Bitcoin, Ripple, Ethereum, Litecoin, EOS, Bitcoin Cash, Tron, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 8

Published on by Cointele | Published on

91.We will wait for the BTC/USD pair to sustain above the downtrend line before suggesting any trade in it.

As the risk-reward is attractive, we recommend long positions on a close above $116.30 with a stop loss of $100.Conversely, if the ETH/USD pair fails to break out of the range and turns down from $116.30, it will extend its consolidation.

Conversely, if the bulls fail to sustain the higher level and the pair turns down, it can correct to the support at $33. There are a slew of supports between $27.701 and $33. The trend will turn down on a break below $27.701.EOS/USDEOS is attempting to bounce from the $2.30 support.

Long positions can be initiated on a close above $2.5944 with a stop loss below $2.1733.If the EOS/USD pair turns around and slumps below the support at $2.1733, it can fall to $1.7746 and below it to $1.55.

The TRX/USD pair has to scale the major hurdle at $0.02815521 before it makes a dash to the upside targets of $0.03575668 and above it $0.038.Any break of the triangle and the 50-day SMA will be negative and can result in a fall to $0.02113440 and below it to $0.0183.

Should the price turn down from any of the resistance levels mentioned above, a retest of the lows and on a breakdown, a drop to $0.05795397 is probable.

If the bulls succeed in carrying the XLM/USD pair above the 50-day SMA, a rally to $0.13427059 is likely.

BNB/USDAfter a minor dip on Feb. 7, the bulls are again attempting to resume the up move in Binance Coin.

If the bulls sustain above the intraday high of Feb. 6 at $8.7630584, the BNB/USD pair is likely to reach $10. We expect a major supply in the region of $10 to $12 leading to a minor correction.

On the downside, any pullback will find support at the 20-day EMA and below it at the 50-day SMA. Our bullish view will be invalidated if the price plunges back into the channel.