BTC, DOGE and SHIB Price Analysis for January 23

On the last day of the week, the rates of some coins have recovered to a certain extent.

BTC/USD

Despite a slight bounceback today, the rate of Bitcoin (BTC) has declined by 17% over the last week.

On the daily chart, Bitcoin (BTC) has not continued the fall today against the increased trading volume. Currently, neither bulls nor bears are dominating as the price is located in the middle of the channel.

If buyers can hold the rate above $35,000, the correction may lead BTC to the mirror level at $39,573 by the end of the month.

Bitcoin is trading at $35,869 at press time.

DOGE/USD

Unlike Bitcoin (BTC), the price of Dogecoin (BTC) has risen by 4% since yesterday.

Despite the fall, the price has bounced back to the support level at $0.1310. Until it remains above it, bulls keep controlling the situation on the market. But in case the sellers’ pressure continues and a breakout occurs, the fall might last until the psychological area around $0.1.

All in all, one needs to pay attention to the support level and buyers’ reaction.

DOGE is trading at $0.1392 at press time.

SHIB/USD

SHIB is the greatest gainer among the top 20 coins today. The meme coin has grown by 10.33% over the last 24 hours.

From the technical point of view, SHIB is trading similarly to DOGE as it has also bounced back from its support level at $0.00002010. However, it is too early to consider a possible market reversal as the coin has not accumulated enough power yet. In this case, the more likely price action is sideways trading in the range around $0.000020-$0.000021.

SHIB is trading at $0.00002221 at press time.