Bitcoin (BTC) struggled to surpass the $100,000 mark on February 21 and 23, hovering below $95,500. Prolonged consolidation increases the likelihood of a drop to the critical $90,000 support level. Analysts remain divided on Bitcoin's next major move, with some predicting [a rally as early as next month](https://www.okx.com/join/BLOCKSTAR), while others anticipate a dip to $85,000 before recovery.
Altcoin Season Gains Traction
Bitcoin's uncertain price action may drive traders toward altcoins. CryptoQuant CEO Ki Young Ju noted on X: "Altseason has begun." Unlike previous cycles, stablecoin holders are now favoring altcoins over direct Bitcoin rotations. Young Ju emphasized that altcoin trading volume defines the season, currently outpacing Bitcoin by 2.7x.
Ether (ETH), the leading altcoin, saw a $14 million inflow on Bybit Exchange post-hack. Ethereum whales (holding 10K–100K ETH) accumulated $140M worth of ETH during this period.
👉 Explore top-performing altcoins
Bitcoin Price Analysis
BTC faced rejection at the 50-day SMA ($98,933) on February 21, signaling bearish defense.
Daily Chart (BTC/USDT):
Key Levels:
- Support: $93,388 → $90,000
- Resistance: 50-day SMA → $102,500 → $106,500
- RSI: Below midpoint, indicating bearish edge.
- Double-top risk if $90,000 support fails.
4-Hour Chart:
- Flat moving averages and negative RSI reflect equilibrium.
- Breakdown below $93,388 may test $90,000.
- Bullish reversal requires a close above $100,000.
Ethereum Price Analysis
ETH reclaimed the 20-day EMA ($2,775) on February 23, suggesting renewed bullish momentum.
Daily Chart (ETH/USDT):
- Resistance: Descending trendline → $2,850 → $3,332 → $3,525.
- Support: $2,500 (breach invalidates uptrend).
4-Hour Chart:
- Rising 20-EMA and positive RSI favor bulls.
- Break above trendline could target $3,000 → $3,437.
BNB Price Analysis
BNB battles sellers at the 50-day SMA ($666).
Daily Chart (BNB/USDT):
- Range: $460–$745 (breakout target).
- Immediate Resistance: $686 → $745.
- Support: $635 → $596.
4-Hour Chart:
- Consolidation between $635–$680.
- Break above $686 may fuel rally to $732.
Monero (XMR) Price Analysis
XMR faces stiff resistance at $245.
Daily Chart (XMR/USDT):
Key Levels:
- Support: 7-day EMA ($228) → 50-day SMA ($219).
- Resistance: $245 → $290.
4-Hour Chart:
- Range-bound between $226–$245.
- Break above $245 signals uptrend continuation.
Bittensor (TAO) Price Analysis
TAO struggles at $500 resistance.
Daily Chart (TAO/USDT):
- Bullish Scenario: Hold 20-day EMA ($404) → retest $500 → $600.
- Bearish Scenario: Drop to $346 if EMA fails.
4-Hour Chart:
- Head-and-shoulders pattern forming; breakout above $500 targets $600.
FAQ Section
Q1: Is altcoin season confirmed?
Yes, CryptoQuant data shows altcoin volumes 2.7x Bitcoin's, signaling altseason.
👉 Learn how to capitalize on altseason
Q2: What’s Bitcoin’s critical support?
$90,000 is the make-or-break level; a breakdown could trigger deeper corrections.
Q3: Why is ETH rising post-hack?
Whale accumulation ($140M) and exchange inflows ($14M) drove momentum.
Q4: Can XMR break $245 resistance?
A close above $245 with volume could propel XMR to $290.
Q5: What’s TAO’s upside potential?
A clean break above $500 may rally TAO to $600 (head-and-shoulders target).
Disclaimer: This article does not constitute investment advice. Conduct independent research before making financial decisions.