Crypto Majors Steady as Traders Eye Breakout Upside

Key Moments

Bitcoin (BTC) is holding above $67,000 after rebounding from a weekly low of $62,510, with technical indicators showing easing bearish pressure.
Ethereum (ETH) is trading near $2,000 following an 11% midweek rebound from a drop toward $1,747, its lower consolidation boundary.
XRP is steady around $1.40 after bouncing from support near $1.30, with momentum gauges hinting at a waning negative bias.

Consolidation Across Major Cryptocurrencies

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are trading near important technical zones on Friday, reflecting a phase of consolidation following recent swings in volatility. BTC remains above $67,000 despite posting modest weekly losses, while ETH is fluctuating around $2,000 after failing to break higher at the top of its recent range. XRP is hovering at $1.40 after stabilizing around a key support level. Overall, price behavior in these three largest cryptocurrencies by market capitalization points to a cautiously optimistic backdrop as market participants wait for a fresh catalyst that could drive the next leg higher.

Bitcoin Reclaims Ground Within Its Trading Range

Bitcoin price slipped below the lower boundary of its consolidation band at $65,729 on Monday and extended that weakness on Tuesday, marking a daily trough at $62,510. The market then staged a sharp reversal on Wednesday, erasing Monday’s decline and finishing above $67,900. Following that strong move, BTC eased slightly on Thursday and is trading around $67,400 on Friday.

If the recovery persists, BTC could push toward the upper edge of its consolidation zone at $71,746.

The Relative Strength Index (RSI) currently stands at 41, having bounced from oversold territory earlier in the week, signaling that downward momentum is losing strength. For the rebound to gain traction, the RSI would need to rise above the neutral 50 mark. The Moving Average Convergence Divergence (MACD) has generated a bullish crossover that is still in place, pointing to a constructive technical backdrop.

However, if BTC cannot maintain a close above the lower band of the consolidation area at $65,729, selling pressure could resume, potentially driving price back toward Tuesday’s low at $62,510. A daily close below that level could open the door to additional weakness toward a key support area near $60,000.

Asset	Key Levels	Recent Price Action	Momentum Signals
BTC/USDT	Lower range: $65,729 Upper range: $71,746 Support: $62,510, $60,000	Rebounded from $62,510 low to above $67,900 on Wednesday; trades near $67,400 on Friday	RSI at 41, recovering from oversold; MACD bullish crossover intact

Ethereum Pulls Back After Test of Range High

Ethereum price started the week under pressure, falling nearly 6% through Tuesday and approaching the lower boundary of its consolidation structure at $1,747. ETH then advanced more than 11% on Wednesday, retesting the upper band of the range at $2,149 before slipping modestly on Thursday. On Friday, ETH is trading around $2,000.

Should ETH resume its upward path, it could revisit the upper consolidation boundary at $2,149. A daily close above that level could keep the up-move going toward the 50-day Exponential Moving Average (EMA) at $2,363.

In line with Bitcoin, Ethereum’s RSI and MACD indicate that bearish momentum is fading, reinforcing the possibility of further recovery.

Conversely, if ETH weakens again, price could slide back toward the lower limit of the range at $1,747.

Asset	Key Levels	Recent Price Action	Momentum Signals
ETH/USDT	Lower range: $1,747 Upper range: $2,149 50-day EMA: $2,363	Dropped nearly 6% into Tuesday; rebounded over 11% to retest $2,149; trades near $2,000 on Friday	RSI and MACD show waning bearish momentum

XRP Holds Support After Falling Wedge Breakdown

XRP price closed below the lower trendline of a falling wedge pattern on Monday and saw a mild follow-through decline on Tuesday, moving closer to weekly support at $1.30. On Wednesday, XRP gained more than 6% before easing slightly on Thursday. As of Friday, XRP is trading around $1.40.

If the lower trendline begins to act as support, XRP may extend its rebound toward the psychologically important $1.50 level.

Similar to BTC and ETH, XRP’s momentum indicators point to a reduction in bearish bias, which supports the case for continued recovery.

On the downside, failure to hold the trendline as support could lead XRP to revisit weekly support near $1.30. A close below that area may pave the way for further declines toward the February 6 low at $1.11.

Asset	Key Levels	Recent Price Action	Momentum Signals
XRP/USDT	Weekly support: $1.30 Psychological level: $1.50 Key low: $1.11 (February 6)	Dropped toward $1.30 support on Tuesday; rebounded over 6% on Wednesday; trades at $1.40 on Friday	Indicators suggest fading bearish bias

Key Cryptocurrency Metrics Explained

Circulating Supply

The total number of tokens that can be created for a given cryptocurrency is determined by its developer or creator and encoded in the blockchain’s algorithm. Only a predefined portion of these tokens can be brought into existence through mechanisms such as mining, staking, or other issuance methods. Circulating supply can also shrink through token-burning processes or by tokens being accidentally sent to incompatible blockchain addresses.

Market Capitalization

Market capitalization is calculated by multiplying an asset’s circulating supply by its current market price.

Trading Volume

Trading volume measures how many tokens of a specific asset change hands between buyers and sellers within a defined period, such as 24 hours. It aggregates activity across centralized and decentralized exchanges and is often used as an indicator of market interest, with rising volumes typically reflecting greater participation in buying and selling.

Funding Rate

Funding rates are designed to keep perpetual futures prices aligned with spot market prices. They represent periodic payments between traders that ensure futures prices and index prices converge regularly. When the funding rate is positive, perpetual contract prices are above the mark price, so traders holding long positions pay those with short positions. When the rate is negative, perpetual prices are below the mark price, and traders with short positions pay those holding long positions.