Technical Analysis

On 31 January, Ethereum dropped 17.38% from the day's open at $2,702 and later traded near $2,219. According to CoinMarketCap, broader risk appetite weakened as BTC fell over daily and weekly periods and the Fear & Greed Index printed 15. The analysis highlights $2,147 as a crucial retracement level, with $2,000 and $1,383 marking potential downside triggers.

XRP extended its decline, slipping under $1.60 and consolidating near a $1.50 low. On the hourly XRP/USD chart using Kraken data, a bearish trend line caps rebounds around $1.650, with the price still below the 100-hour Simple Moving Average. Failure to reclaim $1.60–$1.650 could keep pressure toward $1.540 and $1.50.

On February 2, 2026, XRP traded at $1.59–$1.61 after a 3–4% daily drop and a 12–16% weekly slide, with roughly $4 billion in 24‑hour volume. Bears are eyeing support near $1.55 and resistance at $1.65–$1.68, while RSI hovers around 30. XRP ETFs saw $16.79 million in net inflows on January 30.

Bitcoin has fallen more than 10%, sliding from above $82,500 to trade under $80,000 and its 100-hour simple moving average. The BTC/USD pair now faces resistance around $79,200, while analysts are watching support levels at $75,000 and a key downside target near $70,000. A move above $79,200 and then $82,000 could open the way for a rebound, but failure may leave the $72,000–$70,000 area exposed.

BONK resumed its broader downtrend after an early-January breakout failed to hold, with the token dropping sharply over the past week. The memecoin sector also weakened, and key BONK levels near $0.00000755–$0.00000785 are in focus for a potential short-term retest before further downside.

Bitcoin has slipped into a bearish setup after dropping below the key $82,000 low from November 2025, with the price recently trading around $78,560 and touching $77,082 in the last 24 hours. Crypto analyst XForceGlobal argues that this breakdown invalidates the prior bullish Elliott Wave structure and forces a new corrective wave count. His updated scenarios outline two distinct bearish paths that both point toward potential downside targets near the $60,000 area before any larger recovery unfolds.

Story Protocol's token IP fell about 18% over the past 24 hours as derivatives flows turned decisively risk-off. Roughly $17 million exited IP perpetuals and open liquidity slid to $68.93 million, while total liquidations reached about $1.19 million and funding turned negative. Price is tracking a $1.7–$1.0 support band and hovering near the mid-range around $1.4, with the $1 low from February 2025 back in view.

On 24 January, Nietzschean Penguin (PENGUIN) spiked from under $0.01 to a $0.167 all-time high before sliding about 75% to the $0.037–$0.042 area. A wallet "8cgRT" exited with a $92,700 loss after $305,300 in buys as momentum reversed. Fixed 1 billion supply and over 45,000 holders by late January 2026 did not halt the decline.

On February 1, 2026, Bitcoin slid toward the 77,000 dollar area, testing a key support after several weeks of declines. The 24 hour snapshot showed BTC at 77,028 dollars, down 0.98 percent. Michael Saylor hinted at continued accumulation and said Strategy would not be liquidated even if prices fall further.

Over the past week, Bitcoin moved toward $78K while Ethereum weakened, according to AMBCrypto. Select altcoins diverged: Hyperliquid rallied from the low $20s to test $32-$34, Canton advanced about 29%, and Stable spiked to $0.026 before easing to $0.023. Meanwhile, Solana fell ~15% and WLFI dropped ~26%.