According to data from CoinStats, the cryptocurrency market is experiencing a positive shift as most cryptocurrencies have moved into the green zone on the last day of the trading week. This bullish sentiment is particularly evident in two major altcoins, Bitcoin and Cardano, which are showing significant upward momentum in their respective price analyses for February 8, 2026.
Bitcoin (BTC) has demonstrated strong performance with a 3.12% price increase over the past 24 hours, trading at $71,036 at press time. Technical analysis reveals that BTC might have encountered local resistance at $71,467 on the hourly chart, with traders advised to focus on the daily bar's closure for clearer direction. If the current correction doesn't materialize, analysts anticipate a potential breakout that could test the $72,000 zone.
On longer time frames, the $71,673 level represents a crucial threshold. A successful breakout above this point could provide enough accumulated energy to fuel an ongoing upward move toward the $75,000 mark, a scenario considered relevant until the end of the following week. From a midterm perspective, Bitcoin's price is currently distant from main levels, with traders advised to monitor the interim level at $74,434. A weekly bar closure above this mark could potentially trigger a bounce back to the $80,000 zone.
Cardano (ADA) has also joined the positive trend with a 2% price increase over the last 24 hours, trading at $0.2736. On the hourly chart, ADA's rate is rising after experiencing a false breakout of the local support at $0.2694. Continued buyer pressure could potentially drive the price toward the $0.28 zone.
On longer time frames, ADA's price is positioned within a wide channel bounded by support at $0.2436 and resistance at $0.3034. With neither bulls nor bears currently dominating, sideways trading appears to be the most likely scenario over the next few days. From a midterm perspective, ADA's rate has once again bounced off the support at $0.22. If the weekly bar closes significantly above this mark, bulls may seize the initiative, potentially leading to growth toward the $0.30-$0.35 area.
