Technical Analysis
BTC/USDT
Global markets experienced an increase in risk appetite this week amid easing trade tensions between the US and China. The announcement that the two countries would temporarily suspend tariffs softened the expectations of an economic slowdown and provided optimism. Subsequently, the lower-than-expected US CPI data supported the positive sentiment by easing concerns over the possibility of inflationary pressures. Despite the strengthening of the Fed’s hand for a rate cut, the pricing of the nearest rate cut in September maintains a cautious stance. In addition to all these developments, Trump continues to reiterate his support for the crypto market at every opportunity. Today, after the US PPI data, we will follow the statements of Fed chairman Powell.
When we look at the technical outlook, it continues to price in a horizontal band range within the rising trend. Yesterday, with the buy signal on our wave trend oscillator, the price, which pushed the 104,000 levels, could not stay above this level and started to give a sales signal by turning its direction down. BTC, which continues to consolidate on its seventh day above six-digit levels with low momentum, continues to trade just below the 102,350 support level. In order to maintain expectations for a rise and new ATH levels, it is necessary to wait for the price to hold above 101,400 support. While pricing above this level is seen as important for the price to maintain the horizontal band range, if it is lost, it may cause a downtrend within the uptrend. Today’s developments mentioned above will be decisive about the price’s search for direction in the medium term. Accordingly, volatile movements can be expected today. While there is a balanced distribution in liquidation data in the short term in the upward and downward direction, this situation reflects uncertainty, while ETF data continues its positive inflows. While the resumption of the rise supports the upward acceleration of the price with hourly closures in the 104,000 – 105,000 band range, 101,400 will continue to be followed as a critical support level.
Supports 102,350 -101,400 -100,000
Resistances 104,200 – 106,000 – 107,000
ETH/USDT
In parallel with the general retreat in the cryptocurrency market yesterday evening, ETH fell below the Tenkan level and then below the Kijun level, dropping as low as $2,565. This price action also led to noticeable changes in technical indicators.
In particular, the Chaikin Money Flow (CMF) indicator crossed into negative territory, indicating that liquidity outflows in the market accelerated and selling pressure prevailed. CMF’s downward trend suggests that investors tend to be risk averse and fresh money inflows to the market remain limited. Momentum is also showing signs of weakening. Relative Strength Index (RSI) retreated below the Based MA line, suggesting that upside momentum has faded and short-term weakness has deepened. This pullback in the RSI suggests that buying interest has weakened and market participants are cautious. Looking at the Ichimoku indicator, the fact that the price has broken below both Tenkan and Kijun levels suggests that risks have increased, especially in terms of the short-term outlook, and the market is inclined to test support levels. This suggests that the short-term direction is bearish and the market is yet to signal a strong recovery.
Considering the current technical structure, there is a possibility that the ETH price may retreat to the important support at $2,533 during the day. Since this level has been a zone where buyers have stepped in in the past, it is possible that the price may react here and start an upward movement again. However, it should be noted that if the 2,533 support is broken down, sales may deepen and the correction movement may spread to a wider area.
Top of Form
Below the Form
Supports 2,533 – 2,254 – 2,131
Resistances 2,799 – 3,062 – 3,246
XRP/USDT
As highlighted in last night’s analysis, XRP continued its downtrend overnight after losing its key support at $2.59 and is currently pricing around the Kijun line at $2.49. While this bearish move suggests that the market remains weak in the short term, some technical indicators do not fully accompany this pullback.
In particular, the Chaikin Money Flow (CMF) indicator is still in positive territory, indicating that inflows are continuing and buyers are still holding strong at current levels. This structure of CMF suggests that despite the sell-off, market participants have not lost interest in XRP and declines may remain limited. On the other hand, the Relative Strength Index (RSI) indicator dipped below the based MA line to around 50. This suggests that the upside momentum has started to weaken significantly and market dynamics are losing momentum in the short term. This pullback in the RSI suggests a reduction in buying power and bullish sentiment may remain limited for now. On the broader technical outlook, XRP is supported by the Kijun line at current levels, providing an important reference point in the short term. Moreover, the Ichimoku indicator shows that the price is still moving above the kumo cloud, indicating that the market has not yet entered a significant negative trend and the declines do not signal a confirmed trend reversal.
In this context, XRP’s effort to hold on to the Kijun level should be closely monitored. If the price dips below the $2.47 level, the downtrend could accelerate and the move could continue to the $2.39 region. This scenario could play out if the market fails to find enough buying interest in the support zones. On the other hand, hourly or daily closes above the $2.49 level may increase the expectation of a short-term recovery in the market and trigger upward trends again.
Supports 2.4769 – 2.3928 – 2.2154
Resistances 2.5900 – 2.8347 – 3.0756
SOL/USDT
Solana, where 65% of the total SOL supply is staked, recorded a high TVL of $10.9 billion. At the same time, more than 11.04 million wallets hold at least 0.1 SOL.
SOL price started to depreciate. The asset is currently testing the base level of the uptrend as support, failing to break the strong resistance at $181.75. If it breaks it, pullbacks may occur. 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. 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) is neutral, falling from overbought territory and below the downtrend that started on May 9, indicating that selling pressure may continue. The $189.54 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
DOGE continues to gain strength after the SEC accepted 21Shares’ spot DOGE ETF application and the number of active addresses increased by 528% to 469,477.
The DOGE price experienced a slight decline. The asset tested the ceiling of the downtrend that started on May 11 as resistance and failed to break it, retreated slightly and is about to test the strong support at $0.22632. This downtrend has also formed a flag formation. If it breaks to the upside, there could be a rise of about 45%. Otherwise, the 50 EMA (Blue Line) should be followed as a 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 it remained 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, crossed into negative territory and signaled selling pressure. The $0.25025 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 $0.21154 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
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.
