Key Moments
- Bitcoin (BTC) has been confined between $65,729 and $71,746 since February 7, with momentum indicators signaling rising bearish pressure despite a lingering bullish MACD crossover.
- Ethereum (ETH) is moving toward the lower end of its consolidation band at $1,747, with a potential slide to $1,669 if support fails.
- XRP is holding above a broken falling-wedge trendline around $1.42, but a daily close below that line could open a move toward $1.30.
Major Cryptocurrencies Stuck in Sideways Trade
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading sideways within well-defined consolidation structures on Friday, reflecting a lack of clear direction across the broader crypto complex. BTC has bounced off a key floor, ETH is edging closer to the bottom of its range, and XRP is hovering at a crucial trendline. Collectively, the three largest cryptocurrencies by market value are showing limited follow-through on the upside, keeping the technical bias tilted toward further weakness.
Bitcoin Holds Range Support but Bearish Signals Intensify
Bitcoin has been oscillating in a range between $65,729 and $71,746 since February 7. The coin began the week under pressure, retreating through the first half of the week before staging a modest rebound on Thursday after retesting the range low at $65,729. As of Friday, BTC is trading at $67,200.
A daily close beneath the lower boundary at $65,729 would expose the next notable support area around $60,000, opening room for a deeper decline if selling accelerates.
On the daily chart, the Relative Strength Index (RSI) stands at 35, below the neutral 50 mark and sloping downward toward oversold territory, underscoring strengthening bearish momentum. At the same time, the Moving Average Convergence Divergence (MACD) registered a bullish crossover on Sunday that remains in effect, indicating that the broader bullish bias has not been entirely negated.
If BTC continues to attract demand near $65,729, the price could work its way back toward the top of the consolidation range at $71,746.
| Asset | Key Range / Level | Current Indication | Upside Scenario | Downside Scenario |
|---|---|---|---|---|
| BTC/USDT | $65,729 – $71,746 | Trading near lower range at $67,200 | Rebound toward $71,746 if support at $65,729 holds | Drop toward $60,000 on a daily close below $65,729 |
| ETH/USDT | $1,747 – $2,149 | Heading toward lower consolidation boundary | Recovery back toward $2,149 if buyers regain control | Extension lower toward $1,669 on a daily close below $1,747 |
| XRP/USDT | Lower wedge trendline – 50-day EMA | Stabilizing around trendline at $1.42 | Advance toward 50-day EMA at $1.68 if trendline holds | Move down toward $1.30 if price closes below trendline |
Ethereum Nears Range Floor as Correction Persists
Ethereum recently met resistance at the upper boundary of its consolidation zone at $2,149 on Sunday and fell 5.75% that day. Since then, ETH has seen a modest corrective phase this week and is now moving toward the bottom of its range as of Friday.
A daily close under the lower boundary at $1,747 would likely set up a continued decline toward daily support located at $1,669.
Similar to Bitcoin, Ethereum’s RSI is reflecting mounting bearish momentum. Nevertheless, the MACD indicator flashed a bullish crossover on Saturday, which is still intact and suggests that the broader upward bias has not been completely invalidated.
If ETH manages to stabilize and turn higher, it could attempt another push toward the upper consolidation band at $2,149.
XRP Tests Key Trendline After Wedge Break
XRP moved above the lower trendline of a falling wedge pattern on Saturday, then slipped slightly on Sunday, retesting that same trendline as support. Price action has since steadied around this line through the current week. As of Friday, XRP is trading at $1.42.
A daily close below this lower trendline would increase the likelihood of a decline toward weekly support at $1.30.
As with BTC and ETH, XRP is showing mixed technical signals. The RSI is indicating growing bearish pressure, while the MACD continues to point to underlying bullish momentum.
If the trendline continues to act as a solid floor, XRP could extend its recovery toward the 50-day Exponential Moving Average (EMA) at $1.68.
Key Crypto Concepts: Bitcoin, Altcoins, Stablecoins, and Dominance
The article also reiterates several foundational concepts relevant to participants in digital asset markets.
What is Bitcoin?
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
What are altcoins?
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
What are stablecoins?
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
What is Bitcoin Dominance?
Bitcoin dominance is the ratio of Bitcoin’s market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
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