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BTC, ETH and SOL Price Analysis for February 8

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Tue, 8/02/2022 - 15:43
BTC, ETH and SOL Price Analysis for February 8
Cover image via www.tradingview.com

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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.

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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.

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BTC, ETH, XRP, ADA and BNB Price Analysis for February 7

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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BTC, ETH, XRP, ADA and BNB Price Analysis for February 5

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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