Ethereum Price Analysis Feb.3: ETH Follows BTC By Failing to Break The Descending Trend-line. $100 Soon?
Let’s start with a quick overview of the Bitcoin chart; Yesterday the bulls attempted to break up the descending trend-line resistance. This attempt had failed, and at the moment BTC is back at below the descending trend-line, whereas the support is around $3420.
ETH had followed the same pattern, despite that in the ETH scenario, the correction since January 5 didn’t form a descending trend-line like in BTC.
Looking at the 4-hour and 1-day ETH-USD chart
Looking at the ETH-BTC 4 hours chart
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