Cryptocurrencies saw a slight recovery this week, with market capitalization rising from $1.95 trillion to $2.12 trillion.
Bitcoin increased by 0.25%, Litecoin by 2.39%, Ripple by 1.31%, and Ethereum by 1.35%.
Bitcoin
Bitcoin pulled back from the resistance level of the sideways range between 57,686 and 64,522 and is now moving toward support. If it fails to overcome last week’s lows, the primary cryptocurrency may retest the 64,522 resistance level.
Ripple
Ripple has been hovering near the support of the sideways range between 0.5089 and 0.5865 since last week. If the 0.5089 level holds, a recovery within this sideways range is likely. However, if the support at 0.5089 is broken out and there is a consolidation below it, the XRP/USD may drop to 0.4336.
Ethereum
Ethereum is consolidating below 2456.85, which could lead to a decline toward the next target of 2132.83.
The second scenario may involve an attempt to break out the resistance at 2456.85 and consolidate higher.
Litecoin
Litecoin has once again pulled back from the resistance of the sideways range between 57.91 and 68.80 and is approaching support. If it reaches 57.91, it could either bounce back up or break lower and consolidate below it. Another possibility is a return to 68.80 resistance marked with dotted lines with an attempt to break out and consolidate above it.
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