Although BTC is trading in the $55,300 zone this morning, down about 1%, there is a 7% retracement in the 24-hour period. The virus variant announced by the World Health Organization under the name of a new threat has raised global concerns. Selling pressures dominated the derivatives exchanges, with the loss of value in American technology companies such as TESLA and the closing of the Nasdaq 100 index with a negative 2.63%. While ounce gold and US 10 Years are gaining value with the dollar, the search for a safe haven rather than an inflation concern gives direction to the market. Although we see that the overall decline in the cryptocurrency market was 3.7% with the news and global fear-based retreats, it is tending to recover above the level of $2.41 trillion.

When we consider the BTC/USD parity in a technical sense, BTC pricing has been withdrawn each time with the sales pressure from the channel mid-band, where the parity could not test more than once. While the bullish peaks were above the trend, the MACD peaks and momentum peaks were lower each time, showing negative mismatch. This shows that the buying appetite on the upward side of the price remains weak. BTC, which cut down the channel sub-band, closed daily at $55,860. As seen in the hourly period, BTC, which turned the $56,180 level, which corresponds to the 50% slice of the Fibonacci correction, into resistance, has supported the $54,123 level, which corresponds to the 38.20% correction zone. As the $55,300 resistance is an important level to be followed for the parity in intraday closings, as long as it becomes the support zone, the first direction of the parity will be the Fibonacci 50% slice, which is the turning point. Then, it may be possible for the parity to hold on to the rising channel again.

Ethereum is pricing in the zone of $3,940, 6.5% below its peak at $4,200 this morning. Ethereum, which has a weekly return of 22%, provides 83% monthly return, while losses in the 24-hour period do not affect the overall upward trend. Following VanEck's ETF application, corporate and individual demand is approved with price increases, while ETH market dominance remains strong at 18.9%. Funding rates are on the rise again after the liquidation of the $427 million ETH position in the 24-hour period.

When we consider the ETH/USD parity technically, we see that the price continues to move on the mid-band of the rising channel. ETH, which increased its peak to $4,208 with its recent momentum, fell below the important support zone of $3,960 with sales from there. We see that another important support, $3,847, was maintained in the 4-hour period and moved upwards with the reaction from here. In the continuation of this move, if the $3,960 level is exceeded and the persistence on the $4,000 psychological resistance can be restored, we think that the upward movements can continue.

AVAX, which we saw to drop by 3% in the morning, is trading at $33 levels. When AVAX/USD is technically examined, AVAX, which continued its price movement by breaking its resistance at $39 levels, is trading below $34, which corresponds to the Fibo'50 level after yesterday's decline. Even though the parity tested the $30.40 Fibonacci 38.2% slice, the 4-hour candlestick closed above the $33 channel lower band. Thus, it held on to the bullish channel and the weak outlook was mitigated even though the following candlestick closings did not generate strong reactions. Candlesticks above the $34.00 resistance will be followed in the course of the channel. If this critical zone is brought into support for AVAX, we can see that sales pressures are reduced, and so the mid-channel zone can be tested again, the $40.00 zone that has become psychological resistance for AVAX. Losses tend to be absorbed, the outlook is positive in an uptrend.

Ripple is pricing in the $1.43 zone this morning with a 3% daily gain. Although BTC pricing is largely effective for XRP, which is far from the $1.96 peak, the news effect, which has been stagnant with no positive developments in the macro part, especially in XRP, is also consolidating prices. On the basis of the latest developments regarding the SEC case, May 14 is the date when the SEC's detailed statement will be given, while the price effects inversely proportional to the strength of the SEC defense can be seen. Ripple will defend against SEC claims on June 4. Although the signals given through Whale Alert are alarming for XRP transfers on foreign exchanges, their impact on XRP pricing remains weak. The update to the XRP Ledger and new business partnerships are read positively on the XRP side.

When we consider the XRP/USD parity technically, XRP, which broke its rising channel down, could not hold on to the 61.8% slice of the Fibonacci correction with sales yesterday at $1.61, an important resistance, and moved downward under the leadership of BTC. With support from the Fibonacci retracement at 38.20%, it is currently priced just above the 50% resistance. There is a positive mismatch in the 1 hour RSI in the oversold zone. This shows that the appetite for the falling trend decreases in the 1 hour period. If XRP can be permanent above the 50% slice of the Fibonacci correction, the $1.54 level corresponding to the 61.80% slice can be considered as the first resistance zone. If the retractions continue, buying reactions of $1.12 corresponding to the 23.6% of the correction can be seen as the first support.

LTC is down about 1.5% this morning, pricing at $353 levels. LTC, affected by BTC, whose sales pressure increased due to the global news effect, received a reaction from its new peak of $413, which it reached yesterday. Yesterday, we saw that approximately 246 thousand investors were liquidated in the cryptocurrency markets in the last 24 hours, and this was the biggest liquidation at one time with $8.5 million. Considering the chain data and the recent positive decoupling against BTC, we evaluate the overall view of LTC as positive.

When we consider the LTC/USD parity in technical terms, we see that the price movement continues in the mid-band of the rising channel it has been in for a long time. LTC, which rose to 141.4% of the Fibonacci retracement level yesterday, turned the price direction down with the accompanying correction. It closed the day close to $359 with a strong reaction from the $335 level, which corresponds to the previous peak and the mid-band of the channel. We think that LTC will continue its price movements towards the upper band of the channel, as long as there is no daily closing below the channel mid-band and with the momentum it has caught in the last period.

Showing a horizontal increase in the morning hours, LINK is trading at $46 levels. We see that LINK, which tested the $53 level the other day, returned to the ongoing rising channel with the decline in the market. When we evaluate the chain data, we see that the increase in the number of active and new addresses continues. In addition, we evaluate the general view of LINK positively, which we did not encounter any negative news flow except the general course of the market.

When we consider the LINK/USD parity technically, LINK, which continues its movement in the upper band of the channel, is trading just below the Fibo'161.80 level. If it can break the resistance formed at this point, it can continue its rising movement in the upper band of the channel. If it continues its downward movement below $46.88, which corresponds to the Fibo'161.80 level, we expect the price to move towards the mid-band of the channel. In the event of a downward price movement, LINK is likely to find support at $43 first. However, as the Ethereum-led recovery will continue to have a positive effect on the LINK side, we see that the overall trend continues its upward trend.

Basic Attention Token, which we saw to increase by 1.17% in the morning hours, is trading at $1.32 levels. When BAT/USD is technically examined, BAT is traded below the Fibo'61.80 level, in order for BAT to continue its movement in the channel, the price must first exceed the $1.34 level, which corresponds to this Fibonacci level of 61.80%, and then resistance break should be expected. At this point, we find the Fibo'61.80 and $1.37 levels important for the continuity of the upward movement within the channel. In addition, if the price continues to move below the Fibo'61.80 level, it can be expected that the price will continue to move towards the $1.25 level, which corresponds to the Fibo'50 slice.