Technical Analysis
BTC/USDT
Trade negotiations between the US and China, which started in London, have become the focal point of global markets. While US President Trump’s positive statements have increased optimism about the process, critical developments are also taking place on the regulatory front in Washington. The GENIUS Stablecoin Act is set to be voted on Wednesday, while the SEC accelerated plans for innovation exemption for DeFi projects. On the institutional investment front, Strategy and KULR attracted attention with new BTC purchases, while Japan-based ANAP announced its goal of increasing its BTC portfolio to over a thousand units. Although there is no development in the data set today, the second day of negotiations in London will be followed.
When we look at the technical outlook after the latest developments, BTC price tested the bottom level by pinning the 100,300 level after the sharp pullback last week. At this point, with the buy signal given by the technical structure in the oversold zone, BTC entered a rapid recovery process and recorded a strong rally. BTC, which experienced minor rises from time to time within the falling trend channel starting from the ATH level of $111,970, gained upward momentum after the last pullback, laying the groundwork with the consolidation process in the 104,000 – 105,000 band. The breakout above the 105,000 level enabled the price to form a strong uptrend and BTC tested the 110,700 level. In this uptrend, the wave trend oscillator is back in the overbought territory, while momentum indicators remain in positive territory. In addition, the Supertrend indicator confirmed the bullish signal, while the Kaufman moving average was also below the price, supporting the uptrend. Although the technical structure confirms the uptrend in general, the fact that the price has reached the overbought zone raises the possibility of a short-term correction. In this context, the 109,000 level stands out as an important reference point. If the price gets support from this level, it may be possible to retest the ATH level with a flag formation that may form. On the other hand, if the 109,000 level is broken down, both reverse trading opportunities may be on the agenda and the price may be expected to re-establish a technically favorable ground before a new bullish move. On the other hand, if the uptrend continues without entering the correction, crossing the 110,000 level may bring the break of the ATH level to the agenda.
Looking at the liquidation data, it is seen that selling positions have been largely liquidated with the recent rally. On the daily heat map, it is noteworthy that transactions are diluted, but a non-intensive accumulation of buying positions has formed at 106,600. This level can be followed as a support point where the price may react again in a possible pullback.
Supports 109,000 – 107,300 – 106,000
Resistances 110,000 – 111,000 – 111,970
ETH/USDT
ETH gained a strong upside momentum yesterday evening, breaking through the key resistance zone at $2,533, and in the continuation of this move, it crossed the upper band of the kumo cloud and rose as high as $2,736. While technical indicators have shown significant improvements during this rally, some important dynamics in the market structure are also noteworthy. In particular, there has been a noticeable increase in open interest, indicating that new positions are entering the market and investor interest is rising. An analysis of the Cumulative Volume Delta (CVD) data reveals that the spot market was dominated by selling while futures were dominated by buying. This divergence reveals that the bullish move is mostly supported by leveraged positions and therefore, it is an element that should be carefully monitored in terms of the sustainability of the move. At the same time, the rise in funding rates also supports that the demand for long positions has increased and market participants are expecting a rise in the short term.
When the technical indicators are analyzed in detail, it is seen that the Relative Strength Index (RSI) indicator reached the overbought zone and then reacted from this level and entered a downward trend. This could herald a classic short-term correction. While this turn in the RSI indicates that the price may experience some pullback in the short term, it has not yet produced a strong weakening signal that would disrupt the overall structure of the uptrend.
On the other hand, the Chaikin Money Flow (CMF) indicator remains in positive territory and maintains its upward trend. This shows that money inflows to the market continue, and the upward movement is structurally supported.
On the Ichimoku indicator, the fact that the price has exceeded both the kumo cloud and the tenkan and kijun levels indicates that the positive technical outlook continues. In addition, the fact that the tenkan level continues to remain above the kijun level suggests that the short-term bullish scenario is still technically valid.
When all these data are evaluated together, it is seen that technical indicators continue to generate positive signals in general. However, the aggressive rise in funding rates and the correction signal in the RSI increase the likelihood that the price will experience some retracement during the day. In this context, limited pullbacks may be observed in the short term with possible profit realizations. However, the fact that technical indicators still remain in the positive zone and especially the continuation of money inflows keeps the possibility of testing the $2,736 level again on the agenda. In other words, despite short-term corrections, the overall technical structure shows that the bullish scenario is still on the table.
Top of Form
Below the Form
Supports 2,533 – 2,254 – 2,130
Resistances 2,736 – 3,062- 3,246
XRP/USDT
XRP has continued its upward movement since Friday, breaking through the strong resistance zone at $2.21 and then the intermediate resistance at $2.27. With this bullish momentum, the price climbed as high as $2.33. However, the selling pressure at this point caused the price to retreat in the short term, and XRP fell back to the $2.27 level and is trying to hold here. This region has now become an intermediate support and is critical to the direction of short-term price movements.
Looking at the technical indicators, the Relative Strength Index (RSI) indicator has turned negative with a second rejection from the overbought zone. This suggests that momentum has begun to weaken and that there may be a short-term pause in the price’s ability to move upwards. This double top structure on the RSI is a classic technical signal that traders should be cautious and a potential correction could be on the agenda.
On the other hand, the Chaikin Money Flow (CMF) indicator continues to move upwards in the positive area, indicating that liquidity inflows to the market continue and this bullish trend is structurally supported. This suggests that despite the selling pressure on the price, investor interest is still strong and the potential bullish scenario has not completely disappeared.
On the Ichimoku indicator, the fact that the price continues to be positioned above both the kumo cloud and the kijun and tenkan levels confirms that the technical outlook remains positive in general. In particular, the fact that the price remains above the cloud suggests that the trend is upward and this outlook will continue as long as it can hold above the support zones. The structure between the tenkan and kijun levels also supports the positive momentum in the short term.
As a result, although the weakening signal on the RSI indicator raises the possibility of a short-term pullback, the fact that most of the other technical indicators continue to remain in positive territory suggests that this pullback may remain limited. Especially if the $2.21 level is maintained as a strong support, it may be possible for XRP to start a new bullish wave. In this context, the price’s effort to hold at the level of $2.27 and the protection of $2.21, which is the main support below it, will be decisive in determining the short-term direction. While the overall technical structure still remains positive, short-term profit sales and corrections should be considered as a natural part of the uptrend.
Supports 2.0841 – 2.0402- 1.6309
Resistances 2.2154 – 2.3928 – 2.4765
SOL/USDT
Canary Marinade Solana ETF registered in Delaware.
SOL price has been bullish. The asset broke the 50 EMA (Blue Line) and 200 EMA (Black Line) moving averages to the upside, which is a place of strong resistance. It is currently testing the 200 EMA as resistance. In case of a pullback, it may test the uptrend that started on June 6 as support.
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 in between both of them suggests that the market is currently in a short-term decision phase. Chaikin Money Flow (CMF-20) crossed into positive territory; in addition, the decline in daily inflows may move CMF back into negative territory. Relative Strength Index (RSI-14) also moved into positive territory. It also remained above the uptrend that started on June 5. This could keep the uptrend going. At the same time, there is a negative mismatch. This could trigger a pullback. In case of a rise on the back of macroeconomic data or positive news on the Solana ecosystem, the $163.80 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, 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 150.67 – 144.35 – 138.73
Resistances 163.80 – 171.82 – 181.75
DOGE/USDT
DOGE price has been bullish. Gaining momentum from the uptrend that started on June 6, the asset broke the 50 EMA (Blue Line) to the upside, rising by about 7.80%. As of now, it has managed to stay above the moving average. If the uptrend continues, it may test the 200 EMA (Black Line) as resistance.
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 moved into positive territory. In addition, negative money inflows may move CMF into negative territory. Relative Strength Index (RSI-14) also moved into positive territory. At the same time, it remained above the uptrend that started on June 6. This may ensure a continuation of the uptrend. The $0.19909 level stands out as a strong resistance zone in the uptrend 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
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