Bitcoin and Ethereum lost ground over the past week as stronger Dollar weighed, breaking their recent correlation with the NASDAQ. While tech stocks surged to fresh records, the two largest cryptocurrencies failed to follow. The price action suggests that the consolidation phase in both Bitcoin and Ethereum, in place since August, is set to extend with another downward leg.
For Bitcoin, sustained break of 55 D EMA (now at 113,835) would confirm that the correction from 124,553 has entered its third leg. That would open the way for a retest of the 107,263 support. Firm break there would target a deeper fall toward 100% projection of 124,553 to 107,263 from 117,989 at 100,699, which is close to 100k psychological level.
Ethereum’s structure looks slightly less fragile, but risks are also tilting lower. The current move from 4,956.08 is seen as correcting only the rise from 2,110.58, not the larger trend from 1,382.55. Still, decisive break of 4,211.04, which aligns closely with 55 D EMA (now at 4,207.58) would signal scope for a deeper correction. The next technical target for Ethereum would be 38.2% retracement of 2,110.58 to 4,956.08 at 3,869.09.
