Technical Analysis for February 5: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR

Bitcoin (BTC) once showed hope of recovery when it climbed to $73,221, but the buying pressure from the bulls was quickly extinguished. Strong profit-taking at higher levels created conditions for the bears to take control, pushing BTC below the $72,169 support level. In a note released on Monday, Mr. Alex Thorn – Head of Research at Galaxy Digital – warned that Bitcoin could continue to plunge toward the realized price around $56,000 in the coming weeks, as the market lacks catalysts strong enough to reverse the trend.

However, the picture is not entirely bleak. Some experts still believe that a bottom may soon emerge. On X, Bitwise Investment Director Matt Hougan expressed optimism that the cryptocurrency market is likely to “recover strongly sooner than expected.”

Nevertheless, historical data suggests that BTC’s recovery path could be prolonged. Analyst Brett noted that Bitcoin closed below the 100-week simple moving average (SMA) — a signal historically associated with prolonged weakness phases. In the past, whenever BTC lost the 100-week SMA, prices typically “stayed” below this line for 182 to 532 days. The rare exception was during the swift crash caused by COVID-19 in 2020, when BTC only took 35 days to regain this critical technical level.

So, can Bitcoin and the top altcoins initiate a short-term technical rebound, or will selling pressure continue to break through key support zones? Let’s analyze the charts of the 10 largest cryptocurrencies to find the answer.

Technical Analysis of BTC

The bulls are struggling to keep BTC above the important support zone of $74,508, indicating fierce selling pressure from the bears.

Daily BTC/USDT Chart | Source: TradingView If Bitcoin’s price continues to decline and drops below $72,945, it signals that the downtrend is resuming. In that case, the BTC/USDT pair could plunge toward the strong support at $60,000.

The Relative Strength Index (RSI) is in the oversold zone, suggesting that short-term selling pressure may have been overextended. This increases the likelihood of a technical rebound, which could accelerate if the price closes above the resistance at $79,500. If that happens, BTC could recover to the previous breakout zone around $84,000.

Technical Analysis of ETH

Ether (ETH) found support at the key level of $2,111 on Tuesday, but the weak bounce indicates that the bulls are not ready for a strong buy-in.

Daily ETH/USDT Chart | Source: TradingView The bears are attempting to continue the downtrend by pushing ETH below the support zone of $2,111. If successful, the ETH/USDT pair could fall sharply to $1,750.

The RSI in the oversold zone suggests a short-term technical rebound is possible. The price could rise to the 38.2% Fibonacci retracement level at $2,467, followed by the 20-day EMA around $2,712. A close above the 20-day EMA would be a sign that the bulls are returning to the market.

Technical Analysis of BNB

BNB (699.60 USD) continues to trade below the $790 mark, increasing the risk of falling below the $730 zone.

Daily BNB/USDT Chart | Source: TradingView If BNB’s price closes below $730, it indicates that the bears have turned the $790 zone into resistance. The BNB/USDT pair could then drop to $700 and subsequently to $645.

Time is running out for the bulls. They need to successfully defend the $730 level and quickly push the price above the $790 resistance to prevent further decline. If successful, the price could recover to the 20-day EMA around $839.

Technical Analysis of XRP

The inability of the bulls to sustain XRP above $1.61 shows that the bears are continuously selling during short-term rallies.

Daily XRP/USDT Chart | Source: TradingView The bears will try to pull XRP below the support line of the descending channel pattern. If successful, the XRP/USDT pair could retest the October 10, 2025, low at $1.25.

Conversely, the bulls need to push the price above the 20-day EMA (1.79 USD) to indicate that the price may continue to oscillate within the channel for some more time. A close above the downtrend line would signal a short-term trend reversal.

Technical Analysis of SOL

The bulls’ failure to push Solana (SOL) above $107 triggered a new wave of selling, dragging the price below the key support zone of $95.

Daily SOL/USDT Chart | Source: TradingView If SOL’s price closes below $95, it signals that the next phase of decline has begun. The SOL/USDT pair could plunge to $79.

On the other hand, if the price rebounds and breaks above $107, it suggests that the breakdown below $95 might have been a “bear trap.” The price could then rise to the 20-day EMA around $117, where the bears are likely to return to sell. The bulls need to cross the moving averages to show that the downward momentum is weakening.

Technical Analysis of DOGE

Dogecoin (DOGE) is attempting to recover, but the weak bounce indicates that the bears still maintain pressure.

Daily DOGE/USDT Chart | Source: TradingView If DOGE’s price turns down from the current zone or from the 20-day EMA (0.12 USD) and breaks below $0.10, it signals that the downtrend is resuming. The DOGE/USDT pair could then quickly fall to $0.08.

Conversely, if the price rises and moves above the moving averages, it shows that the market has rejected the breakdown below $0.12. In that case, DOGE could recover to the $0.16 zone.

Technical Analysis of ADA

Cardano (ADA) is trying to bounce from the descending channel support line, but the recovery lacks momentum.

Daily ADA/USDT Chart | Source: TradingView If ADA’s price turns down from the current zone or from the 20-day exponential moving average (EMA) at $0.33, it indicates that the bears still have the upper hand. Sellers will then try to push ADA/USDT below the support line and extend the decline toward $0.20.

If the bulls push the price above the 20-day EMA, the pair could head toward the downtrend line. A close above the downtrend line would open the possibility for a strong rally to the $0.50 zone, which was the previous breakout level.

Technical Analysis of BCH

Bitcoin Cash (BCH)’s recovery faces strong resistance around the 50% Fibonacci retracement at $535, indicating active bear participation at higher levels.

Daily BCH/USDT Chart | Source: TradingView Sellers will try to push BCH below the critical support at $497. If this level is broken, BCH/USDT could decline to $467, and even further to $443.

On the upside, if the bulls push the price above $544, the pair could rise to the 20-day EMA at $562. Although bears are expected to defend this level strongly, a bullish breakout could see the price heading toward $604.

Technical Analysis of HYPE

Hyperliquid (HYPE) broke above the resistance at $35.50 on Tuesday. However, the long wick indicates strong selling pressure at higher levels.

Daily HYPE/USDT Chart | Source: TradingView If the bulls do not allow a deep correction, the probability of a decisive break above $35.50 increases. The HYPE/USDT pair could then surge past $44, signaling that the correction phase may be over.

Conversely, if the price of Hyperliquid sharply reverses from the current zone and breaks below the 20-day EMA at $28.79, it suggests the pair could continue to oscillate between $35.50 and $20.82 for some time.

Technical Analysis of XMR

Monero (XMR) is trying to hold support at $360, but the rebound is likely to face selling pressure at $412, followed by the 20-day EMA at $461.

Daily XMR/USDT Chart | Source: TradingView If Monero’s price turns down from the current zone or from the resistance levels above, it indicates that market sentiment remains negative and traders continue to sell on rallies. The $360 support level may then be at risk of breaking, with the next support zone at $320.

On the other hand, if the bulls push the price above the 20-day EMA, XMR/USDT could rise toward the $500 zone. However, significant selling is expected at this level. After a sharp decline, prices often consolidate for a period before establishing a new trend.