Technical Analysis
BTC/USDT
Although there was no official announcement in the trade talks between China and the US in London, it was announced that an agreement was reached in principle. While digital asset regulations gained momentum in Washington, the CLARITY bill moved to the House of Representatives. On the other hand, Bitcoin investments are expanding on the corporate front: GameStop bought another 4,710 BTC, while American Bitcoin (ABTC), backed by the Trump family, accumulated 215 BTC. Michael Saylor added a new one to his predictions by saying that Bitcoin will reach $1 million. Critical US CPI data will be released today, and on the other hand, eyes will be on the possible official announcement of the negotiations.
When we look at the technical outlook with the latest developments, it is seen that BTC continues to push the 110,000 level with the rally it started after the falling trend structure. In the previous analysis, we stated that the 109,000 level in BTC price was critical and that the price could drop below this level. As a matter of fact, as a result of the increased volatility with the opening of the US stock markets yesterday, BTC fell to 108,400 and realized a short-term liquidity purchase. With the rapid recovery following this decline, the price began to consolidate, forming a band in the range of 109,000 – 110,000. The fact that the price shows downward spike movements can be considered as a positive signal for the continuation of the upward movement.
Technically, it is observed that the wave trend oscillator continues to give a sell signal in the overbought zone, while the momentum indicator weakened slightly after gaining momentum. It is noteworthy that pricing continues above the Kaufman moving average. Although technical indicators do not offer a clear basis for bullishness at the moment, the aforementioned economic data to be released today may increase volatility and trigger new price movements.
According to liquidation data, the 105,000 – 106,000 band stands out as a strong buying liquidity area. A test of this area may be followed as a reference for the price to resume its upward movement. On the other hand, the fact that there are less selling positions at the ATH level suggests that the price may encounter resistance on a possible rise to this level and we may see a correction. Resistance in this area and a possible rejection should also be carefully monitored for reversal opportunities.
Supports 109,000 – 107,300 – 106,000
Resistances 110,000 – 111,000 – 111,970
ETH/USDT
After rallying as high as $2,833 yesterday evening when Metaalpha bought 48.45 milyon dollar worth of ETH, ETH price faced selling pressure in the region and retreated to $2,780 on news that the Federal Court of Appeals suspended the ruling blocking Trump’s tariff authority. While this price action clearly demonstrates the impact of news-driven volatility on the market, technical and on-chain indicators also point to increased downside risks in the short term.
An analysis of Cumulative Volume Delta (CVD) data shows that there is an intense selling pressure on the spot market and this pressure may continue to have a downward impact on the price in the short term. In particular, this structure, where buyers remain weak and sellers are more dominant, signals that the decline may continue.
Volume-based technical indicators show a similar pattern. The On Balance Volume (OBV) indicator failed to accompany the price’s recent rally and showed negative divergence, forming a lower high compared to the previous peak. This suggests that the uptrend lacks a healthy and strong volume support, confirming that the market’s belief in upside movements remains weak.
The Chaikin Money Flow (CMF) indicator is similarly generating a negative signal. The fact that CMF broke the uptrend in the positive zone and headed down indicates that net capital outflows from the market have started and the selling trend on the liquidity side has increased. This development supports that investors tend to be risk averse and that the uptrend is far from being permanent.
On the other hand, the ichimoku indicator is still positive and the overall cloud structure remains supportive. This suggests that despite the short-term weakness, the overall trend is not yet broken, but the loss of momentum is a serious warning.
When all these technical and on-chain data are evaluated, the possibility of continuing downward movement in ETH price during the day is at the forefront. In particular, the $2,736 level stands out as a critical support point in the short term. If this level is broken downwards, the possibility of deepening the decline and the formation of more drastic price movements may strengthen. On the other hand, if it can be maintained above the $2,857 level, this region can be considered as an upward break and a technical backdrop that will support the price to rise to $3,060. Therefore, price reactions at both support and resistance levels should be closely monitored in the short term.
Top of Form
Below the Form
Supports 2,736 – 2,533 – 2,254
Resistances 2,857 – 3,062- 3,246
XRP/USDT
XRP has been pricing in a narrow band between $2.32 and $2.27 for some time. While this tight structure reflects the indecision of the market, uncertainty continues as there has not yet been a clear breakthrough in direction. Technical indicators support this indecisive structure by producing both upward and downward signals.
The Chaikin Money Flow (CMF) indicator continued its upward trend in the positive territory, indicating that liquidity inflows to the market continue and investor interest is in the direction of buying. This can be considered as a constructive factor that supports the potential for an upside breakout in the current sideways movement. However, despite this positive signal, the fact that the Relative Strength Index (RSI) indicator remains below the based MA line and shows a downward trend reveals that there is weakness on the momentum side and the strength of buyers remains limited. This downward structure in the RSI stands out as an important signal of weakness that suppresses the potential for the price to move upwards.
In addition, the downside breach of the Tenkan level is another technical element that can be considered on the negative side. This breach suggests that short-term trend indicators are starting to generate downward signals and the market balance may be disrupted.
Such mixed technical signals suggest that the current price squeeze has not yet resulted in a directional preference and it would not be healthy to make a clear trend forecast before the breakout occurs.
In this context, closures below the $2.27 level could pave the way for increased downward pressure for XRP and a continuation of the downward movement. In this scenario, the possibility of retesting support levels may come to the fore. On the other hand, if there is a persistence above the $2.32 level, this range can be considered to be broken to the upside and can be interpreted as the beginning of an upward trend. Therefore, price behavior and especially closing levels within this narrow band will be decisive in determining the short-term direction.
Supports 2.2154 – 2.0841 – 2.0402
Resistances 2.3928 – 2.4765- 2.5900
SOL/USDT
The SEC has asked potential Solana ETF issuers to update their S-1s. The updates could put Solana ETFs on track for approval in the next few months.
SOL price continued its uptrend. The asset managed to break the strong resistance at $163.80 and stay above this level. If the upward momentum continues, it may test the $171.82 level as resistance.
On the 4-hour chart, the 50 EMA continued to be below the 200 EMA. This suggests that the bearish trend may continue in the medium term. At the same time, the fact that the price is above both moving averages suggests that the market is currently bullish in the short term. Chaikin Money Flow (CMF-20) continues to be in positive territory; in addition, an increase in daily inflows could push CMF above the positive zone. Relative Strength Index (RSI-14) continued to be in positive territory. It also managed to stay above the uptrend that started on June 5. This could keep the uptrend going. On the other hand, being in the overbought zone may bring profit sales. This could trigger a pullback. In case of an uptrend on the back of macroeconomic data or positive news on the Solana ecosystem, the $171.82 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, may retest the $150.67 level. In case of a decline to these support levels, the increase in buying momentum may offer a potential bullish opportunity.
Supports 163.80 – 150.67 – 144.35
Resistances 171.82 – 181.75 – 189.54
DOGE/USDT
DOGE price continued its uptrend. The asset, which gained momentum from the uptrend that started on June 6, is currently testing the 200 EMA (Black Line). If it breaks here, the strong resistance level of $ 0.21154 should be followed.
On the 4-hour chart, the 50 EMA (Blue Line) continues to be below the 200 EMA (Black Line). This suggests that the asset is bearish in the medium term. The fact that the price is between two moving averages indicates that the asset is in the decision-making phase in the short term. The Chaikin Money Flow (CMF-20) indicator continued to be in positive territory. In addition, negative inflows may move CMF into negative territory. Relative Strength Index (RSI-14) is in positive territory. At the same time, it continued to be above the uptrend that started on June 6. This may ensure the continuation of the uptrend. However, being in overbought territory may trigger profit sales. The $0.21154 level stands out as a strong resistance zone in the 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 $0.18566 level may be triggered. In case of a decline to these levels, the increase in momentum may start a new bullish wave.
Supports 0.18566 – 0.17766 – 0.16686
Resistances 0.19909 – 0.21154 – 0.22632
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.
