The cryptocurrency market has been experiencing a resurgence in recent days, with Bitcoin reaching $79,000 and Ethereum breaking through major resistance levels.
However, despite this momentum, the question remains whether the bounce can be sustained. Traders are watching closely for any signs of decoupling from equities, as the total crypto market cap continues to extend gains at levels similar to last Friday.
A technical analysis of key trading levels for both cryptocurrencies suggests that buyers will need to break above certain levels to continue the run. For Bitcoin, this means breaking above $80,000, while Ethereum needs to breach the $2,450 highs reached last Friday to confirm a breakout.