Bitcoin is encountering significant resistance around the $30,580 mark. If candle closes fall below this level, it could trigger a downtrend towards $29,500, and amplified selling pressure might further push Bitcoin's value down to the $28,950 level.
The price of Ethereum started a downward correction from the $1,940 region against the US Dollar. In the near term, ETH might retest the critical $1,840 support level.
As investors raised their bets that the US Federal Reserve would soon cease its hawkish policy, the most valuable cryptocurrency reached $30,000 for the first time in ten months.