 ▲ Bitcoin (BTC), Ethereum (ETH), and XRP / ChatGPT-generated image |
Major cryptocurrencies led by Bitcoin (BTC) are continuing a tedious sideways trend without establishing a strong directional move, increasing market uncertainty and prompting investors to adopt a wait-and-see approach.
According to crypto-focused media outlet FXStreet on March 4 (local time), Bitcoin, Ethereum (ETH), and XRP are failing to find a clear breakout and remain trapped within range-bound movements at key price levels. As market energy compresses, trading volume is gradually declining, and investors are maintaining a cautious stance while closely monitoring macroeconomic indicators and regulatory developments. Crypto analysts note that the longer this consolidation phase persists, the greater the potential volatility that may follow.
Bitcoin is currently struggling below the $75,000 resistance level as it searches for direction. From a technical perspective, the Relative Strength Index (RSI) remains near the neutral 50 level, indicating no clear overbought or oversold signals, while the Moving Average Convergence Divergence (MACD) is tightly converged with its signal line, underscoring the ongoing stalemate. If Bitcoin fails to secure a position above $75,000, it is likely to test support levels at $72,000 and then $70,000, movements that are expected to be closely tied to changes in open interest across the market.
Ethereum is facing selling pressure around the psychological resistance zone between $2,050 and $2,100, leading to a slowdown in upward momentum. With inflows into spot Ethereum ETFs stagnating, there is insufficient momentum to drive prices higher, and the market is in the process of confirming downside support near the $1,900 level. Analysts suggest that a meaningful trend reversal would only be possible if Ethereum decisively breaks above and holds $2,100; until then, price fluctuations within a narrow range appear unavoidable.
XRP continues to test investors’ patience as it remains sluggish around the $0.60 level. Ongoing uncertainty surrounding Ripple’s legal disputes continues to exert downward pressure on the market, while the absence of significant whale movements has kept price volatility extremely limited. For XRP to surpass the $0.65 resistance level, improvements in ecosystem activity metrics would need to come first. At present, whether the token can defend the $0.58 support level stands out as the key short-term focal point.
Overall market sentiment in the crypto sector remains neutral, with Santiment data showing that retail investor activity has weakened compared to usual levels. Rather than experiencing sharp price swings accompanied by large-scale liquidations, the market is currently exhibiting a converging pattern of gradually rising lows or declining highs. This is being interpreted as the calm before the storm, preceding a significant move by major capital. Investors are closely watching for the formation of golden crosses in technical indicators and changes in liquidity across major exchanges as they prepare for the next wave of volatility.
Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses resulting from reliance on it. The content should be interpreted solely for informational purposes.