Observing technical analysis for Bitcoin, Ethereum and Solana
Cryptocurrencies are struggling after rejecting early-year rebound attempts.
Risk sentiment remains weak even as equities hover near all-time highs: Investors are reducing exposure to risk-sensitive assets, mirroring the underperformance in semiconductor and tech sectors as high-beta capital rotates back into hardware.
Digital assets faced significant headwinds at the end of 2025, lagging behind most other asset classes – These negative flows still continue to weigh on the sector.
MicroStrategy (MSTR), a key figure in the previous bull run, is now under scrutiny as its Bitcoin holdings near the breakeven point, with an average cost basis of approximately $76,000.
As noted in our year-end analysis, the total Cryptocurrency Market Capitalization is breaking support after previously holding its long-term upward trendline, signaling potential for further downside – Keep an eye on the $2 Trillion mark!
Crypto total Market Cap Monthly Chart – Source: TradingView
Cryptocurrencies are inherently volatile.
Historically, the best investment opportunities arise when interest and mentions are low, while peak popularity often signals a time to take profits.
Currently, the market remains active with traders attempting to buy dips, suggesting sentiment has not yet fully washed out.
Given the bearish short-term outlook, patience is advisable.
Letting prices and hype cool down while waiting for a more favorable macro setup may offer better entry points – Still, the large corrections already favor better entries compared to peak prices from mid-2025.
This is when starting DCA strategies could start to make sense.
Current Session in Cryptos – February 2, 2026 (15:23). Source: FInviz
Following a disastrous weekend session, altcoins are seeing a timid recovery but remain well below last week’s levels. Most of the main names are green on the day and the biggest gains stand around 5%.
Let’s dive right into the Daily Charts and technical levels for Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).
Bitcoin (BTC) 4H Chart, February 2, 2026 – Source: TradingView
Bitcoin freshly retested its Liberation Day lows ($74,500) and is rebounding timidly from that level.
With the painful action from the weekend, it is rough to say that dip-buying is looking like a favorable setup – At least for now.
A bullish push above $80,000 and daily close above the level relaunches positive prospects for Bitcoin and the rest of the Crypto Market.
Consolidating below the key psychological level could lead to further downside, with the next Main support at $63,000 (Minor support at $70,000).
Ethereum (ETH) 4H Chart, February 2, 2026 – Source: TradingView
Ethereum gave back its early 2026 positive setup, having broken first its $3,000 handle before giving up all of its Mid-2025 explosion throughout last week.
Its overnight wick retested ETH’s pre-June War Support zone ($2,100 to $2,300) with the action remaining fragile at that level.
Traders will want to see a high volume and positive candle, preferably after a double bottom for the action to turn more positive – For now, expect consolidation near support.
Solana got subject to quite some heavy selling, representing the rest of the Altcoin market in its struggles.
Now facing a very important test at its $100 Liberation Day support, traders will want to watch if bulls can retake control after the 57% retracement from its 2025 peak.
Repassing above $115 would turn the momentum from bearish to neutral-bullish on short-timeframe.
