The crypto market's cool-off from the last price explosion is still ongoing, and the total crypto market cap is down by another 0.6%, to around $1.86 trillion.
On the bright side, Bitcoin still trades above $49,000 and the crypto market's heatmap looks like this:
Most of the market’s cryptocurrencies have shed their gains, and have turned red as the bears attempt to seize control once again.
Despite today being Valentine’s, the crypto market has shown no particular love to traders, and has taken $140 million from them.
The bulls, in particular, have suffered the most through it all, with $91.16 million worth of liquidations, compared to the bears' $48.93 million.
In total, we can say that the bulls are still in control of the market, but there is an ongoing struggle for bearish control. If the bulls prove themselves to be “too tired” to push the market further up, we just might see some bearish flags fly.
Bitcoin Consolidates Above $48,969
Bitcoin, at the time of writing, trades at around $49,600. The cryptocurrency is down by around 0.76% today and is consolidating above 11 January's $48,969 high.
Bitcoin could potentially consolidate for longer above this support, and use it to break fully above $50,000.
However, if we do see a break below this price level, Bitcoin might go as low as its 25-day EMA around $44,000.
Ethereum Attempts $2,700
According to the charts, Ethereum currently trades at $2,650 and tried breaking above $2,700 with yesterday’s daily candle.
Ethereum is now consolidating under $2,700 and is showing no significant signs of rejection.
If things play out, we might see the cryptocurrency travel further upwards in the coming days, break through $2,700 and hit as high as $3,000.
Can BLUR Break Above $0.736?
According to Binance's rankings, BLUR currently trades at around $0.6949 and is about to cross an important resistance.
BLUR attempted a break above $0.7366 on 16 January but was instead rejected into a retest of the $0.54 support.
The cryptocurrency rebounded from here and is now travelling further upwards in another attempt to break above $0.7366.
If BLUR succeeds in this next attempt, we might see a retest and even a break above the cryptocurrency's all-time high of around $0.79.
Watch Out For C98
C98 attempted to break above $0.34 on 26 December last year, but was instead rejected from this price level, and was forced to retest $0.2 on 8 January.
Today, we have C98 attempting another take at $0.34, with an intra-day gain of nearly 10%.
C98 has already broken above the minor $0.2855 resistance and should find it fairly easy to retest $0.34.
If we see a breakout after this retest, however, the next price level to keep an eye out for is anywhere between $0.38 and $0.41.
MOBOX (MBOX) Could Be Ready
Mobox is showing considerable signs of bullishness as well, as illustrated below.
The cryptocurrency currently trades at around $0.345 and is up by around 10% over the last day alone.
In the charts, we can see that after getting rejected from the $0.4488 resistance on 28 December last year, MBOX declined massively, into a retest of the ascending trendline shown above.
The cryptocurrency now appears to be making a rebound attempt and is doing pretty well so far.
If we see a continuation of this bullishness, MBOX might rally further up, retake $0.4488 and even target the next resistance at $0.528.
