Pelin Ay
Yazar/Analist/Trader
High-Frequency Trader
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For Ethereum, $2500 is a very strong resistance level. $2650 has become the trend resistance. If this level is breached, we can say that the trend has turned upwards. Unless it is broken – and I don't expect it to be broken until the last quarter of 2026 – the direction will continue downwards. $ETH
The bull season hasn't arrived yet, but it seems the bullish hype season has. I see those trading in false hope with every green candle, but I haven't seen a confirmed trend reversal yet.
For a trend reversal, #Bitcoin needs to close above $81,500. If the price stays above the $72,750 support level, it could be a trap. Based on my on-chain analysis, I believe it's rising due to increased short positions. $BTC
For a trend reversal, #Bitcoin needs to close above $81,500. If the price stays above the $72,750 support level, it could be a trap. Based on my on-chain analysis, I believe it's rising due to increased short positions. $BTC
XRP Price Will Now Be Determined by Spot Investors
Open Interest data has been trending downwards for a long time and is currently at quite low levels. This indicates that leveraged speculative positions in the market have been largely liquidated and cleared from the system. A decline in Open Interest as the price falls generally signals that the market is freeing up excessive leverage.
A noteworthy point recently is that Open Interest has begun to flatten at its base levels. Although the price is still weak, this structure often indicates that the selling momentum is weakening and that the ground is being prepared for a new trend formation.
The decrease in leveraged positions means that the mandatory liquidation mechanism, which accelerates declines, is also weakening. Furthermore, the absence of excessive long or short accumulation in the market suggests that a new directional movement may be healthier.
The slight increase in Open Interest in the last part of the chart is significant. If this increase occurs along with the price, it can be assumed that new positions are being opened in the direction of the trend. However, if the price remains weak while Open Interest increases, it may mean that the market is accumulating leverage again, and this could create a new wave of volatility.
At this point, the direction will be determined by new capital inflows into the spot market. Binance data is particularly important because the Binance derivatives market is one of the largest liquidity pools in the crypto ecosystem, and the changes in Open Interest there accurately represent the overall appetite for leverage. Therefore, the chart indirectly shows not only XRP but also the behavior of speculative capital in the altcoin market.
In conclusion, although aggressive leveraged selling has decreased, a strong turnaround in risk appetite is not yet visible. For the price to rise sustainably, strong spot buying needs to kick in. $XRP
Open Interest data has been trending downwards for a long time and is currently at quite low levels. This indicates that leveraged speculative positions in the market have been largely liquidated and cleared from the system. A decline in Open Interest as the price falls generally signals that the market is freeing up excessive leverage.
A noteworthy point recently is that Open Interest has begun to flatten at its base levels. Although the price is still weak, this structure often indicates that the selling momentum is weakening and that the ground is being prepared for a new trend formation.
The decrease in leveraged positions means that the mandatory liquidation mechanism, which accelerates declines, is also weakening. Furthermore, the absence of excessive long or short accumulation in the market suggests that a new directional movement may be healthier.
The slight increase in Open Interest in the last part of the chart is significant. If this increase occurs along with the price, it can be assumed that new positions are being opened in the direction of the trend. However, if the price remains weak while Open Interest increases, it may mean that the market is accumulating leverage again, and this could create a new wave of volatility.
At this point, the direction will be determined by new capital inflows into the spot market. Binance data is particularly important because the Binance derivatives market is one of the largest liquidity pools in the crypto ecosystem, and the changes in Open Interest there accurately represent the overall appetite for leverage. Therefore, the chart indirectly shows not only XRP but also the behavior of speculative capital in the altcoin market.
In conclusion, although aggressive leveraged selling has decreased, a strong turnaround in risk appetite is not yet visible. For the price to rise sustainably, strong spot buying needs to kick in. $XRP
Silver is failing to break above the $95 resistance level. Therefore, I expect it to seek liquidity in the $63-$74 range. I don't expect the price to close below $60. $XAG
Gold was rejected from the mid-trend resistance level. This suggests it could fall to the $4800-$4600 range. This drop will be a buying opportunity for those who are still on the sidelines. However, it may create some stress for those who bought at the top. I believe this will be a short-term decline. For futures contracts, you shouldn't rush into long entries. $XAU
Friends, $Ton has indeed broken the downtrend, but it was a low-volume breakout. So it's best not to rush to conclusions. While all other #altcoins are collapsing, and its CEO is in jail, it has only recently fallen to the price I bought it at in 2023. I think it's one of the altcoins that most deserves ETF approval. I'll be keeping an eye on it. Just so you know. $TON
Ethereum Short Squeeze Ends Short-Term and Long Liquidation Pressure
Short liquidations spiked sharply, particularly around February 25th and March 3-4th. During these periods, short positions were forcibly closed, and the price simultaneously moved sharply upwards. However, there's a significant change in the recent part of the chart. Short liquidations have dropped noticeably. The last day saw particularly low levels (around 700).
This means there are no large short positions left to squeeze in the market. This implies there's no reason to push the price upwards to close short positions in the short term.
Regarding long liquidations, there were very large long liquidations in mid-February (around 7K). A few spikes were seen again at the beginning of March. However, long liquidations have also been trending downwards recently. Around 1K liquidations were seen on the last day. This means there aren't any aggressively liquidated long positions in the market. Therefore, the forced downward selling pressure isn't strong at the moment.
In the current situation, the short squeeze period is largely complete. The long squeeze already occurred in previous weeks. Liquidation volume is decreasing on both sides. Investors are afraid to take positions.
The market is now moving away from the movement driven by forced liquidations and returning to normal price movements.
The decrease in short and long liquidations during recent price increases indicates that there is no liquidation pressure while the price is rising; the movement is driven by spot buying. Therefore, we can say the direction is upward in the short term. However, this does not mean a trend change. Instead, we can consider it a correction of the decline. $ETH
Short liquidations spiked sharply, particularly around February 25th and March 3-4th. During these periods, short positions were forcibly closed, and the price simultaneously moved sharply upwards. However, there's a significant change in the recent part of the chart. Short liquidations have dropped noticeably. The last day saw particularly low levels (around 700).
This means there are no large short positions left to squeeze in the market. This implies there's no reason to push the price upwards to close short positions in the short term.
Regarding long liquidations, there were very large long liquidations in mid-February (around 7K). A few spikes were seen again at the beginning of March. However, long liquidations have also been trending downwards recently. Around 1K liquidations were seen on the last day. This means there aren't any aggressively liquidated long positions in the market. Therefore, the forced downward selling pressure isn't strong at the moment.
In the current situation, the short squeeze period is largely complete. The long squeeze already occurred in previous weeks. Liquidation volume is decreasing on both sides. Investors are afraid to take positions.
The market is now moving away from the movement driven by forced liquidations and returning to normal price movements.
The decrease in short and long liquidations during recent price increases indicates that there is no liquidation pressure while the price is rising; the movement is driven by spot buying. Therefore, we can say the direction is upward in the short term. However, this does not mean a trend change. Instead, we can consider it a correction of the decline. $ETH
The TOTAL2 chart looks like it's going to collapse before it can even reach 1T again. What do you think? #TOTAL2
Interest in Bitcoin is Falling
Recently, the price has fallen sharply, retreating to around 70K. During this decline, there are strong negative spikes in netflow, indicating that investors are withdrawing BTC from exchanges during the drop. However, occasional positive spikes also show that liquidity for selling hasn't completely disappeared during the decline. The importance of the Binance chart becomes apparent here. Coins flowing into the exchange while the price is falling indicate that selling pressure continues.
In the most recent part of the chart, netflow is generally in negative territory, meaning BTC continues to flow out of exchanges. Despite this, the price remains weak, and the recovery after the drop appears limited.
Objectively speaking, coins are being withdrawn from exchanges, but the price is still not generating strong demand. Therefore, momentum remains weak, and the price direction remains under downward pressure.
In short, there is liquidity outflow, but because demand is insufficient, the price structure remains weak. $BTC
Recently, the price has fallen sharply, retreating to around 70K. During this decline, there are strong negative spikes in netflow, indicating that investors are withdrawing BTC from exchanges during the drop. However, occasional positive spikes also show that liquidity for selling hasn't completely disappeared during the decline. The importance of the Binance chart becomes apparent here. Coins flowing into the exchange while the price is falling indicate that selling pressure continues.
In the most recent part of the chart, netflow is generally in negative territory, meaning BTC continues to flow out of exchanges. Despite this, the price remains weak, and the recovery after the drop appears limited.
Objectively speaking, coins are being withdrawn from exchanges, but the price is still not generating strong demand. Therefore, momentum remains weak, and the price direction remains under downward pressure.
In short, there is liquidity outflow, but because demand is insufficient, the price structure remains weak. $BTC
It seems difficult for Aster to surpass 0.8$ in this market environment. #Aster made us a lot of money during its initial listing period. I think we should buy some short positions too 😅 $ASTER
Ethereum is at the mid-range resistance of its falling trend. A daily close above $2118 could push it up to $2500. A trend reversal would only occur with a break above this resistance. Until then, the falling trend seems likely to continue. $ETH
Bitcoin has once again broken above its upward trendline. If it makes a daily close above $72,750, we might see some movement for #altcoins. However, a close above $81,500 is necessary to officially declare an upward trend. $BTC
BNB has accumulated in the $660-$570 range. I will trade within this range until a breakout occurs. The direction will be determined by the breakout. Since the main market trend is downward, the probability of a decline is higher. $BNB
XRP Whales Gathering Selling Liquidity
The ratio on the chart is hovering around 0.912. This means aggressive sell orders outnumber buy orders. The side selling via market orders is dominant. The side acquiring liquidity is mostly sellers. In short, there is aggressive selling pressure on the order flow side.
The price is around $1.34 and appears weak. Because the ratio is below 1, market orders aren't trying to push the price up. Buyers may be passively waiting with limit orders. Price movement isn't supported by aggressive buying flow.
The side acquiring liquidity is sellers, and the side providing liquidity is buyers. So, there aren't any buyers in the market; however, there isn't aggressive demand pushing the price upward.
If the price remains weak and the ratio is below 1: The market is moving towards selling pressure in terms of order flow.
Since there is a correlation between the ratio and price on this chart, it seems that selling pressure will continue for some time. $XRP
The ratio on the chart is hovering around 0.912. This means aggressive sell orders outnumber buy orders. The side selling via market orders is dominant. The side acquiring liquidity is mostly sellers. In short, there is aggressive selling pressure on the order flow side.
The price is around $1.34 and appears weak. Because the ratio is below 1, market orders aren't trying to push the price up. Buyers may be passively waiting with limit orders. Price movement isn't supported by aggressive buying flow.
The side acquiring liquidity is sellers, and the side providing liquidity is buyers. So, there aren't any buyers in the market; however, there isn't aggressive demand pushing the price upward.
If the price remains weak and the ratio is below 1: The market is moving towards selling pressure in terms of order flow.
Since there is a correlation between the ratio and price on this chart, it seems that selling pressure will continue for some time. $XRP
Silver failed to break the $95 resistance level, but this resistance is now weak. I think it will break through. The trend is still upward. $75 is strong support. $XAG
Gold is unable to break above its mid-trend resistance ($5340). A clearer picture of the direction will emerge once the area I've marked with a yellow box on the chart is broken. I don't expect a major drop in #Gold in this war environment. Any declines will be shallow and short-lived. $XAU #XAUUSD
Box support: $4987
Box resistance: $5385
Box support: $4987
Box resistance: $5385
Sui is maintaining its downward trend and there is liquidity at $0.52, so I expect the price to gradually fall to this level. $SUI
Chainlink continues its downtrend and I would say it's in a resistance zone. Depending on the market, it could continue to fall as far as $5. $LINK
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