The cryptocurrency market's recovery continues to gain momentum. Over the week, total market capitalization rose from $2.15 trillion to $2.26 trillion.
During this period, Bitcoin climbed 3.26%, Litecoin advanced by 4.15%, Ripple added 0.90%, and Ethereum surged by 8.53%.
Bitcoin
Bitcoin’s chart shows a continuation of an upward correction within a gentle downtrend. The leading cryptocurrency has reached the upper boundary of its sideways range between 57,686 and 64,522. From here, the price may either turn back for a local correction down to the support at 57,686, or it may break out the 64,522 level and consolidate above. In the latter scenario, the next growth target for BTC/USD will be near the resistance at 68,976.
Ripple
Ripple has moved within the sideways range between 0.5089 and 0.5865 and is currently testing its resistance level.
The price may either turn down and return to the range’s support, or consolidate above 0.5865, which would allow XRP/USD to target further growth towards 0.6729.
Ethereum
Ethereum has risen past 2456.85 and is halfway to its next target at the resistance level of 2780.86.
Alternatively, a rollback to the support at 2456.85 could occur, and if this level fails to hold, Ethereum may consolidate below with further weakening toward 2132.83.
Litecoin
Litecoin is consolidating below the resistance level within the sideways range between 57.91 and 68.80. From here, LTC/USD may turn down and retrace to the support at 57.91. Should it break out and hold above the resistance at 68.80, the next growth target would be 76.95.
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