Bitcoin and Ether are in free fall, but SOL has reached critical support.
Bitcoin is falling below the $48,820 support, ether is falling below the $3,800 support, and SOL is approaching a critical level under $168.
Bitcoin
Bitcoin’s price has begun a new drop after hovering near $52,000. Below the $48,822 support level and the 21 simple moving average, BTC has developed negative momentum (H1).
The price has even dropped below $48,000. The bulls are currently seeking to defend the $47,000 support zone. Bitcoin is regaining ground and encountering resistance at $47,500. On the hourly chart, there is also a big negative trend line with resistance near $47,500.
A decisive break over $47,500 might kick-start a nice rise. If not, the price may continue to fall below $47,000 in the short term.
Ethereum (ETH)
Ethereum has also begun a significant drop from far above the $4,000 level. The price fell sharply below the $3,885 support level. The price even fell below the $3,800 mark and the 21-day simple moving average (H1).
It is now consolidating losses and trading towards the $3,700 mark. On the plus side, a significant barrier is emerging at the $3,800 level. On the hourly chart, a significant bearish trend line is formed with…
