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BTC and ETH Price Analysis for March 1

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Wed, 1/03/2023 - 16:05
BTC and ETH Price Analysis for March 1
Cover image via www.tradingview.com

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March has begun with bulls' pressure, as most of the coins are in the green zone again.

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Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has risen by 1.09% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, the price of Bitcoin (BTC) has once again touched the resistance level at $23,890. At the moment, one should pay attention to the daily closure. If it happens with no long wicks and near the $23,800 mark, there are high chances of seeing a breakout, followed by a blast to the area of $24,000.

Related
Binance Coin (BNB) Price Analysis for February 28

Such a scenario is relevant until the end of the week.

Bitcoin is trading at $23,628 at press time.

ETH/USD

Ethereum (ETH) is even more of a gainer than Bitcoin (BTC), going up by 1.19%.

ETH/USD chart by TradingView

From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as its rate is also near the resistance at $1,667. If buyers can hold the gained initiative, the upward move may continue to the next zone around $1,700.

Ethereum is trading at $1,650 at press time.

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