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BTC and ETH Price Analysis for September 23

Fri, 09/23/2022 - 15:22
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Denys Serhiichuk
Can traders expect fall of Ethereum (ETH) to $1,000?
BTC and ETH Price Analysis for September 23
Cover image via www.tradingview.com

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.

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Not all coins could keep yesterday's sharp growth as some cryptocurrencies have come back to the bearish zone.

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is one of the biggest losers with a decline of 1.47% over the past 24 hours.

BTC/USD chart by TradingView

Despite the drop, the fall may continue as the price is on the way to the support level at $18,271 after a false breakout. This means that sellers tend to be more powerful than buyers.

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If bulls cannot seize the initiative in the near future, there are chances to see a sharp decrease to the closest level at $17,592 by the end of the current month.

Bitcoin is trading at $18,635 at press time.

ETH/USD

Ethereum (ETH) is looking better than Bitcoin (BTC) as the price has changed since yesterday by +0.49%.

ETH/USD chart by TradingView

Ethereum (ETH) could not keep the rise going after yesterday's bullish candle, which means it is too early to think about a midterm rise. If the bar closes near the $1,230 mark, one can expect a sharp price drop to the zone around $1,000 as enough power has been accumulated for that.

Ethereum is trading at $1,285 at press time.

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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 denys.serhiichuk@u.today.