Ethereum Price Analysis for February 8th – Resistance Levels Are Weak but Won’t Break
The second-largest crypto has been on a downward trend in January. However, the weekend brought a different case. ETH opened the market on Friday at 2681.06 and closed at 2983.59. On Monday, Ethereum was looking at closing at 3142.47. Looking at the charts on trading view, here is the likelihood of the trend.
ETHEREUM ANALYSIS (ETH/USD)
The ETH/USD chart has been bearish for the last two months. The 4h timeframe shows that the price is retracing towards the last demand zone. The price has not hit the equilibrium on the demand zone, so buyers are still waiting for it to deep before the move turns into a serious bullish one. Players are waiting to sell at the price that occurred on 24th Jan which is around 2158.46
However, Wednesdays are the days moves get to show faces. Look at...