Technical Analysis

On February 10, 2026, Ethereum Classic traded near $8.30, down nearly 3% in early US afternoon after an altcoin sell-off that had driven it to about $7.40 on February 5. CryptoQuant analysts warned the bear phase may be early as Bitcoin hovers near $68,000 and Ethereum remains around $2,000.

Bitcoin is forming a major liquidity cluster between the $72,000–$80,000 range, with an additional notable cluster near $67,000–$68,000. Current price action around $68,500 suggests bears still dominate, but liquidation data indicates short positions in the higher band could face pressure if bulls drive a short-term recovery.

Bitcoin fell to $59,930 on Friday, its lowest level since October 2024, in what Kaiko Research describes as a possible halfway point in the present bear market. The firm notes a 32% correction since the 2024 halving, shrinking spot volumes and reduced futures open interest, while analysts remain divided on whether $60,000 marks a cycle low or if further downside toward $40,000–$50,000 is needed to align with past drawdowns.

Glassnode data show the Bitcoin Mayer Multiple fell to 0.65 as of Monday, a level last seen in May 2022 and below the 0.8 oversold band. On Tuesday, On-Chain College said this aligns with deep bear-market phases, while analysts mapped potential supports near the $58,000 200-week MA and, in extreme cases, toward $40,000.

Ethereum is trading in a pronounced downward channel after a capitulation move from the mid-$2,000 area into the $1,800 demand zone, with momentum indicators still in bearish territory despite a modest rebound. On higher timeframes, key resistance sits around $2,300–$2,700, while shorter-term charts highlight a consolidation band between $1,800 and $2,100 and potential downside toward $1,600 if support fails. On-chain data show the exchange supply ratio near 0.135, indicating relatively little ETH on centralized venues and hinting at thinner spot liquidity even as prices have corrected.

Bitcoin slid to $60,000 last week before snapping back nearly 19% to $71,469, then eased to about $68,800 by Tuesday. On February 10, 2026, Santiment noted extreme fear and a surge in "buy the dip" chatter at the bottom, while CoinGlass reported roughly $1.3 billion in long liquidations. Analyst IT Tech cited $2.6 billion in 30-day net outflows and weakening demand.

Between Jan 22 and Feb 6, Bitcoin network difficulty decreased 14.1%, while publicly listed miner Cango disclosed a weekend sale of 4,451 BTC for about $305M. Miner exchange inflows have stayed near a 30‑day average of 82 BTC, pointing to localized balance‑sheet moves as profitability metrics soften.

On Feb. 9, Glassnode said XRP dropped below its aggregate holder cost basis as its 7‑day EMA SOPR fell from 1.16 in July 2025 to 0.96, signaling broad loss realization. The firm likened the pattern to Sep 2021–May 2022, a phase marked by capitulation and consolidation rather than swift recovery. At press time, XRP traded at $1.4225.

ADA slid over 10% in the past week, moving from near $0.30 to $0.23 before consolidating around $0.26. According to Alphractal founder Joao Wedson, ADA open interest fell from $1.6 billion to $334 million, and by 2026 its exchange distribution shifted to Binance at 22% and Gate.io at 31%.

On February 9, analyst DavidTheBuilder said a decisive break above $2.70–$3 could flip XRP’s structure, opening room toward $5 and possibly $7. At press time, XRP traded at $1.43, up 1% daily but down over 11% weekly, while still below its 50-day ($1.89) and 200-day ($2.40) moving averages.