Price Watch: Bitcoin, Ethereum, Ripple & EOS Price Analysis 8th February
Bitcoin price declined further and tested the $3,400 support area. To start a solid rebound, the price must break the $3,500 and $3,520 resistance levels. The next key resistances are at $3,580 and $3,600.
Ethereum price is following a significant declining channel with resistance near $107. A proper break above the channel resistance and the $114-115 is needed for a decent rebound in the coming sessions. If not, there is a risk of a bearish break below the $102 and $100 levels.
Ethereum price started a short term upside correction from the $103 swing low.
ETH/USD traded above the $107 and $110 levels, but it faced a strong resistance near the $114 level, resulting in a fresh drop towards $103 and $102. Ethereum Price Chart: Click to Enlarge.
Ripple price climbed higher sharply earlier this week after forming a support base near $0.2850 against the US Dollar. There is also a key bearish trend line in place with resistance at $0.3100 on the hourly chart. Therefore, a break above the trend line and $0.3000 is need for a correction towards $0.3300.
On the flip side, if the price fails to move past $0.3000 and $0.3100, there could be a fresh decline towards the $0.2850 and $0.2600 levels in the coming sessions.
EOS price was mostly confined in a tiny range below the $2.50 and $2.55 resistance levels against the US Dollar. To climb towards the $3.00 handle, the price has to break the $2.50 and $2.55 resistance levels. If not, it could revisit the $2.25 and $2.20 support levels.
During the past 7 days, a few small cap altcoins gained upward traction and moved up by more than 100%, including B2G, ERC20, TKT, PCH and ORME. Out of these, B2G rallied around 375% and ERC20 gained nearly 220%. Overall, the crypto market mostly remained in a bearish zone, but bitcoin price could find support near the $3,400 level.
Latika Mehrotra’s original article for blockonomi.com reduced by 83%
Related news: Crypto Analyst Expects Bitcoin Bounce, Monthly MACD Signals Bottom
Support Our WorkWhy support us? We work 24/7 to provide simple summaries of the latest cryptocurrency news and developments from across the web. Crypto-News-TLDR relies entirely on contributions from readers to stay independent. BTC ETH XMR IOTA AION Alternatively, support us by using the following referral links: Exchange: Binance | Hardware Wallet: Ledger Browser: Brave | Free Bitcoin: Coinbase
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send some Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send some Ethereum
Donate With MetaMask
Donate ETH Via PAY With Metamask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.