked from May 12 to May 19.
DOGE price moved sideways during the day. The asset, which is priced inside the descending triangle pattern, is currently testing the ceiling of the descending triangle pattern. If it breaks here, it may continue its rise. 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. However, a large gap between the two moving averages may cause a pullback. The Chaikin Money Flow (CMF-20) indicator is neutral and has broken the uptrend that started on May 4 to the downside. In addition, a decline in inflows could push CMF deeper into the negative territory. Relative Strength Index (RSI-14) has broken the uptrend that started on May 6. This may cause pullbacks. The $0.25025 level stands out as a strong resistance zone in the upside 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 0.22632 – 0.21154 – 0.19909
Resistances .25025 – 0.28164 – 0.30545
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