Technical Analysis
BTC/USDT
While US President Trump’s tax cut bill made progress in the House of Representatives, objections from the Republican conservative wing revealed that more negotiations are needed before final approval of the legislation. Japanese Prime Minister Ishiba called the US tariffs on goods “unacceptable” and called for investment-oriented cooperation to reduce tensions between the two countries. In a noteworthy development in terms of institutional crypto investments, Japanese company Metaplanet bought another 1,004 BTC, bringing its reserves to 7,800 BTC. On the first day of the week, eyes will turn to the Bitcoin purchases of Saylor from Stategy, which publishes Tracker, and the statements of Fed members on interest rate policy and the economy will be followed.
When we look at the technical outlook, it is seen that after the volatile movements exhibited over the weekend, BTC broke through the 105,000 resistance level and tested the 107,000 level. However, it is observed that this breakout was not permanent, the price could not hold on to the bullish areas and retreated to the band range where it has been consolidating for a long time after liquidity purchases. While the Wave trend oscillator started to generate a sell signal close to the overbought zone, momentum indicators also signal weakness by failing to confirm the persistence of the rise. If BTC, which is currently moving at the minor support level of 102,350, fails to hold in this region, with the increase in selling pressure and the loss of the 101,400 level, a minor downtrend may be likely to form within the major uptrend. This may cause the price to fall below the six-digit levels. On the other hand, a close above the 102,350 support may allow the price to regain momentum and strengthen the possibility of a rebound towards 104,000 levels. Liquidation data shows that selling positions have been liquidated to a large extent and the market is dominated by buying positions. The course of the US futures market, especially on the first trading day of the week, will be followed later in the day to see if it can limit the decline for BTC.
Supports 102,350 -101,400 -100,000
Resistances 104,200 – 106,000 – 107,000
ETH/USDT
After losing its key support at $2,533 on Saturday, ETH retreated to the $2,450 level as selling pressure increased. This level is an area followed as short-term support, and the price entering the cloud signals increased uncertainty in terms of market direction. On Sunday, it was noteworthy that volatility increased. ETH price first rose to the $2,580 level with buying pressure. This level is technically a resistance zone as the upper band of the kumo cloud. However, this rise could not be permanent and the price fell again with the seller’s course of the market and fell to the level of $2,325. These movements reveal that signs of indecision are at the forefront of the market.
A detailed analysis of the technical indicators shows that the Chaikin Money Flow (CMF) indicator continues to remain in negative territory, approaching the zero line. This indicates an increase in capital leaving the market and continued weakness in liquidity. The fact that CMF is moving towards the negative area reveals that investor interest has decreased and sell trades are gaining weight. In this context, the weakness in money flow is considered as a negative signal for the continuation of the downtrend. The Relative Strength Index (RSI) indicator also continued its downward trend, indicating that the weakness in momentum continues. On the Ichimoku indicator, the intersection between the tenkan and kijun levels has generated a downward signal. However, this signal has not yet been confirmed because the price is still moving inside the kumo cloud.
In general terms, considering the weakness in technical indicators and money outflows, it can be evaluated that the downside scenario is at the forefront. Accordingly, the price has the potential to retreat to the next support area at $2,254. On the other hand, the regain of the $2.533 level may pave the way for the negative outlook to deteriorate and the price to re-enter an upward trend.
Top of Form
Below the Form
Supports 2,254 – 2,131 – 2,029
Resistances 2,533 – 2,799 – 3,062
XRP/USDT
As with the entire cryptocurrency market, XRP spent the weekend with high volatility. After fluctuating between $2.29 and $2.44, the XRP price remained under the cloud of kumo and turned down and is currently trading at $2.28 with a sharp decline. Technical indicators for XRP, which is trying to hold at this level, continue its negative trend.
The Chaikin Money Flow (CMF) indicator is hovering near the zero line, indicating that liquidity outflows from the market have increased. This outlook in CMF reveals that investors’ appetite for buying remains weak and capital continues to withdraw from the market. On the Ichimoku indicator, a sell signal has formed as the tenkan level crosses the kijun level to the downside. This signal seems to have gained technical confirmation as the price moved below the kumo cloud. On the Ichimoku indicator, pricing below the cloud usually indicates a strengthening of the downtrend, and signals such as the tenkan-kijun crossover are particularly meaningful in this context. The Relative Strength Index (RSI) indicator has also continued its downward trend, indicating that price action is taking place with weak momentum. This downward structure in the RSI suggests that the effectiveness of buyers in the market is low and possible rises may remain limited. Although the RSI is nowhere near oversold territory, its current position confirms that momentum has yet to pick up.
As a result, technical indicators show that the negative trend in the XRP price continues and selling pressure may continue. In this context, if the price continues to stay below the $2.39 level, there may be a risk of testing the support levels of $2.21 and then $2.08. However, if the $2.39 level is regained, this level will also signal the break of the short-term downtrend, the negative outlook may deteriorate and it may become possible for the price to re-enter an upward movement.
Supports 2.2154 – 2.0841 – 2.0402
Resistances 2.3928 – 2.4765 – 2.5900
SOL/USDT
JA Mining launches scalable crypto mining with FCA Certification and $100 bonus. Alchemy acquired DexterLab to strengthen Solana infrastructure.
The SOL price kept pace with the crypto market and declined. The asset failed to break the strong resistance at $181.75 and remained within the downtrend that started on May 13. Currently, the price is below the 50 EMA (Blue Line) and testing the strong support at $163.80. At the same time, a pennant has formed. If it works, the $ 209.93 level can be followed. On the 4-hour chart, the 50 EMA (Blue Line) continued to remain above the 200 EMA (Black Line). This indicates that the upward trend may continue in the medium term. Also, the fact that the price is between both moving averages suggests that the market is in the decision phase. Chaikin Money Flow (CMF-20) crossed into negative territory; in addition, the decline in daily inflows may move CMF to the middle of the negative zone. Relative Strength Index (RSI-14) is negative and below the downtrend that started on May 9, indicating that selling pressure may continue. The $171.82 level stands out as a strong resistance point in case of an uptrend 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 $150.67 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 163.80 – 150.67 – 144.35
Resistances 171.82 – 181.75 – 189.54
DOGE/USDT
DOGE price moved sideways. The asset broke the ceiling of the downtrend that started on May 11, rallying by about 7%. It is currently testing the falling trend ceiling as support and the 50 EMA (Blue Line) as resistance. 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 between both moving averages suggests that the asset is in the decision-making phase in the short term. The Chaikin Money Flow (CMF-20) indicator is in neutral territory. In addition, a decline in money inflows may move CMF into negative territory. Relative Strength Index (RSI-14), on the other hand, is at a negative level, indicating that selling pressure has started. The $0.25025 level stands out as a strong resistance zone in the event of a rally 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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