Bloomberg

Crypto markets facing make-or-break moment after recent surge

Cryptocurrencies, which sold off precipitously at the onset of the coronavirus-induced crash earlier this year, have regained their footing in recent weeks. Foto: Steve Luciano/AP

Major cryptocurrencies including Bitcoin and Ether have surged over the past week, but technical indicators show they're butting up against a key resistance level.

The Bloomberg Galaxy Crypto Index, which includes most of the largest digital tokens, is nearing a critical juncture at the 400 mark, which has acted as both a support and a resistance line since March. A break below it led to one of its largest-ever selloffs earlier this year, but technical analysis now suggests a break higher could presage a rally that potentially takes the gauge to an annual high...

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