Over the past week, the cryptocurrency market has shown modest growth, yet its overall trend remains relatively flat in the medium term. The total market capitalization increased slightly from $1.08 trillion to $1.09 trillion.
Bitcoin and Ripple have experienced nearly a 5.0% increase in value, whereas Ethereum and Litecoin saw more modest gains of less than 1% over the course of seven days.
Bitcoin
Amidst the October surge, Bitcoin approached the resistance of the sideways range between 26,480 and 28,790. That being said, the leading cryptocurrency struggled to surpass the 28,790 level, leading to a retracement to the midpoint of this range. Consequently, BTC/USD currently finds itself in a position where it could potentially move towards either end of this price range.
Ripple
Ripple made two recovery attempts towards the resistance at 0.5513 but experienced downward rebounds. The price is currently heading toward the support level at 0.5097. Should this level be broken out, the next downward target will be the horizontal line at 0.4828.
Ethereum
Ethereum has consolidated within a sideways range between support at 1574.10 and resistance at 1678.21. Following a downward rebound from the upper boundary of this range, there is room for a potential decline towards the support marked with dotted lines. If market conditions favor an uptrend and the price tests the 1678.21 level, the next target for potential growth would be at 1784.02.
Litecoin
Meanwhile, Litecoin is trading within the range between 57.68 and 68.08 marked with two green dotted lines. Following a decline from the resistance at 68.08, there is enough room for the price to move towards the support range. However, in the event of a broader cryptocurrency market rally and a breakout of the 68.08 horizontal level, 73.43 will serve as the next target for potential growth.
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