TECHNICAL ANALYSIS
BTC/USDT
While the data on the US economy has given positive signals both on the inflation and budget side, the long-term orientation in trade policies is also becoming clearer. The record budget surplus of 258 billion USD in April was supported by strong tax collections and record revenues from import tariffs. Accordingly, Consumer Price Index (CPI), which came in below expectations at 2.3% yoy, signaled an easing in inflation. Despite the upbeat data, interest rate cut expectations for September exceeded 50%, up from 34.2% in July. With interest rate cut expectations returning to July after the latest data, it may provide activity in the markets in the summer months. In the rest of the day, a positive mood in the US futures market can be expected to be reflected in ETF data.
Looking at the technical outlook, BTC reversed course after yesterday’s correction and settled above 103,000. The technical structure is signaling a recovery. The Wave trend oscillator is generating a buy signal above the mid-band again, while momentum indicators can be expected to support this outlook later in the day. As BTC’s consolidation process continues, the 4-hour doji candle formed by the limited reaction after the inflation data draws attention. If this pattern breaks to the upside, it could trigger a move that could take the price towards the historical peak (ATH) levels if 105,000 resistance is passed. When we look at the liquidation data, we see that there were short positions concentrated at 106,000 in the last 24 hours. This level stands out as a potential liquidity target and supports an upside breakout scenario. However, in case of a possible pullback, 102,350 support level will be followed as the first reference point. If this level is broken, the possibility of a deepening of the short-term correction may increase.
Supports 102,350 -101,400 -100,000
Resistances 104,200 – 106,000 – 107,000
ETH/USDT
ETH met the expectations of technical analysis by rising to the resistance point at $2,533 as expected during the day. With the upward break of this level, price movements are expected to gain momentum and continue the uptrend. In particular, the fact that this movement is supported by technical indicators indicates that the rise is progressing on a healthy ground.
The Chaikin Money Flow (CMF) indicator continues to remain in positive territory, indicating that interest in the market continues and buyers are still strong. This indicates that the risk appetite of market participants has increased and capital inflows to ETH have continued. On the other hand, the upward movement observed in momentum indicators suggests that the current uptrend is gaining technical strength and momentum continues to be maintained. The momentum holding in positive territory suggests that the price action is not just a temporary bounce but a more structural uptrend. ETH price broke through the Tenkan level, one of the short-term components of the Ichimoku cloud, and settled above it, another confirmation signal that the market is turning upwards. This development supports that the short-term technical outlook remains positive and the upside potential is alive. In particular, closes above the $2,533 level for the rest of the day could pave the way for new waves of technical buying and pave the way for the price to move towards higher resistance levels.
However, a possible profit realization or a sudden change in market conditions that may occur after this level is exceeded may cause the price to be rejected from this region again and short-term pullbacks may occur. In such possibilities, it will be important for investors to carefully monitor support levels and dynamically update their strategies depending on volume movements. In general, with the upside crossing of the $2,533 level, ETH’s technical outlook continues to improve, and a scenario in which the upside potential is preserved stands in the foreground.
Supports 2,533 – 2,254 – 2,029
Resistances 2,799 – 3,062- 3,246
XRP/USDT
The XRP price rose slightly during the day in line with the positive signals offered by technical indicators, reaching the level of $2.54. While the technical structure highlighted in the analysis made in the morning hours remains largely valid, the current outlook confirms that the short-term upward trend continues. In particular, the fact that technical indicators continue to gain strength supports the momentum behind the price action.
The Chaikin Money Flow (CMF) indicator remains in positive territory, indicating that there are still net capital inflows in the market and buyers remain active. This suggests that the overall market sentiment remains in favor of XRP and investor interest continues. On the other hand, the Relative Strength Index (RSI) moved above the Based Moving Average (MA) line, indicating that the upside momentum is healthy and structural. This movement in the RSI is a technical signal that the uptrend may not just be a short-term reaction but the start of a stronger trend. In terms of the Ichimoku cloud indicator, the fact that XRP price surpassed the Tenkan level again shows that the short-term positive trend is maintained and the price action is technically supported. This development shows that the search for short-term direction is shaping upwards and the market structure is in favor of buyers.
In light of this technical outlook, the possibility of the price retesting the important resistance point at the $2.59 level in the evening seems quite strong. Breaking this level with a voluminous breakout may pave the way for the upward movement to gain momentum and the price to head towards higher resistances. However, in terms of the sustainability of the upward movement, it is critical for the price to maintain the important support point at the $2.47 level. If this level is violated downwards, the positive technical structure may weaken and the price may enter a correction trend.
Supports 2.4769 – 2.3928 – 2.2154
Resistances 2.5900 – 2.8347 – 3.0756
SOL/USDT
SOL Strategies, a Canadian publicly traded company, has partnered with Australian blockchain firm DigitalX to offer institutional Solana staking services.
SOL price was bullish during the day. The asset accelerated at the base level of the ascending triangle pattern, gaining about 4.68% and advanced to the middle level of the triangle. If the triangle breaks the ceiling level, the uptrend may continue. Otherwise, a retracement to the $ 163.80 level may occur. On the 4-hour chart, the 50 EMA (Blue Line) continued to stay above the 200 EMA (Black Line). This indicates that the upward trend may continue in the medium term. However, the gap between the two moving averages is too wide, which could lead to a pullback. In addition, the fact that the price is above both moving averages indicates that the upside potential of the overall market is strong. Chaikin Money Flow (CMF-20) is in negative territory; in addition, a decline in daily inflows could push CMF deeper into negative territory. Relative Strength Index (RSI-14), on the other hand, fell from the overbought zone to the mid-level of the positive zone. At the same time, it remains below the downtrend that started on May 9. This may 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 $ 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
According to Tokenomics data shared by WuBlockchain, approximately 96.52 million DOGE will be linearly unlocked from May 12 to May 19.
DOGE price was slightly higher during the day. The asset, which tested the base level of the descending triangle pattern downwards, was found inside the triangle pattern again with support. It is currently testing the ceiling level of the descending triangle pattern as resistance. If it breaks up here, it may continue its rise. Otherwise, retracements may deepen. 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 shows us that the asset has an upward trend in the short term. However, a large gap between the two moving averages may cause a pullback. Chaikin Money Flow (CMF-20) indicator is in negative territory and remains below the downtrend that started on May 10. In addition, a decline in inflows could push CMF deeper into the negative territory. The Relative Strength Index (RSI-14) remains below the downtrend that started on May 10. It is currently testing the downtrend as resistance. If it fails to break it, it may cause pullbacks. The $0.25025 level stands out as a strong resistance zone in the uptrend that may be experienced 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 0.22632 – 0.21154 – 0.19909
Resistances .25025 – 0.28164 – 0.30545
LEGAL NOTICE
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.
