Bitcoin's Bullish Potential Amidst Sideways Trading

Bitcoin (BTC) and other major cryptocurrencies have been trading in a sideways range, with Bitcoin briefly rallying above $96,500 on Feb. 9 before retreating. CryptoQuant CEO Ki Young Ju and contributing analyst Timo Oinonen have both suggested that Bitcoin could remain in a bull phase even with a significant drop, based on historical cyclical patterns. Meanwhile, some analysts are turning positive on Ether (ETH), with Santiment analysts noting that only 6.38% of Ether's available supply remains on exchanges, reducing the possibility of a significant sell-off.

Bitcoin price analysis indicates that the BTC/USDT pair could plunge to the $90,000 support if it turns down from the 20-day exponential moving average (EMA). However, if buyers push the price above the 50-day simple moving average (SMA), the pair could ascend to $102,500 and subsequently to $106,500. Ether price analysis shows that the ETH/USDT pair may climb to $3,400 if buyers push the price to the downtrend line and find support at the 20-day EMA. However, if the price turns down and breaks below $2,500, the pair could decline to $2,300.

XRP (XRP) is witnessing a tough battle between the bulls and the bears near the moving averages. If the price turns down from the moving averages, the XRP/USDT pair could collapse to the solid support at $1.77. However, if the price rises and breaks above the moving averages, the pair could rally to the downtrend line. Solana (SOL) plunged and closed below the $175 support on Feb. 18, indicating the start of a deeper correction. However, buyers are unlikely to give up easily and may try to push the price back above $175.

BNB (BNB) is attempting to rebound off the $635 support, signaling solid demand at lower levels. The relief rally is expected to face selling at the 50-day SMA ($670). If buyers push and maintain the price above the 50-day SMA, the BNB/USDT pair could swing between $745 and $635 for a few