BTC and ETH Price Analysis for January 2
Most of the coins have returned to the green zone after a minor correction, according to CoinMarketCap.
BTC/USD:
Bitcoin (BTC) has seen a significant gain of 6.64% today. On the daily chart, BTC has surpassed the resistance level of $44,528, indicating that bulls continue to control the market. The volume has also increased, suggesting further potential for a test of the $47,000-$48,000 range in the near future. Bitcoin is currently trading at $45,547.
ETH/USD:
Ethereum (ETH) has experienced a more modest gain compared to Bitcoin, rising by 4.27%. From a technical standpoint, Ethereum appears less bullish than Bitcoin. Traders should focus on the $2,392 level, as a candle closing above it with a short wick may signal continued upward movement towards the crucial zone of $2,500. Ethereum is currently trading at $2,400.
Overall, both Bitcoin and Ethereum show positive signs, with Bitcoin leading in terms of momentum and potential price movement.