Cryptocurrency market cap fell sharply on Sunday, pulling major tokens like Bitcoin (BTC) and Ethereum (ETH) lower. However, Bitcoin's 7-day volatility has dropped to its lowest in 563 days, signaling a potential breakout.
Bitcoin price is hovering around the $95,000 mark, and a breakout above this level could propel BTC towards the next psychological barrier at $100,000. If this resistance is breached, the subsequent target could be seen at $107,000.
Alternatively, if BTC fails to break through $95,000, it might lead to a pullback towards the 20-day Exponential Moving Average (EMA) at $90,102 or even the 50-day Simple Moving Average (SMA) at $85,645.
Ethereum price is holding above the $1,800 level, with technical indicators suggesting a potential bullish breakout. A move above the $1,858 resistance could lead ETH to rally towards the $2,111 barrier.
Surpassing this level might signal the end of the downtrend and open the way for a continuation of the uptrend towards the $2,550 mark. However, if the price drops below the moving averages, it might indicate a range-bound movement between $2,111 and $1,368.
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