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Bitcoin Falls To New 2026 Low, Altcoins Crumble: Is $56K BTC Next?

CryptoExpert by CryptoExpert
February 5, 2026
in Altcoin News
0
Bitcoin Falls To New 2026 Low, Altcoins Crumble: Is $56K BTC Next?
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Key points:

Bitcoin remains under pressure as the bears attempt to hold the price below the crucial $74,508 level.

Several major altcoins are struggling to bounce off their support levels, increasing the likelihood of the resumption of the downtrend.

Bitcoin (BTC) bulls attempted to start a recovery, but the bears sold at higher levels and pulled the price below $72,169. Galaxy Digital research lead Alex Thorn said in a note on Monday that BTC may plunge to its realized price of $56,000 over the coming weeks due to the lack of catalysts to reverse the trend.

okex

Not everyone is bearish on BTC as select analysts anticipate a bottom soon. Bitwise chief investment officer Matt Hougan said in an article on X that the crypto markets are likely to “come roaring back sooner rather than later.” 

Crypto market data daily view. Source: TradingView

However, according to one historical pattern, BTC’s recovery may take time. Crypto proponent Brett said in a post on X that BTC has closed below the 100-week simple moving average (SMA). During previous instances of a break below the 100-week SMA, BTC stayed below the level for 182 to 532 days. The only outlier was the 2020 COVID-19 flash crash when BTC rose back above the 100-week SMA in 35 days.

Could BTC and the major altcoins start a relief rally, or will the support levels give way? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Buyers are struggling to hold BTC above the critical $74,508 support, indicating aggressive selling by the bears.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

If Bitcoin price continues lower and slips below $72,945, it signals the resumption of the downtrend. The BTC/USDT pair may then collapse to the strong support at $60,000.

The relative strength index (RSI) is in the oversold zone, suggesting that the selling may have been overdone in the near term. That increases the likelihood of a relief rally, which may pick up pace on a close above the $79,500 resistance. If that happens, the pair may rally toward the breakdown level of $84,000.

Ether price prediction

Ether (ETH) took support at the crucial $2,111 level on Tuesday, but the shallow bounce suggests a lack of aggressive buying by the bulls.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The sellers are attempting to resume the downtrend by pulling the Ether price below the $2,111 support. If they manage to do that, the ETH/USDT pair may plummet to $1,750.

The RSI in the oversold zone points to a possible relief rally in the near term. The pair may rise to the 38.2% Fibonacci retracement level of $2,467 and then to the 20-day exponential moving average (EMA) ($2,712). A close above the 20-day EMA suggests that the bulls are back in the game.

BNB price prediction

BNB (BNB) continues to trade below the $790 level, increasing the risk of a drop below the $730 level.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

If the BNB price closes below the $730 level, it signals that the bears have flipped the $790 level into resistance. The BNB/USDT pair may plunge to $700 and subsequently to $645.

Time is running out for the bulls. They will have to defend the $730 level and swiftly push the price above the $790 resistance to prevent the downward move. The pair may then climb to the 20-day EMA ($839).

XRP price prediction

The failure of the bulls to maintain XRP (XRP) above the $1.61 level shows that the bears are selling on minor relief rallies.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will attempt to sink the XRP price below the support line of the descending channel pattern. If they can pull it off, the XRP/USDT pair may retest the Oct. 10, 2025, low of $1.25.

On the upside, the bulls will have to drive the price above the 20-day EMA ($1.79) to suggest that the pair may remain inside the channel for some more time. A close above the downtrend line signals a potential short-term trend change.

Solana price prediction

The failure of the bulls to push Solana (SOL) above the $107 level renewed selling, pulling the price below the crucial $95 support.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

If the Solana price closes below $95, it signals the start of the next leg of the downtrend. The SOL/USDT pair may then tumble to $79.

Contrary to this assumption, if the price turns up and breaks above $107, it suggests that the break below the $95 level may have been a bear trap. The pair may then rise to the 20-day EMA ($117), where the bears are expected to step in. Buyers will have to clear the moving averages to indicate that the bearish momentum is weakening.

Dogecoin price prediction

Dogecoin (DOGE) is attempting to start a recovery, but the shallow bounce shows that the bears continue to exert pressure. 

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the Dogecoin price turns down from the current level or the 20-day EMA ($0.12) and breaks below $0.10, it signals the resumption of the downtrend. The DOGE/USDT pair may then nosedive to the $0.08 level.

Contrary to this assumption, if the price turns up and breaks above the moving averages, it signals that the market has rejected the break below the $0.12 level. The pair may then rally to $0.16.

Cardano price prediction

Cardano (ADA) is attempting to bounce off the support line of the descending channel pattern, but the relief rally lacks strength.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

If the Cardano price turns down from the current level or the 20-day EMA ($0.33), it suggests that the bears retain the advantage. Sellers will then again attempt to sink the ADA/USDT pair below the support line and extend the decline to $0.20.

Contrary to this assumption, if buyers push the price above the 20-day EMA, the pair may reach the downtrend line. A close above the downtrend line opens the gates for a rally to the breakdown level of $0.50. 

Related: Bitcoin’s $68K trend line seen as potential BTC price floor: Traders

Bitcoin Cash price prediction

Bitcoin Cash’s (BCH) recovery is facing resistance near the 50% retracement level of $535, indicating that the bears are active at higher levels.

BCH/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will attempt to pull the Bitcoin Cash price below the $497 level, which is an important level to watch out for. If the level gives way, the BCH/USDT pair may descend to $467 and then to $443.

Contrarily, if buyers drive the price above $544, the pair may jump to the 20-day EMA ($562). Sellers are expected to mount a strong defense at the 20-day EMA, but if the bulls prevail, the pair may rise toward $604.

Hyperliquid price prediction

Hyperliquid (HYPE) pierced the $35.50 resistance on Tuesday but the long wick on the candlestick shows selling at higher levels.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

If buyers do not give up much ground to the bears, the prospects of a break above the $35.50 level increase. If that happens, the HYPE/USDT pair may surge to $44. Such a move signals that the corrective phase may be over.

Instead, if the Hyperliquid price turns down sharply from the current level and breaks below the 20-day EMA ($28.79), it suggests that the pair may continue to oscillate between $35.50 and $20.82 for a while longer.

Monero price prediction

Monero (XMR) is attempting to take support at the $360 level, but the relief rally is likely to face selling at $412 and then at the 20-day EMA ($461).

XMR/USDT daily chart. Source: Cointelegraph/TradingView

If the Monero price turns down from the current level or the overhead resistance, it signals that the sentiment remains negative and traders are selling on rallies. That puts the $360 level in danger of breaking down. The next support on the downside is at $320.

On the contrary, if buyers push the price above the 20-day EMA, the XMR/USDT pair may rise to $500. Buyers are expected to face significant selling at the $500 level. Generally, after a sharp decline, the price tends to consolidate for some time before making the next directional move. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.



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