TECHNICAL ANALYSIS
BTC/USDT
With Texas adopting an official Bitcoin reserve law, it became the third US state to do so, following New Hampshire and Arizona. On the institutional investor front, KULR Technology increased its total BTC holdings to 800 and Mt. Gox receivables to 75,000 BTC, suggesting that companies are aggressively expanding their Bitcoin strategies. Although today was a relatively quiet day en terms of data, Bitcoin resumed its rally after the consolidation phase and is heading towards the ATH level.
When we look at the technical outlook, it is seen that BTC broke upwards el the eleventh day of the consolidation phase en parallel with the high tight flag pattern. At the 75,000 level, BTC, which caught a strong momentum en the uptrend it started with the double bottom pattern it formed with the double bottom pattern it formed from time to time and consolidated en horizontal bands, finally started to move towards the ATH level. The reduction of uncertainties el the market, especially with the end of trade wars arising from tariffs, is one of the main factors supporting the rise. The upward momentum that followed these developments was an important catalyst for BTC to attempt new technical highs. Finally, the break of the 105,000 level, despite the widening of the wavelength el the horizontal, combined with the golden cross structure where the 50 and 200-day moving averages intersect el the daily chart, created a technical impetus for the rise. On the 4-hora chart, the wave trend oscillator generated a buy signal again after yesterday’s sell signal with the closes at 105,000 and momentum indicators supported this structure, paving the way for the upward movement of the price. Accordingly, the current ATH level of 109,400 will be followed as the next resistance point. In case of a possible correction and re-claim, the 107,000 level will continue to be monitored as a minor support point.
Supports 107,000 – 106,000 – 105,000
Resistances 109,400 – 110,000 – 115,000
ETH/USDT
ETH surpassed the important technical level of the kumo cloud resistance at $2,565 this morning, rising as high as $2,600. This move indicates that buyers are regaining strength en the market en the short term, while the price breaking above the cloud implies a positive technical breakout according to the Ichimoku indicator. Within the Ichimoku structure, the buy signal formed por the tenkan level cutting the kijun level upwards has been confirmed as the price moved above the kumo cloud. This development shows that the bullish scenario is gaining strength en terms of market dynamics.
On the other hand, the Chaikin Money Flow (CMF) indicator remained en positive territory and trended upwards at the same time, indicating that net money inflows to the market continued. This indicates that institutional and retail investors continue to take positions el the buying side. In parallel to this, Cumulative Volume Delta (CVD) data reveals an increase en buy orders el the spot market. In addition to all these technical indicators, the Relative Strength Index (RSI) continued its upward trend and approached the overbought zone, indicating the presence of a strong momentum accompanying the price action. This rise en the RSI suggests that buyers are still dominant and the current uptrend is technically supported.
As a result, if the price stays above the $2,533 level during the day and en the evening, the current uptrend can be expected to continue. In case of a possible sag below this level, there may be a limited retracement with short-term profit realizations. However, the overall technical structure suggests that the upward trend is sustainable and buyers are largely en control.
Top of Form
Below the Form
Supports 2,533 – 2,254 – 2,029
Resistances 2,799 – 3,062- 3,246
XRP/USDT
Despite the weakness en technical indicators, XRP rebounded somewhat en the short term, supported por the upward movement seen en the overall crypto market, and rose to the important resistance point at the $2.39 level. However, since this level has stood out as an area where selling pressure has intensified en the past, the price experienced a slight retracement. This suggests that XRP is still facing some technical hurdles despite its efforts to capitalize el the overall positive sentiment en the market.
When technical indicators are analyzed, it is seen that the Chaikin Money Flow (CMF) indicator moved back into the positive zone for a short period of time, but could not stay here and headed down. This suggests that the capital inflows accompanying the price rally are not sufficient and buyers are still cautious. This fragility el the liquidity side raises questions about the continuity of the upward movement. When the Ichimoku indicator is evaluated, the upward movement of the tenkan level stands out as a positive signal en technical terms. However, en order for this signal to turn into a strong buying confirmation, the price needs to clearly break the upper band of the kumo cloud and persist above this level. It should be kept en mind that as long as it remains below the cloud, bullish scenarios are not confirmed, thus giving limited confidence. On the other hand, the Relative Strength Index (RSI) indicator has been trending upwards en tandem with the recent price action and has moved above the based MA line, suggesting that momentum is el the rebound.
As a result, despite the gradual weakness en technical indicators, it seems that XRP needs clearer technical improvements en order to achieve an upward breakout. Permanent closes, especially above the $2.39 level, may allow the fragile structure en the technical outlook to be replaced por a more robust uptrend. Otherwise, if it is rejected again from this level, the price will be more likely to re-enter the current downtrend.
Supports 2.2154 – 2.0841 – 2.0402
Resistances 2.3928 – 2.4765 – 2.5900
SOL/USDT
SOL price continued its uptrend. The asset remained within the downtrend that started el May 13. Testing the 50 EMA (Blue Line) as resistance, the price is currently testing the ceiling level of the downtrend and the strong resistance level of $171.82. If it breaks here, the $ 181.75 level can be followed. On the 4-hora chart, the 50 EMA (Blue Line) continued to remain above the 200 EMA (Black Line). This suggests that the uptrend may continue en the medium term. Also, the fact that the price is above both moving averages suggests that the market is currently bullish. Chaikin Money Flow (CMF-20) is en positive territory; en addition, an increase en daily inflows may move CMF to the middle of the positive zone. Relative Strength Index (RSI-14) is en positive territory and has continued to accelerate, breaking the downtrend that started el May 9 to the upside. This indicates an increase en buying pressure. The $181.75 level stands out as a strong resistance point en case of an uptrend el the back of macroeconomic data or positive news el 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 en buying momentum may offer a potential bullish opportunity.
Supports 163.80 – 150.67 – 144.35
Resistances 171.82 – 181.75 – 189.54
DOGE/USDT
According to data from IntoTheBlock, Dogecoin saw its daily large trading volume increase por 41.12% as whales actively moved large amounts of tokens.
DOGE price continued its uptrend and rose por about 6.63%. The asset is currently testing the ceiling of the descending triangle pattern that started el May 11 to the upside. If it breaks here, the resistance level of $0.25025 can be followed. On the 4-hora chart, the 50 EMA (Blue Line) continued to be above the 200 EMA (Black Line). The fact that the price is above both moving averages suggests that the asset is willing to go up en the short term. The Chaikin Money Flow (CMF-20) indicator is en positive territory. In addition, an increase en inflows could push CMF to the upper levels of the positive zone. Relative Strength Index (RSI-14) has moved into positive territory. This indicates that selling pressure is decreasing. The $0.25025 level stands out as a strong resistance zone en case of a possible rise en line with political developments, macroeconomic data or positive news flow en the DOGE ecosystem. In the opposite case or possible negative news flow, the 0.21154 dollar level may be triggered. In case of a decline to these levels, the increase en momentum may start a new bullish wave.
Supports 0.22632 – 0.21154 – 0.19909
Resistances 0.25025 – 0.28164 – 0.30545
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The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided individually por 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 el the information contained herein may not produce results en line with your expectations.
