The cryptocurrency market has entered another sharp correction phase, sending digital assets deep into the red. Bitcoin has fallen towards $90,000, while Ethereum has fallen below $3,000. This breakdown below the $90,000 level is crucial as it has not occurred in over seven months
Market analyst Gareth Soloway has released a fresh technical take on Bitcoin and Ethereum, confirming that both cryptocurrencies have now reached key support levels that could decide whether the current bull trend continues or breaks down.
Bitcoin falls to $90,000 as sellers take control
Bitcoin’s price fell to around $90,662 at the time of publication, marking a drop of almost 5% in the past 24 hours. The world’s largest cryptocurrency briefly fell to $89,673, struggling to regain the $96,000 area that acted as recent resistance. Today’s trading range between $89,673 and $95,928 shows increasing volatility and more aggressive selling pressure in the derivatives and spot markets.
Market sentiment has also weakened after several failed attempts to break and maintain the psychological barrier of $100,000.
Ethereum breaks key support and falls below $3,000
Ethereum has also turned bearish and is falling below the crucial USD 3,000 support zone. ETH traded between $2,948 and $3,218 over the past 24 hours. The drop below $3,000 is significant because it has historically functioned as a defense zone, supported by institutional interests, increasing demand and network growth expectations.
Gareth Soloway issues new technical warning
Soloway has released a new technical view for both Bitcoin and Ethereum, stating that the latest decline has pushed both cryptocurrencies straight into key support zones. According to Soloway, these levels can determine whether the broader bull trend continues or begins to break down, making the next trading sessions very important for the direction of the market.
Next levels to watch
For Bitcoin, the analyst is eyeing the $88,000 to $90,000 range as near-term structural support. A rebound from this zone could take BTC back to $94,000 or $97,000, while a confirmed break could expose the mid-$80,000 region.
For Ethereum, it remains to be seen whether the price can regain above $3,000 with strong volume. A successful return to the upside could restore bullish confidence, while continued weakness could send ETH towards $2,750 or even $2,600 in a prolonged correction.
Trust CoinPedia:
CoinPedia has been providing accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict editorial guidelines based on EEAT (Experience, Expertise, Authoritativeness, Trustworthiness). Each article is fact-checked from reputable sources to ensure accuracy, transparency and reliability. Our review policy ensures unbiased evaluations when recommending exchanges, platforms or tools. We strive to provide timely updates on everything crypto and blockchain, from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making any investment decisions. Neither the writer nor the publication accepts responsibility for your financial choices.
Sponsored and Ads:
Sponsored content and affiliate links may appear on our site. Ads are clearly marked and our editorial content remains completely independent from our advertising partners.