The cryptocurrency market is currently undergoing a period of consolidation. Its market cap went down from $1.21 trillion a week ago to $1.19 trillion today. Bitcoin and Ripple barely moved at all over that time period, whereas Ethereum and Litecoin both fell by around 1 percent.
Bitcoin
Bitcoin continues to trade in the sideways range between the $30,000 psychological level and the $30,973 resistance.
As we can see on the daily chart of the main cryptocurrency, there is a bull flag, suggesting that a breakout of $30,973 and a subsequent increase to the target at $34,264 is technically likely.
Ripple
Ripple keeps trading below the resistance of the sideways range between 0.4397 and 0.4828. Given the successively falling lows, XRP/USD is technically more likely to travel downward toward the level of 0.4397 which the price has sufficient room to move to.
Ethereum
Ethereum has been consolidating below the resistance at 1896.78. From this area, the second cryptocurrency has enough room to travel to support at 1784.02. Aside from that, if the ETH/USD price breaks out 1896.78 and consolidates above it, another potential possibility is a climb toward the next goal of 2017.41.
Litecoin
Litecoin has been falling following the June 30th price spike. The quotes are currently putting the level of 97.17 to the test. From this area, they may either travel to the resistance at 106.30 if there is a further increase or drop to the support at 91.1.
151
