Major cryptocurrencies are trading lower in early Thursday hours despite ongoing institutional demand and cooling inflation data.

The Crypto Fear & Greed Index has entered the ‘Greed’ zone, shifting the sentiment sharply and raising questions whether this pullback signals a phase of profit-taking and consolidation following the robust rally over the last few weeks.

Bitcoin is finding key support around $101,600, according to crypto chart analyst Ali Martinez. This level is crucial as it coincides with a significant Fibonacci retracement and the lower band of a Bollinger Bands indicator, offering strong technical resistance.

Meanwhile, trader Adam observed that Bitcoin appears exhausted after its attempt to break through $105,000. Open interest has returned to levels seen during the previous all-time highs, indicating a buildup of leveraged positions that typically exert pressure on the price to move lower.

He further noted that spot markets are encountering increased selling pressure, which is evident in the rapid liquidation of large leveraged long positions, especially compared to the buying activity.

While the move from $80,000 suggests a solid base, this may not be an optimal time to open new long positions due to the strong technical resistance at $101,600 and the increasing selling interest.

On the other hand, Ethereum has closed above its 200-period simple moving average on the 3-day chart, currently around $2,700, highlighted Martinez.

Historically, such a close has marked the beginning of major bull rallies for ETH, while failure to close above this SMA has usually signaled the continuation of the bear market.

For Solana, the coin is currently retesting the $180 breakout level, observed analyst Crypto Zeinab. A successful bullish retest could open the path toward $200.

This analysis is further supported by Glassnode data, which shows positive 30-day capital inflows of around 4–5% for SOL after several months of outflows, indicating renewed interest from investors in the coin, now on par with XRP.

Dogecoin is forming a textbook inverse head and shoulders (IHS) pattern, noted Blintz Capital. The breakout occurred on Monday with strong volume, and the current pullback is seen as a healthy consolidation, setting up for another leg up.