The cryptocurrency market has entered another sharp correction phase, sending digital assets deep into the red. Bitcoin has slipped toward the $90,000 mark while Ethereum has dropped below $3,000. This breakdown below the $90,000 level is crucial because it has not happened in more than seven months
Market analyst Gareth Soloway has released a fresh technical outlook on Bitcoin and Ethereum, confirming that both cryptocurrencies have now tapped key support levels that could decide whether the current bull trend continues or breaks down.
Bitcoin Slides to $90K as Sellers Take Control
Bitcoin’s price declined to around $90,662 at the time of reporting, marking close to a 5% drop in the last 24 hours. The world’s largest cryptocurrency briefly fell as low as $89,673, struggling to reclaim the $96,000 area that acted as recent resistance. The day’s trading range between $89,673 and $95,928 shows rising volatility and more aggressive sell pressure in derivatives and spot markets.
Market sentiment has also weakened after multiple failed attempts to break and sustain above the psychological $100,000 barrier.
Ethereum Breaks Key Support, Drops Under $3,000
Ethereum has also turned bearish, falling below the crucial $3,000 support zone. ETH traded between $2,948 and $3,218 in the past 24 hours. The slip below $3,000 is significant because it has historically acted as a defense zone backed by institutional interest, staking demand, and network growth expectations.
Gareth Soloway Issues Fresh Technical Alert
Soloway has released a new technical outlook for both Bitcoin and Ethereum, stating that the latest drop has pushed both cryptocurrencies directly into important support zones. According to Soloway, these levels may determine whether the broader bull trend continues or begins to break down, making the next few trading sessions highly critical for market direction.
Next Levels to Watch
For Bitcoin, the analyst is monitoring the $88,000 to $90,000 range as short-term structural support. A bounce from this zone could bring BTC back toward $94,000 or $97,000, while a confirmed breakdown could expose the mid-$80,000 region.
For Ethereum, it remains to be seen whether price can reclaim above $3,000 with strong volume. A successful push back above could restore bullish confidence, while sustained weakness may send ETH toward $2,750 or even $2,600 in an extended correction.
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