© Reuters
Investing.com – The still fails to sustainably hold above the psychological threshold of $23,000 as the cryptocurrency fell to a low of $22,335 overnight Tuesday-Wednesday after peaking just above of $23,000 Monday night.
However, Bitcoin’s hesitations are still within the scope of consolidation at this point, and the cryptocurrency is still showing a positive profile, maintaining a nearly 7% week-on-week gain as of this writing.
However, this is not the case for , which has corrected significantly more than Bitcoin since yesterday with a drop of almost 5%, bringing its performance over 7 days to -1.64%. Thus, the value of Ethereum in Bitcoin () yesterday marked a low at $0.0678, the lowest since November 2022.
Regarding the next events likely to give a clearer direction to Bitcoin or Ethereum, it should be noted that the day of this Wednesday will be lightly charged from a macroeconomic point of view.
However, tomorrow could be a decisive day for cryptocurrencies and risky assets in general, with the publication of the first estimate of US GDP for the last quarter of 2022.
Finally, from a graphical point of view, we can identify short-term supports at $22,300 then $22,000, while the $23,000/23,300 zone remains the first resistance to take into account. When it comes to Ethereum, the first key support is the $1500 area, while on the upside $1590/$1600 is the first significant hurdle.