Technical Analysis
BTC/USDT
Trump argued that the US is ahead of China in the field of cryptocurrency and stated that he supports this technology with “great admiration”. On the other hand, Trump stated that he sees artificial intelligence as the strategic power of the future and emphasized that investments in these areas will continue. While these statements show that Trump’s technology-oriented approach to economic policy continues, it was reported that the tax cut bill is progressing along party lines in the House of Representatives. The President also hinted that there could be an important development regarding the Russia-Ukraine conflict during the day.
When we look at the technical outlook, BTC, which managed to hold above 103,000 during the day, is seen to have risen above 104,000 after Trump’s statements. In BTC, which is still moving in the consolidation process in the horizontal band range, the fact that the wave trend oscillator turned the sell signal back to a buy signal shows that there is once again a favorable ground in terms of technical structure. If momentum indicators confirm this signal, BTC price may see an upward acceleration again. In this process, the selling liquidation area, especially above the 105,000 level, increases the likelihood that the price will realize a liquidity purchase towards this level. Technically, the critical threshold for a new ATH attempt will be the hourly closes above the 105,000 level. While this breakout has the potential to extend the price technically upwards, Powell’s statements tomorrow will be the determining factor on the fundamental side as to whether this movement will continue. In this direction, the 105,000 level will be the main resistance to be followed for technical breakout and new peak attempt, while the 102,400 level will continue to be followed as the first support in a possible retreat.
Supports 102,350 -101,400 -100,000
Resistances 104,200 – 106,000 – 107,000
ETH/USDT
The ETH price experienced a slight pullback during the day and with this movement, it fell to the $2,580 region, which corresponds to the tenkan level. However, with the purchases from this level, the price reacted upwards again and managed to rise above the $2,600 level. Despite this price movement during the day, no significant change was observed in the general structure of technical indicators. Indicators continued to maintain their current trends.
A detailed analysis of the technical indicators showed that the Chaikin Money Flow (CMF) indicator crossed into negative territory during the decline, but as the price recovered, this indicator regained the positive territory and continued its upward trend. This confirms that liquidity inflows to the market are continuing and the buy side is regaining strength. In particular, this type of CMF structure suggests that the market is digesting the short-term negative momentum and regaining its balance in the direction of buying. The Relative Strength Index (RSI), on the other hand, is still moving above the based MA line, although it has continued to retreat gradually since the price’s most recent high. This suggests that the current correction in the RSI is part of a healthy consolidation process and that the indicator maintains its overall positive nature. The RSI’s continued position above the MA suggests that momentum-maintaining buying interest is still in play and that the price still has the potential to test higher levels.
When all these data are evaluated together, if the ETH price continues to stay above the tenkan and kijun levels, there is a strong possibility of an upward acceleration in the evening hours with the support of positive structures in technical indicators. However, in order for this positive scenario to remain valid, it is critical to maintain the tenkan level at $2,580 and more importantly the main support zone at $2,533. In the event of a decline below these levels, the technical structure may deteriorate and as a result, more significant declines may become possible with deepening selling pressure.
Supports 2,533 – 2,254 – 2,029
Resistances 2,799 – 3,062- 3,246
XRP/USDT
After breaking through the resistance zone at the $2.59 level in line with expectations, the XRP price continued its rise and accelerated to the $2.65 level. However, the short-term correction trend generally observed in the cryptocurrency market was also effective on XRP, and the price fell back to the $2.60 level again, experiencing a limited pullback. This pullback is currently considered as a natural correction after the rise rather than a technical weakening.
Looking at the technical indicators, it is noteworthy that the Chaikin Money Flow (CMF) indicator is still in positive territory and continues its upward movement. This structure indicates that despite the price pullback, buyers remain active in the market and intra-market liquidity inflows continue. Moreover, the fact that the CMF indicator is rising while the price is simultaneously declining suggests that the selling pressure on the market is mostly caused by short positions and that these positions have started to gain weight. Such a divergence suggests that the market structure is shaped by short-term speculative trades and that the buying bias is still strong. On the Relative Strength Index (RSI) side, there is a balanced outlook. The indicator continues to remain above the 60 level, pointing to a strong momentum structure. However, a slight weakening trend in the indicator suggests that there may be a short-term slowdown in momentum-based buying power. This may indicate that the price may consolidate for a while to gain new momentum; however, as the RSI is still in positive territory, there is no serious deterioration in terms of the overall technical outlook.
In general, the persistence above the resistance zone at the $2.59 level and the positive structure in technical indicators indicate that the XRP price may exhibit an upward movement again in the evening hours. However, a weakening in the technical outlook may occur if it sags below the $2.59 level, which may cause the price to gradually retreat to the $2.53 level.
Supports 2.5900 – 2.4769 – 2.3928
Resistances 2.8347 – 3.0756- 3.3606
SOL/USDT
The Solana co-founder called for the creation of a Meta-Block chain that takes data availability into consideration. Solana trading bots have generated $1 billion in revenue.
SOL price moved sideways during the day. Although the asset tested the ceiling of the uptrend twice, it failed to break it and retreated to the bottom of the trend. The price picked up momentum from here, rose and currently encountered resistance at the mid-level of the trend at $181.75. If it breaks here, it could test the upper level of the uptrend. 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 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 decrease in daily inflows could push CMF deeper into negative territory. Relative Strength Index (RSI-14) fell from the overbought zone to the mid-positive zone and is currently below the downtrend that started on May 9, suggesting selling pressure. The $189.54 level stands out as a strong point of resistance 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
DOGE price moved sideways during the day. The asset tested the ceiling of the downtrend that started on May 11 as resistance and failed to break it, resulting in a slight pullback. This downtrend has also formed a flag pattern. If it breaks to the upside, there could be a rise of about 45%. Otherwise, the 50 EMA (Blue Line) should be followed as support. On the 4-hour chart, the 50 EMA (Blue Line) continued to hold 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 in negative territory but continued to be above the downtrend that started on May 10. In addition, a decline in money inflows may push CMF deeper into the negative territory. Relative Strength Index (RSI-14), on the other hand, broke the downtrend that started on May 10 to the upside and remained in the middle levels of the positive zone. The $0.25025 level stands out as a strong resistance zone in case of a possible rise 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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