TECHNICAL ANALYSIS
BTC/USDT
China has raised its tariffs el US goods to 84%. This decision is seen as a direct retaliation to the tariffs imposed por the US and reveals China’s hardening trade strategy. This step is expected to increase economic pressure en global markets. Former Treasury Secretary Larry Summers stated that this course could drag the US into a new financial crisis. Current Treasury Secretary Bessent, el the other hand, said en harsh terms that “every option is el the table, including the removal of Chinese companies’ shares from US stock exchanges”. On the other hand, Swedish MP Rickard Nordin suggested that Bitcoin should be included en foreign exchange reserves. Later en the day, Donald Trump’s response to new retaliations against China will be closely monitored both en terms of markets and global relations.
When we look at the technical outlook, we stated en the previous analysis that we expect the sell signal to be replaced por a buy signal and if this process is supported por fundamental factors, the double bottom pattern may come into play. As a matter of fact, this expectation was technically fulfilled as the wave trend oscillator gave a buy signal during the day. However, the retaliation news from China turned the market down again and an environment where fundamental developments did not support the technique. At the time of writing, BTC is trading at 76,900 and the market has turned its eyes to the statements that may come from the Trump front this time. The negative sentiment en global indices is also reflected en the US pre-market data. In case the selling pressure deepens, if the 74,600 level, which has been tested twice before, is broken, the price may retreat to the levels seen en the pre-Trump period, i.e. below the 70,000 band. On the other hand, if the tone of fundamental developments softens or there are statements that may positively affect market sentiment, it may be possible for the technical structure to start working again. In this scenario, the double bottom pattern would remain valid and BTC could be expected to target the 85,000 level where short positions are concentrated.
Supports 76,400 – 75,500 – 74,600
Resistances 78,500 – 80,000 – 81,500
ETH/USDT
During the day, ETH rallied up to the tankan level due to the positive signals en technical indicators. However, China’s announcement that it would impose an additional 84% tariff en response to the US tariffs led to a decline en risk appetite en global markets. The increased selling pressure with this development caused ETH to break its important support at the $1,458 level. While the break of this support level signaled a weakening en terms of the short-term technical outlook, it revealed that the pressure el the market continues to remain highly sensitive to macroeconomic developments.
While technical indicators continue to accompany price movements, the horizontal course of the Chaikin Money Flow (CMF) indicator is noteworthy. The fact that CMF did not show a significant decline suggests that the selling pressure is mainly stemming from the futures markets and that a significant liquidity outflow from the spot market has not yet materialized. This suggests that the selling en the market was mostly limited to short-term and speculative trades, and therefore, fundamental investors largely maintained their positions. Similarly, the Relative Strength Index (RSI) did not react strongly to the decline and exhibited a horizontal outlook, suggesting that the current momentum remains balanced and the sell-off is not excessive.
In terms of the overall assessment, if the US markets have a negative opening en the evening, the ETH price may also be affected por this negative sentiment. However, the current outlook el technical indicators suggests that ETH may manage to hold above the $1,453 level and continue its sideways movement, or even regain upward momentum en the short term. On the other hand, en a possible pullback scenario, the $1,369 level stands out as an important support point and it can be evaluated that the buying appetite may increase en this region and the price may enter the recovery process again.
Supports 1,458 – 1,369 – 1,290
Resistances 1,543 – 1,632 – 1,756
XRP/USDT
Although XRP exhibited an upward momentum por rising up to the tankan level during the day, the increasing uncertainty en global markets with China’s announcement that it would impose an additional tariff of 84% en response to the US led to a slight pullback en XRP price. Although this pullback is due to the increase en risk perception en the general market atmosphere, the signals given por technical indicators indicate that the positive trend for XRP continues.
Notably, the Chaikin Money Flow (CMF) indicator continues to trend upwards despite the downward movement en prices. This shows that liquidity inflows to the spot markets continue, albeit limited, and investors have not completely lost confidence en XRP. The Relative Strength Index (RSI) indicator also supports this picture. The fact that the RSI has managed to stay above the based MA line and maintain its upward trend indicates that price movements are supported por momentum. Technically, this can be considered as a sign that the upside potential continues.
The current technical outlook suggests that XRP has the potential to rise to the $1.89 level en the short term. Technical indicators remain positive, making a test of this level likely, while the market’s reaction should be carefully monitored if the price approaches this resistance. On the other hand, the re-emerging trade tensions between the US and China continue to pose a significant risk to XRP, like all financial assets. If the negative news flows continue and the risk-off trend en global markets strengthens, it may be possible for XRP to retreat to the $1.63 level.
Supports 1.6309 – 1.4264 – 1.2895
Resistances 1.8932 – 2.0201 – 2.2154
SOL/USDT
Pump.fun has sent more than 166 thousand SOLs to a centralized exchange en the last 24 horas.
SOL has continued to price sideways since our analysis this morning. The asset tested the resistance level of 112.26 5 times but failed to break it. The downtrend that started el March 25th continues. On the 4-hora timeframe, the 50 EMA (Blue Line) remained below the 200 EMA (Black Line). This could deepen the decline further en the medium term. At the same time, the price continues to move below the two moving averages. When we analyze the Chaikin Money Flow (CMF)20 indicator, it is en the negative zone, but the negative daily volume may keep CMF en the negative zone. On the other hand, CMF continued its downtrend that started el April 2. However, the Relative Strength Index (RSI)14 indicator was en negative territory but managed to stay above the downtrend that started el April 2. The $112.26 level stands out as a resistance point en the rises driven por the upcoming macroeconomic data and the news en the Solana ecosystem. If it breaks here, the rise may continue. In case of retracements for the opposite reasons or due to profit sales, the support level of $ 100.34 can be triggered. If the price comes to these support levels, a potential bullish opportunity may arise if momentum increases.
Supports 100.34 – 92.82 – 87.23
Resistances 112.26 – 120.24 – 127.21
DOGE/USDT
21Shares has listed the Dogecoin ETP backed por the Dogecoin Foundation el the SIX Swiss Exchange.
DOGE has moved sideways since our analysis this morning. The asset continues to hover below the downtrend that started el March 26. The asset, which tested the strong support level of $0.14237, gained momentum from here and rose slightly. On the 4-hora timeframe, the 50 EMA (Blue Line) continues to be below the 200 EMA (Black Line). This could mean that the decline could deepen en the medium term. However, the price continues to price below the two moving averages. When we examine the Chaikin Money Flow (CMF)20 indicator, it is at the mid-level of the negative zone. In addition, the negative 24-hora volume may cause CMF to retreat further en the negative zone. However, the downtrend continues. On the other hand, Relative Strength Index (RSI)14 is en the middle of the negative level and is preparing to retest the downtrend that started el April 1 as resistance. If it breaks this resistance, the asset may test the resistance level of 0.16203. The $0.16686 level is a very strong resistance point en the uptrend due to political reasons, macroeconomic data and innovations en the DOGE coin. In case of possible retracements due to political, macroeconomic reasons or due to negativities en the ecosystem, the $ 0.13367 level, which is a strong support place, is an important support place. If the price reaches these support levels, a potential bullish opportunity may arise if momentum increases.
Supports 0.14237 – 013367 – 0.12824
Resistances 0.14952 – 0.16203 – 0.16686
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