Technical Analysis
BTC/USDT
Fed Chairman Jerome Powell said that tariff-driven increases in goods prices will put pressure on inflation in the coming quarters, but that this will not be permanent. Noting that risks on the employment front have risen, Powell emphasized that the Fed’s independence will be preserved. While FOMC members expressed differing views on interest rate policy, rare earth elements, Boeing orders, and nuclear weapons negotiations took center stage in China-US talks. Strategy founder Michael Saylor stated that Bitcoin’s fundamental narrative is built on ETFs and institutional accumulation.
Looking at the technical picture, BTC, which tested the 113,000 level in the previous analysis, failed to break through. BTC spent most of yesterday within the 112,000 range but faced selling pressure overnight and tested the 111,000 level. Following the minor downtrend channel, the price continues to trade at the 112,600 level with the recovery recorded this morning.
Technical indicators are preparing for a trend reversal with the Wave Trend oscillator (WT) giving a buy signal in the oversold zone, while the Squeeze Momentum (SM) indicator is gaining momentum in the negative area of the histogram. The Kaufman moving average is currently hovering just above the price at 112,700.
Looking at liquidation data, short-term trades began to intensify around 111,000, but yesterday’s movement cleared the area again. On the sell side, there is slight concentration in the 113,500 – 114,000 band, while on the long side, there is significant concentration in the 117,800 – 119,000 region.
In summary, while there is no clear fundamental catalyst for the recent sell-off, the selling pressure from futures trading appears to be deepening the decline. Although the overall medium-term outlook for the market remains positive, technically, a minor descending channel is being tracked, and a break above the upper level of the channel could signal a new uptrend. In terms of liquidity data, the recent decline has completely cleared the buying levels, while a significant increase in selling levels stands out. In this context, for the price to recover, it may be necessary to regain the 114,000 level in the first stage, followed by closes above 115,000. However, if selling pressure persists and the 112,600 level is broken, the next important support level to watch will be 111,400.
Supports: 112,600 – 111,400 – 110,000
Resistances: 114,000 – 115,000 – 116,100
ETH/USDT
The ETH price showed a slight negative movement yesterday evening following the speech by US Federal Reserve Chairman Powell and fell back to $4,070, unable to maintain its position above the $4,196 level. With this pullback, the price filled the gap it had previously left. Technically, this movement can be considered positive because the downward gap has been cleared.
On the momentum side, it is noteworthy that the Relative Strength Index (RSI) indicator has moved out of the oversold zone and gained upward momentum. This movement of the RSI indicates that the market is beginning to leave its weak appearance behind and that buyers are gaining strength.
In terms of liquidity flow, the Chaikin Money Flow (CMF) indicator maintaining its upward trend despite remaining in negative territory shows that money is starting to flow into the market. This picture confirms that buyers are playing an increasingly active role in the market.
In the short term, the $4,196 level is the most critical threshold. If the price settles above this level, it could be seen as very positive in terms of buyers strengthening their control, and in this case, an upward movement towards the $4,308 resistance zone could come into play. On the downside, the $4,071 level stands out as the most important short-term support point. Maintaining this support would reinforce the validity of the bullish scenario.
Top of Form
Below the Form
Support levels: 4,071 – 3,940 – 3,850
Resistance levels: 4,196 – 4,308 – 4,502
XRP/USDT
XRP pulled back slightly yesterday evening, retreating to the $2.79 level. Although this decline appeared negative in the short term, strong buying in the morning pushed the price back above the $2.85 level, indicating that buyers are once again playing an active role in the market. The defense of the $2.85 level is particularly noteworthy as a critical development for strengthening upward expectations.
A review of technical indicators reveals important signals supporting the recovery. First, the Relative Strength Index (RSI) indicator’s emergence from the oversold zone and its continued upward trend can be interpreted as a strong sign supporting momentum in price movements. This movement clearly shows that the weak market outlook is beginning to fade and buyers are regaining their dominance. Similarly, the Chaikin Money Flow (CMF) indicator moving into positive territory and maintaining its upward trend also signals increased liquidity inflows into the market. This indicates that buyers’ appetite has strengthened and they are more determined to push prices higher.
In the Ichimoku indicator, the price reaching the Tenkan and Kijun levels again is considered quite positive in the short term. Although the cloud region still remains an obstacle to overcome, the price testing the Tenkan and Kijun levels and attempting to hold in this region stands out as an important development confirming the strong stance of buyers. This picture suggests that the market recovery is also supported from a technical perspective and that buyers may have more say in the market in the short term.
Overall, the $2.85 level remains the most critical threshold for XRP in the short term. If the price manages to stay above this level, buyers may be able to maintain control. In such a scenario, the $2.92 and then the $2.99 resistance levels could be tested. Breaking above $2.99 could open the door to a more medium-term uptrend. On the other hand, if the price dips below $2.85, momentum could weaken in the short term, and the $2.73 $ level could come back into play. This support level is the most important point to watch, as it must be defended to keep the recovery scenario valid.
Support levels: 2.8570 – 2.7306 – 2.6513
Resistance levels: 2.9967 – 3.0927 – 3.1879
SOL/USDT
Kazakhstan launched its national stablecoin on Solana with Mastercard’s support.
The SOL price continued its decline. The asset deepened its decline by breaking below the 200 EMA (Exponential Moving Average – Black Line), a strong support level. The price, which has remained in the downward region of the upward trend that began on August 22, has now broken below the strong support level of $209.93. If the pullback continues, the $200.00 level could be tested. If there are candle closes above the 200 EMA, the $222.61 level could be monitored.
The price remained above the 50 EMA (Exponential Moving Average – Blue Line) and 200 EMA (Black Line) on the 4-hour chart. This indicates that the upward trend may continue in the medium term. At the same time, the price being below both moving averages shows us that the market is trending downward in the short term. The Chaikin Money Flow (CMF-20) remained in negative territory. However, a decrease in cash inflows could push the CMF deeper into negative territory. The Relative Strength Index (RSI-14) remained in oversold territory. This could lead to minor corrections. At the same time, it continued to remain below the downtrend that began on September 14, signaling continued selling pressure. In the event of an upturn due to macroeconomic data or positive news related to the Solana ecosystem, the $222.61 level stands out as a strong resistance point. If this level is broken upwards, the uptrend is expected to continue. If there are pullbacks due to developments in the opposite direction or profit-taking, could test the $200.00 level. A decline to these support levels could increase buying momentum, presenting a potential upside opportunity.
Supports: 200.00 – 189.54 – 181.75
Resistances: 209.93 – 222.61 – 237.53
DOGE/USDT
The DOGE price continued to trade sideways. The asset tested the strong support level of $0.25025 and broke below it, moving into the lower region of the 200 EMA (Exponential Moving Average – Black Line). Currently remaining below the 200 EMA moving average, the price could test the $0.22632 level if the pullback continues. In the event of a potential rise, the $0.25025 level should be monitored as resistance.
On the 4-hour chart, the 50 EMA (Exponential Moving Average – Blue Line) remained above the 200 EMA (Black Line). This indicates that the medium-term upward trend is continuing. The price being below both moving averages, however, suggests a short-term downward trend. The Chaikin Money Flow (CMF-20) remained in negative territory. Additionally, a decrease in money inflows could push the CMF deeper into negative territory. The Relative Strength Index (RSI-14) is in the oversold zone. This could lead to an upward correction. At the same time, it continued to be in the lower region of the downtrend that began on September 13, indicating that selling pressure continues. In the event of an upturn due to political developments, macroeconomic data, or positive news flow in the DOGE ecosystem, the $0.28164 level stands out as a strong resistance zone. Conversely, in the event of negative news flow, the $0.21154 level could be triggered. A decline to these levels could increase momentum and initiate a new wave of growth.
Supports: $0.22632 – $0.21154 – $0.19909
Resistances: 0.25025 – 0.28164 – 0.30545
TRX/USDT
Tron founder Justin Sun announced a logo refresh to mark Tron’s 8th anniversary. Accordingly, the logo, redesigned using golden ratio principles and rotated eight degrees to celebrate TRON’s eighth year, represents the first major brand update since its founding in 2017.
As of September 23, 2025, the total amount of TRX staked is 44,589,408,367, representing 47.10% of the circulating supply. Compared to the previous day, there has been an increase of approximately 2 million TRX in the staked amount. Meanwhile, the TRX market cap has reached $31.8 billion.
Furthermore, a total of 4,105,245 TRX was burned yesterday, permanently removing 189,533 TRX from the circulating supply. This contributes to increasing deflationary pressure on the Tron network.
Technically speaking, TRX closed yesterday at 0.3360 after the decline, showed a slight increase in the morning hours, and is currently trading at 0.3382. TRX, which is currently attempting to enter the channel from the lower band of the bearish channel, is priced just below the 0.3395 resistance on the 4-hour chart. The Relative Strength Index (RSI) value is 43, indicating a sell zone. In addition, the Chaikin Money Flow (CMF) indicator is above zero at -0.07, indicating a decrease in money inflows. This situation signals that sellers’ pressure in the market is increasing and that selling movements may gain short-term strength.
In light of all these indicators, TRX may rise slightly in the first half of the day, moving towards the middle band of the channel, given its current zone and RSI value. It could then test the resistance levels of 0.3395 and 0.3465, respectively. A candle close above the 0.3465 resistance could continue the uptrend, moving towards the upper band of the bearish channel and testing the 0.3555 resistance. If it fails to close above the 0.3395 resistance and the CMF indicator remains in negative territory, it may decline slightly under potential selling pressure and test the 0.3340 support.
On the 4-hour chart, 0.3260 is an important support level, and as long as it remains above this level, the upward momentum is expected to continue. If this support is broken, selling pressure may increase.
Supports: 0.3340 – 0.3295 – 0.3260
Resistances 0.3395 – 0.3465 – 0.3555
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