Price Analysis 02/08: BTC, ETH, XRP, LTC, BCH, BNB, EOS, BSV, XLM, ADA

The traders should turn cautious if the price fails to breakout of the downtrend line because there is an outside chance of formation of a bearish descending triangle pattern.

If bulls fail to push the price above $345.90, the BCH/USD pair will be at a risk of breaking below the uptrend line.

The price is at a critical level and we should see a decisive move in the next few days.

A break above $32.6 is likely to resume the uptrend, which might carry the price to lifetime highs of $39.5941.

We will suggest long positions if the price is sustained above the uptrend line for three days.

If bulls fail to sustain the BNB/USD pair above the uptrend line, the price might dip back to $24.1709.

If the price bounces off the uptrend line and breaks out of $4.8719, it will complete an ascending triangle pattern that has a target objective of $6.4438.

If the price closes above the channel, it will indicate a possible end of the downtrend.

XLM/USD. The volatility in Stellar has dropped in the past five days as the price has remained in a tight range.

We will withdraw it in our next analysis if the price sustains below the triangle.