The level of volatility in the cryptocurrency market is still very close to its all-time lows. Even though prices of the leading cryptocurrencies have dropped slightly, liquidity has not improved.
The total market capitalization went down from $1.18 trillion to $1.13 trillion in the course of the past week. During this time period, Bitcoin and Ethereum are down over 3.5 percent and 10 percent, respectively, while Litecoin is down over 10 percent and Ripple is down over 7 percent.
Bitcoin
After a prolonged period of consolidation, Bitcoin is currently putting the support of the sideways range between 28.790 and 30.973.
A continuation of the decline is possible if the BTC/USD price consolidates below 28,790, with the next significant target to the south below 26,480.
Ripple
Following the confirmation of resistance at the 0.6600 level, Rripple continued to fall. Price has updated previous lows from August 7 and now has some room to travel toward the support at 0.5513.
Ethereum
Ethereum has surpassed the support level of the sideways range between 1784.02 and 1896.78 and is currently putting it to the test.
If the price is able to break out 1784.02 and consolidate below it, the next target to the south will be the horizontal level of 1678.21. A further possibility involves the price of ETH/USD recovering somewhere between 1784.02 and 1896.78 during the next few days.
Litecoin
Litecoin exited the range between 82.90 and 91.12 in the downward direction where it reached the next support at 73.43. If support at 73.43 fails to hold the ground, LTC/USD might rise to 82.90; else, it could continue dropping to 64.70.
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