Technical Analysis

Dogecoin slid below $0.10 and $0.0950, printing a low around $0.080 before stabilizing. It remains beneath the 100‑hour simple moving average, with rebounds capped near $0.0950 and $0.10. A failure to clear those zones risks another decline toward $0.0850, $0.0820, and the $0.080 support, while a break higher would target $0.0985 and $0.1050.

In a recent research note, JPMorgan said gold’s more than 60% surge through 2025 contrasted with Bitcoin’s weakness heading into 2026, reducing the crypto’s near-term hedge appeal. The bank’s volatility framework indicates Bitcoin would trade at roughly $266,000 if it matched gold’s risk profile, though it called that level unrealistic this year amid ETF outflows and shrinking stablecoin supply.

Ethereum extended its drop under $2,000 and $1,950, with bears driving the price down toward a $1,744 low before a rebound attempt from around $1,750. The price now trades below $2,000 and the 100-hourly Simple Moving Average, with key resistance clustered near $2,050 and $2,200 and support highlighted around $1,850, $1,800 and $1,750. A sustained move above $2,200 could open the way to $2,350 and higher, while failure to clear $2,050 may trigger another decline toward $1,720 or even $1,680.

Bitcoin extended its slide to a $60,500 low after failing to hold above $72,000, dropping over 10%. It now trades below $68,000 and the 100 hourly simple moving average, with resistance at $66,000 and $67,200. A failure below $62,500 and $61,200 could send price back to $60,500 and the $60,000 support.

Zcash traded around $245 after losing the $300 support level, with price action drifting toward the $240–$244 area that now forms a key short-term floor. If this zone fails to hold, the next potential downside region sits in the $200–$210 band, while any rebound faces resistance between $260 and $280 and a major hurdle at $300.

On Feb. 3, chart analyst Crypto Patel said Dogecoin has revisited the $0.10–$0.06 demand zone, portraying it as re-accumulation and a cycle reset after a steep retrace. He outlined upside targets at $0.50, $1.50 and $4.00 with invalidation on a weekly close below $0.06. Patel also cited prior bursts of +17,000% in 2021 and +600% in 2024; DOGE was at $0.09857 at press time.

Retail credit withdrawals on NEXO fell from $136.63 million in January 2025 to $22.04 million by November, then stabilized near $23.957 million in December 2025 and $23.965 million in January 2026. According to CryptoQuant/X, Aave's ETH borrowing peaked near 1.2 million in mid-2025 before easing toward 300,000 by early 2026, while NEXO broke below $0.901–$0.947.

Heading into early February 2026, Midnight (NIGHT), Hyperliquid (HYPE), and Monero (XMR) are bucking weak altcoin sentiment with accumulation and catalyst-led strength. Midnight's Q1 2026 'Kūkolu' phase was outlined in a January update, while HYPE's CMF turned positive and open interest climbed to $793M around Jan. 26–27. Monero's MFI points to fading sell pressure near $305 after an 11-day, 30% drop.

Crypto market sentiment slid to extreme fear as the Fear and Greed Index printed 11. On 4 February, U.S.-listed Bitcoin ETFs saw about $545m in net withdrawals, while Ethereum funds lost around $79m. Rising volatility and weak price action reinforced a risk-off tone across majors and altcoins.

In November 2021, Bitcoin set an all-time high near $69,000. On February 5, 2026, according to CoinMarketCap, BTC slid toward the low $60,000s and erased those gains as more than $1.5 billion in crypto positions were liquidated in 24 hours. The decline followed a leverage unwind, shifting focus to spot demand and the $60,000 area.