Bitcoin and Ethereum: Price drop below the $21,000 level

• Once again, the $22000 level proved to be a major current obstacle for Bitcoin to move into a bullish trend.
• For the fourth day, the price of Ethereum is in a bearish trend after climbing to the $1275 price.
• Sberbank and the first blockchain transaction.

Bitcoin chart analysis

Once again, the $22000 level proved to be a major current obstacle for Bitcoin to move into a bullish trend. On July 8, the price of bitcoin managed to climb up to $22,400, and a pullback below $22,000 followed very quickly. During the weekend, the price tried to make a break above but without success. Yesterday there was a price drop and a drop below the $21,000 level. During the first part of today, the price continued its decline, and now we are at the $20500 level. We can say that we are currently looking for support at the MA200 moving average, but it is more likely that we will see a new test of the $20,000 level again. A break below this support zone brings us back to the July support zone from the beginning of the month, around $19,000.

Ethereum chart analysis

For the fourth day, the price of Ethereum is in a bearish trend after climbing to the $1275 price. Over the weekend, the price dropped below the $1,200 price point and continued its pullback. We have today’s support at the $1140 price, but the pressure is on to see a continuation of the decline to the $1100 support zone. If we do not find support here either, then we continue towards the $1000 psychological level for the price of Ethereum. For a bullish option, we need a new positive consolidation and a return above the $1200 level. After that, we could try to continue the recovery to the $1300 resistance zone.

Market overview

Sberbank and the first blockchain transaction

Sberbank, Russia’s largest bank and majority-owned by the government, has carried out the first digital financial asset transaction on its own blockchain-based platform.

In a news release today, Sberbank announced that it has launched a blockchain platform based on smart contracts and conducted the first transaction with its subsidiary, SberFactoring, issuing a billion rubles (about $1 million) with a maturity of three months.

“The launch of the platform and our obtaining the operator status is the result of the teamwork of many divisions of our bank in close cooperation with the Bank of Russia,” said Anatoliy Popov, Deputy Chairman of the Sberbank Management Board. Announcement.

Sberbank’s blockchain platform works in pilot mode for a limited number of users, but soon all corporate clients of the bank will be able to connect to it.