Traders often prefer markets with clear trends over those that are range-bound. In uncertain times, traders may opt to wait on the sidelines, a trend currently seen with Bitcoin (BTC).

Research from Santiment indicates that "fear and indecision" are causing a decrease in Bitcoin's on-chain activity, nearing historic lows. However, this does not necessarily mean a further decline in Bitcoin's value is inevitable.

During Bitcoin's consolidation phase, some investors view it as an opportunity to increase their holdings. Metaplanet, a Japanese investment firm, has adjusted its treasury strategy to focus solely on Bitcoin due to the depreciation of the Japanese yen. They recently acquired 117.7 Bitcoin at an average price of $65,000 each.

When a market consolidates near its all-time high, it is generally positive as it suggests traders are holding positions in anticipation of upward movement. However, repeated failed attempts to break overhead resistance could lead to liquidation and a potential significant decline.

Bitcoin (BTC) Price Analysis

Bulls are struggling to keep Bitcoin above the 20-day EMA at $62,471, indicating continued bearish pressure. BTC price has lost bullish momentum and is declining sharply below its immediate Fib channels.

The 20-day EMA is flat, and the RSI is heading towards oversold territory, suggesting Bitcoin may continue sideways for several days. If buyers can maintain the price above the 20-day EMA, the BTC/USDT pair could target the 50-day SMA at $65,441. Breaking this level could lead to further gains towards $68,000.

On the downside, a rejection from the 50-day SMA would signal bearish control at higher levels, potentially pushing the pair towards crucial support levels between $59,600 and $56,500.

Super Trump (STRUMP) Price Analysis

STRUMP has been below the 50-day SMA since rejecting the $0.005 level. Despite attempts to break out, bears are defending the immediate resistance line. Currently trading at $0.0041, STRUMP has surged over 7.5% in the last 24 hours.

A bearish crossover in moving averages and RSI dipping into bearish territory suggest seller dominance. Breaking the significant support at $0.0032 could lead to further declines towards $0.003.

A strong bounce from the $0.0032 support could indicate buying interest, keeping the pair within a range of $0.004 to $0.005. A break above $0.005 would signal renewed bullish momentum.

Render (RNDR) Price Analysis

RNDR faced resistance at $11.5, prompting short-term traders to sell. The price dropped below the 23.6% Fib level and is testing immediate support. Currently at $10.9, RNDR has surged over 4.2% in the last 24 hours.

To sustain the uptrend, buyers must defend the ascending support line, potentially pushing RNDR back to $12 and higher. A move above the 61.8% Fibonacci level could signal a new bullish phase.

A break below the support line could weaken the bullish trend, leading to a consolidation phase between $9.4 and $8.3.

Solana (SOL) Price Analysis

Solana is aiming for an uptrend above $149, facing resistance from bears. The 20-day EMA at $146 and RSI around the midpoint offer no clear advantage to bulls or bears.

Holding above the 20-day EMA could push SOL towards $162, while a drop below $137 might signal bearish momentum, potentially leading to a decline to $126.

Pepe Price Analysis

Pepe's price surge may test buyers' patience, with strong bearish resistance around $0.000011. Currently at $0.00001024, Pepe has surged over 20% in the last 24 hours.

Maintaining above the 20-day EMA at $0.0000091 could push Pepe towards the 50-day SMA, with resistance at $0.000015 to $0.00002. Falling below $0.000009 could confirm a bearish pattern, potentially leading to a drop to $0.0000083.