Main navigation

BTC and ETH Price Analysis for January 31

Tue, 01/31/2023 - 13:30
article image
Denys Serhiichuk
Can Bitcoin (BTC) and Ethereum (ETH) hold their key levels?
BTC and ETH Price Analysis for January 31
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

The market is trying to recover as some coins returned to the green zone.

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) keeps falling, going down by almost 1% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, the price of Bitcoin (BTC) is trading closer to the support level than to the resistance, which means that sellers have seized the initiative. Thus, the rate has fixed below the $23,000 zone, which also confirms buyers' weakness.

SOL and ADA Price Analysis for January 30

In this case, the more likely scenario is the continued downward move to the next area of $22,000.

Bitcoin is trading at $22,878 at press time.


Ethereum (ETH) is less of a loser, however, the leading altcoin could not stay in the green zone, declining by 0.54%.

ETH/USD chart by TradingView

From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as the price is also trading sideways and is located below its crucial zone of $1,600. In addition, the volume has fallen, which means that buyers are not ready to buy the coin at the current prices. Likewise, one can expect a further decrease to $1,500 if bulls cannot seize the initiative shortly.

Ethereum is trading at $1,574 at press time.

article image
About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at