The market is trying to recover as some coins have returned to the green zone.
BTC/USD
Bitcoin (BTC) price continues to fall, down almost 1% in the last 24 hours.
On the daily chart, the Bitcoin (BTC) price is trading closer to the support level than the resistance, which means that the sellers have taken the initiative. Thus, the price has settled below the $ 23,000 zone, which also confirms the weakness of the buyers.
In this case, the more likely scenario is the continued move lower to the next $22,000 area.
Bitcoin is trading at $22,878 at press time.
ETH/USD
Ethereum (ETH) is less of a loser, but the leading altcoin failed to stay in the green, shedding 0.54%.
From a technical perspective, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as the price is also trading sideways and below its crucial $1,600 zone. Also, the volume has dropped, resulting in buyers being unwilling to purchase the coin at current prices. Likewise, expect another drop to $1,500 if the bulls fail to seize the initiative shortly.
Ethereum is trading at $1,574 at press time.
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