BTC and ETH Price Analysis for January 23
The decline continues on the cryptocurrency market, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) keeps falling, going down by 5.28% over the last 24 hours.
On the daily chart, the price of BTC has broken the vital level of $40,181. Until the rate is below that mark, bears will be more powerful than bulls.
In this case, an ongoing decline to the $37,000-$38,000 zone is the more likely scenario.
Bitcoin is trading at $38,922 at press time.
ETH/USD
Ethereum (ETH) has losr even more than Bitcoin (BTC), declining by 7.64%.
The price of ETH is falling after yesterday’s bearish candle closure. If the situation does not change by the end of the day, traders may expect a test of the support level of $2,115 until the end of the week.
Ethereum is trading at $2,208 at press time.
