The price of Ethereum (one of the top altcoins) has been exhibiting positive signs and has managed to surpass the crucial support level of $2,850. Currently, Ethereum is trading above both the $2,850 mark and the 100-hourly Simple Moving Average, which indicates a bullish sentiment in the crypto market. On the hourly chart of ETH/USD, there is a notable bullish trend line forming with a support level of $2,910. Looking at the upside potential, the immediate resistance level is situated around $2,940. If Ethereum manages to surpass this resistance, the next major hurdle awaits at $2,985. A successful break above this level could potentially lead to a test of the $3,000 resistance zone. Should the bulls push the price past $3,050, Ether may experience a rally toward the $3,120 resistance level. In such a scenario, the price might even reach the $3,250 mark in the near term, and further gains could test the $3,350 level. Source: NEWSBTC

Bitcoin’s price has the potential for further gains as it is attempting to surpass the $52,800 resistance level to continue its upward movement. The price has already broken above the $52,000 level and the 100 hourly Simple Moving Average. Additionally, a bearish trend line was breached, indicating a positive trend. If Bitcoin clears the $52,800 resistance, it could rally toward $53,200 and reach the $54,000 and $55,000 resistance levels. However, if it fails to break the resistance, a downside correction may occur, with support levels at $51,850 and $51,300. The technical indicators, such as the MACD and RSI, suggest a bullish trend for Bitcoin in the near term. Source: NEWSBTC

Bitcoin exchange-traded funds (ETFs) experienced significant net inflows of $2.2 billion between February 12 and February 16. This inflow surpassed the inflows received by any other ETF in the United States. BlackRock’s IBIT fund received the majority of the capital, accumulating $1.6 billion during the week. Fidelity’s FBTC, Ark 21Shares’ ARKB, and Bitwise’s BITB also attracted substantial inflows. However, Grayscale’s GBTC saw outflows of $624 million, as investors moved to other products with lower fees. The approval of these ETFs by the U.S. Securities and Exchange Commission (SEC) is believed to have contributed to Bitcoin’s recent price gains. The cryptocurrency has risen by 91% over the past four months. Major banks and financial institutions have also shown interest in these new ETFs, with a trade group coalition requesting modifications to accounting guidelines to allow banks to act as custodians of BTC funds. Source: COINTELEGRAPH

DOGE (one of the top altcoins)has been gaining momentum and is trading above the $0.085 zone. It has surpassed several resistance levels, including a key contracting triangle at $0.0820. The price of DOGE is currently consolidating its gains after reaching a high near $0.0883. In terms of predictions, if DOGE continues its upward trend, it could face resistance near $0.0880 and $0.0920. A close above the $0.0920 level may push the price toward the $0.095 resistance, and further gains could even bring it to the $0.100 and $0.120 levels. However, a downside correction is possible if the price fails to sustain its upward movement. Initial support is expected near $0.0860, followed by $0.0840, which is the 50% Fibonacci retracement level. Further downside movement could lead to a decline towards the $0.0820 level. The MACD indicator suggests a loss of bullish momentum, while the RSI is above the 50 level, indicating positive market sentiment. The major support levels are at $0.086, $0.084, and $0.082, while the major resistance levels are at $0.088, $0.092, and $0.10. Source: NEWSBTC

The Ethereum price is currently consolidating above the $2,575 support level. It could trigger a significant rally if it manages to close above the $2,700 resistance. Ethereum has been trading above $2,620 and the 100-hourly Simple Moving Average. There is a short-term breakout pattern forming with resistance at $2,640. If the price stays above the $2,575 support, it may experience a fresh increase. On the upside, the immediate resistance is at $2,640, followed by major resistance levels at $2,680 and $2,720. Ethereum (one of the top 10 altcoins) could even rise toward the $2,800 and $3,000 levels if the bullish momentum continues. However, there could be another decline if it fails to clear the $2,640 resistance. The initial support on the downside is at $2,620, followed by $2,600. Further support levels are at $2,575 and $2,550. Source: NEWSBTC

The price of Solana (SOL) has surged to $115, and there is potential for another 10% rally. SOL started a fresh upward movement from the $95 support level against the US Dollar. It is currently trading above $105 and the 100 simple moving average on the 4-hour chart. A key bullish trend line is forming with support at $109.20. If SOL (one of the top 10 altcoins) clears the resistance levels at $115 and $118, it could continue its rally. Immediate resistance is at $115, followed by $118 and $125. On the downside, initial support is at $112.20, and the major support levels are $109.20, $102.20, and $105. The MACD indicator and RSI are both showing bullish signals. SOL initiated a fresh upward movement after finding support at the $95 level against the US Dollar. The price has successfully surpassed the $105 mark and is currently trading above the 100 simple moving average on the 4-hour chart, indicating a positive trend. Additionally, a crucial bullish trend line is forming with support at $109.20, further bolstering the bullish case for SOL.  In summary, the price of Solana (SOL) has witnessed a substantial surge and shows potential for further gains. With strong bullish momentum, SOL has surpassed key resistance levels and is currently trading above the 100 simple moving average. The presence of a bullish trend line further strengthens the positive outlook.  Source: NEWSBTC

According to a popular cryptocurrency analyst, XRP, the native token of the XRP Ledger, is currently testing a multi-year trendline. Historical data suggests that this could cause the price of XRP to surge between 39x and 650x within a year. However, the price of XRP has declined by over 11% in the past month and over 19% in the last six months, indicating that it is struggling to recover. #XRP – Last two times we tested the 10-year trendline, $XRP 39x – 650x in price w/in a year! We are now testing multi-year trendline! Can we bounce off trendline to finally break structure?! Do NOT "KNOW WHAT YOU HOLD", 🤦‍♂️🤣we taking "calculated profits!" RT/Like for updates!… pic.twitter.com/flIQcDh4Ls — JD 🇵🇭 (@jaydee_757) February 3, 2024 Other analysts have also made bullish predictions for XRP, suggesting that investors should view price dips as buying opportunities if they tend to invest in this token. These analysts believe that if XRP continues to trade within a specific symmetrical triangle pattern, it could surge to $22. The symmetrical triangle pattern was formed in 2017, and a potential bull run is anticipated if XRP breaks the pattern with an upward movement. It is worth noting that large XRP token holders have been accumulating the cryptocurrency, and they now control 67.2% of its circulating supply, the highest amount since December 31, 2022. However, another analyst has pointed out that XRP is breaking down on a three-year consolidation pattern. This price drop occurred shortly after Ripple Chairman Chris Larsen confirmed that over $120 million worth of XRP were taken from his personal accounts. In addition, the XRP Ledger has approved the launch of a built-in automated market maker (AMM) trading platform, allowing XRP token holders to earn income on-chain. Source: CRYPTOGLOBE

The price of ETH is struggling to break above the $2,350 resistance level and is consolidating around $2,250. If it manages to clear the resistance zone, it could start a decent increase. On the upside, the key resistance levels are $2,325, $2,350, and $2,380. However, if it fails to break the resistance, ETH might experience another decline. At present, Ethereum is facing challenges in gaining traction for a move above the $2,350 zone. However, it is still trading above the $2,300 mark and the 100-hourly Simple Moving Average, indicating some positive momentum. On the hourly chart of ETH/USD, a short-term rising channel is forming with resistance near $2,350. The immediate support levels are $2,280 and $2,240, with the main support at $2,120. In addition, technical indicators like MACD and RSI, which indicate bearish momentum and RSI above the 50 level, respectively. Source: NEWSBTC