Key Takeaways
- •Ethereum and Bitcoin are both sitting on weak support levels.
- •Bitcoin’s next major support is $83,000 – losing it could trigger a deeper crash.
- •RSI is oversold, but selling volume shows the market hasn’t finished the sell-off yet.
- •A reversal requires Bitcoin to reclaim $92,000 as support.
Ethereum Under Pressure as Weak Support Gets Retested
Ethereum has slipped to the $2,800 zone, but the price reaction lacks conviction from buyers. Selling volume remains noticeably higher than buying volume, suggesting sellers are still in control.
The RSI sits deep in oversold territory, which often signals a possible short-term relief bounce. However, oversold conditions alone do not stop a strong downtrend. If downward momentum continues, the next solid support is much lower – around $2,400 – where Ethereum historically attracts substantially stronger demand.
Bitcoin’s Support at $87K Faces a Critical Test
Bitcoin is in a similarly fragile position. The price sits near $87,000, but market analysts consider this a weak support rather than a major structural level. The next significant support is at $83,000, and its importance cannot be overstated.
If Bitcoin falls to that zone, traders expect a wall of buy orders. However, if $83,000 fails to hold, the risk of a deeper crash becomes significantly higher and could set the tone for a prolonged bearish phase.
Oversold Readings Show Fear – Not a Reversal Just Yet
The RSI for Bitcoin has dropped to 25, one of its lowest points this year, indicating fear dominating the market. In heavy downtrends, RSI can remain oversold longer than expected, so relying on it for an immediate recovery signal may be misleading. Price action and volume both suggest that the sell-off still has fuel remaining. Red candles continue to dominate the volume profile, meaning sellers currently dictate momentum.
Trend Reversal Hinges on a Key Resistance Flip
In the short term, both Ethereum and Bitcoin remain locked in bearish territory. The real concern is whether this short-term decline evolves into a long-term downtrend if more key supports continue to break. For Bitcoin, the “line in the sand” for a trend reversal remains around $92,000. Only a clean break above that level – followed by a successful retest confirming it as support – would signal that bulls are regaining control. For now, such a scenario appears less likely as the market lacks sustained buy-side aggression.
Analysts Debate Whether the Bear Market Has Already Started
Some analysts argue that the current setup resembles the early stages of a bear cycle based on historical four-year patterns. This perspective is supported by commentary from Crypto Rover, who highlights that Bitcoin may already be transitioning into a bearish macro phase.
ACCORDING TO THE 4-YEAR CYCLE, WE’RE ALREADY IN A BEAR MARKET. pic.twitter.com/NIqQ4zBOpX
— Crypto Rover (@cryptorover) November 20, 2025
Others disagree, but market data leaves little room for debate about current momentum: sellers are still in charge, and buyers have yet to mount a meaningful recovery attempt.