Ethereum and Bitcoin Face Renewed Sell-Off, Struggling Near Critical Support Levels

Both Ethereum and Bitcoin are experiencing renewed selling pressure, with prices teetering on the edges of crucial support levels. Concerns remain about the fragility of these supports, potentially triggering a deeper market correction. Bitcoin’s next major support zone sits around $83,000; failure to hold this level could exacerbate the sell-off and initiate a more significant downward trend. Ethereum is also under pressure, currently resting near the $2,800 zone. Though volume has been high for selling activity, buyers have yet to regain control. The RSI indicates overbought levels are being reached. The current bearish sentiment and declining price action indicate that Bitcoin may be facing a sustained downturn, with the next major support level standing at $92,000.