The crypto market saw a bounce yesterday, with the total market cap recovering from recent lows. Bitcoin cleared a key support level, while BLUR broke through resistance.
crypto Total Market Cap Bounces at Range Low
The total crypto market cap trades between $1.32 and $1.4 trillion since November 8th, per [CoinMarketCap](https://coinmarketcap.com/). After breaking its range high on November 16th and reaching $1.43 trillion, the market couldn't sustain the breakout.
The market cap faced rejection at the $1.39 trillion resistance on November 20th and fell but yesterday bounced at $1.32 trillion support. This crucial support bounce could fuel a further rise to challenge the range high again. However, failing to hold above $1.32 trillion support could trigger a 9% drop to $1.23 trillion.
BTC could reach 45k$ by the end of the year
Bitcoin Holds Critical Support
Bitcoin similarly bounced after tagging the key $36,000 support zone yesterday. This support aligns with the 1.61 Fib level from the previous decline, validating it as significant support.
Holding above this zone puts Bitcoin in a position to rally 18% towards the 2.61 Fib level at $42,800. However, failing to sustain over $36,000 support could open the door to a 15% fall towards $31,000.
BLUR Breaks Out Past Resistance
BLUR stormed to highs of $0.47 on November 11th before pulling back below the $0.37 resistance. Yesterday's bounce drove BLUR back above $0.37 resistance again to tag the October high.
If BLUR manages to sustain this breakout, it could rally 95% towards formidable resistance around $0.80. The key will be maintaining the momentum above $0.37.
The crypto market is showing renewed signs of strength as Bitcoin and altcoins break resistance. Sustaining these breakouts could lead to further near-term rallies.