FX.co ★ Morning review of cryptocurrencies for February 16, 2021

There have been no significant changes in the crypto market since yesterday. Nevertheless, BTC reached a new record high but failed to consolidate at this level yet.

Bitcoin consolidated above 48,178.13, which is the support level now. The level of 49.690.70 is seen as resistance, which is also the previous historic high. Today's attempt of the price to break through the high looks like a false breakout.

BTC/USD is moving in a narrow sideways range. Most likely, the price will break through one of the indicated levels of the range. At the same time, the price still can reach a new record high.

Bitcoin Cash touched the resistance level of 835.86, but failed to consolidate above it. Now, let's take a look at the H1 time frame. We have a sideways range in the area of 701.47 - 835.86. If the price does not break through support, the upward trend on BCH/USD may well resume. In case of a breakout at the horizontal level of 701.47, the price may go down to the 611.50 target.

Ripple is stuck in a narrow range between the support level of 0.5564 and local resistance located at 0.5957. In case the price breaks through the lower border of the range, the support level will be seen at 0.5345.

Ethereum has not broken through the sloping resistance level of 1874.20 - 1851.95. The target is gradually moving down along it. In case of a rebound, the downward terget will remain at the local support level of 1697.27. If the price breaks through the resistance of 1874.20 - 1851.95, ETH/USD will be able to reach the 161.8% Fibo Expansion level.

Litecoin is consolidating in the narrow sideways range of 210.96 - 218.92. So far, the price has not broken through its upper border. Therefore, a rebound is highly likely. If BTC hits a new historic high, LTC/USD's next resistance level will be 228.24.