Bitcoin continues to fall along with the S&P 500 index, extending the session's losses overnight. Bitcoin price has dipped below the $25.000 level and at the time of writing this article is trading close to $22.500 and has dropped almost 18% in one day. Likewise, most major altcoins are in sharp decline. ETH has tested the $1.300 level and continues to decline.
The worst was yet to come for global markets, investors nervously awaited the Federal Reserve's latest policy-setting meeting later this week, with a rate decision set for Wednesday.
In this article, we will discuss:
Bitcoin price
After a break below $26.700, the bitcoin price continues to decline, BTC dropped breaking many key support zones and tested the $25.000 level before recovering slightly. The next major support is near the $22.000 zone, the selling force points towards a move towards the $20.100 level. A strong break below the $20.100 price zone could see bitcoin test the support near $18.000.
On the upside, an immediate resistance is near the $26.700 resistance zone. Major resistance is now forming near the $28.500 level.
Ethereum Price
O ethereum price It also gained bearish momentum below the $1.550 support. ETH is down 20% today and tested the $1.300 level, before dropping again near $1.150. The next major support is near $1.000, below which the price could even test the $850 support.
On the upside, an immediate resistance is near the $1.420 level. The next key resistance is near the $1.500 level, above which the price can start a stronger recovery wave.
