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BTC and ETH Price Analysis for January 9

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Mon, 9/01/2023 - 15:47
BTC and ETH Price Analysis for January 9
Cover image via www.tradingview.com

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The new week has begun with the sharp rise of the cryptocurrency market as all of the top 10 coins are in the green zone.

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Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is rising slower than most altcoins, going up by 1.70% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, the price of Bitcoin (BTC) has fixed above the vital $17,000 zone. Until the rate is above the support level at $17,046, buyers keep controlling the situation on the market. In this case, the growth is possible to the next resistance zone around $17,600-$17,800. Such a scenario is relevant until mid-January.

Bitcoin is trading at $17,245 at press time.

ETH/USD

Ethereum (ETH) is more of a gainer than Bitcoin (BTC), rising by 4.54%.

ETH/USD chart by TradingView

On the daily time frame, the price of Ethereum (ETH) is on its way to the resistance at $1,352. At the moment, one should pay attention to when the altcoin approaches the level. If it reaches that on the small bars and the candle closes with no wicks, there are high chances for a breakout, followed by a rise to the $1,400 area.

Ethereum is trading at $1,326 at press time.

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