The rebound from the expected reversal zone around $94,500 turned out to be weaker than expected.

At the lower boundary of the Ichimoku Cloud in the region of $96,200, sellers again seized the initiative.

The RSI line has consolidated below the 50 mark and the exponential moving average EMA 100.

Bitcoin is heading for a test of the $92,500 support, a decline under which will result in a descent to the volume level of $91,400, which previously stopped the instrument's decline.

On the one hand, we are witnessing an almost recoilless decline in Bitcoin, which brings the market closer to the reversal phase, but there is still accumulated liquidity under the local minimum at around $90,500.

It is likely that the decline may culminate at this level with a price puncture under this zone and a V-shaped reversal of the movement.

Therefore, it is important to monitor the reaction of buyers at $91,400.

Bulls need to hold the price above $90,000 to start a rebound across the market.

The loss of this mark will result in a continuation of the correction.

#ETH.

Ethereum rebounded from the trading level of $3,215, to which the price had returned at the time of writing the review.

If the asset breaks through this support, then the instrument will wait for a test of the local minimum at around $3,100.

The total market value of digital assets has fallen by 2.8% over the past day, while the dominance of the main cryptocurrency has decreased by 0.4%.

Over the past couple of days, $930 million worth of long positions in Bitcoin and altcoins have been eliminated.

This is an additional argument for the imminent rebound in the market.

If you got your own thoughts upon the market, feel free to share with me 😉👇