Bitcoin and Ethereum: Bitcoin near the $26000 level

• Continued interest rate hikes by major central banks continue to weigh on the crypto market. 
• The price of Ethereum fell to the $1737 level this morning, forming a new two-month low. 

Bitcoin chart analysis

Continued interest rate hikes by major central banks continue to weigh on the crypto market. Bitcoin fell below $27,000 again yesterday, and today the decline stopped at the $26,100 level. We are very close to the $26000 level and could test it soon. If Bitcoin price breaks below, potential lower targets are the $25800 and $25600 levels.

If Bitcoin consolidates at this level, it could start a new recovery and return above the $27,000 level.

Ethereum chart analysis

The price of Ethereum fell to the $1737 level this morning, forming a new two-month low. After that, we see an attempt to recover, and the price is now at the $1768 level. It would be positive if we managed to consolidate above the $1780 level. After that, we could expect to see further recovery.

Potential higher targets are the $1800 and $1820 levels. If we fail on the bullish side, the price would retest this morning’s low, and we would likely see a new break and drop below.

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