Ethereum-Bitcoin Report May 19th, 2022

After the crash of Luna and its stable coin UST, turbulence and volatility continue on the financial markets, even if we have seen a recovery on Bitcoin and Ethereum of about 8% nullified by yesterday, a day in which there was an average loss by 3%, flanked also by a decline in all financial assets, such as the New York Stock Exchange and even the Down Jones lost 3.5%, values ​​that have not been seen for a long time.

Now we need to see if this decline, where there has not been an exponential increase in volatility, but seemed more like an orderly decline, is an end point or a prelude to a bear scenario.

Certainly the words of Powell on Tuesday evening, who said he wanted to continue with the increase in interest rates and the statements of the former CEO of Goldman Sax, Lloyd Blankfein, who saw the possibility of a worsening of the economic situation of the United States have thrown uncertainty on the markets.
On a technical level, if Bitcoin does not quickly recover $ 30,000, it opens the way to the downside and the possibility of breaking the support at $ 25,200 (green line on the chart).

As for Ethereum itself, it must recover $ 2,100 otherwise there is a risk of breaking the support in the $ 1,730 area.