BTC, ETH and SOL Price Analysis for February 8


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Denys Serhiichuk

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Are there coins that can grow against the slight market decrease?

After a few days of growth, bulls have faced obstacles on their way up as most of the coins have returned to the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) is almost unchanged since yesterday, with growth of only 0.44%.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) made a false breakout of the resistance level at $45,478. At the moment, buyers are out of energy to keep the rise going.

In this case, if the decline continues, there is a chance to see the test of the recently formed mirror level at $39,573.

Bitcoin is trading at $43,098 at press time.

ETH/USD

The rate of Ethereum (ETH) has gone down by 1.57% over the last 24 hours.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Despite the fall, the leading altcoin remains trading above the support level at $3,034. Until bulls can hold the vital mark of $3,000, one may expect continued growth to the area of $3,500.

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In case bears keep the pressure and the price goes below $3,000, the drop may lead the rate of ETH to $2,815.

Ethereum is trading at $3,056 at press time.

SOL/USD

Solana (SOL) is the biggest loser from the list today with a decrease of 7.71%.

SOL/USD chart by TradingView
SOL/USD chart by TradingView

At the moment, neither bulls nor bears are dominating as the price is stuck in the channel between the support at $87.73 and the resistance at $130.11. If buyers can come close to $120 and fix above it, there is a chance to see a breakout of the $130 mark soon.

SOL is trading at $111.53 at press time.


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