For the second week running, the cryptocurrency market has been consolidating ahead of the arrival of new volatility drivers.
The market capitalization has increased from $1.16 trillion to $1.21 trillion. Bitcoin gained a little over 1%, Ethereum gained 4%, Ripple gained 2%, and Litecoin gained nearly 22% in the same time period.
Bitcoin
Bitcoin's price continues to consolidate above the $30,000 psychological level, and ithas recently begun to test the $30,973 resistance mark.
In order for the major cryptocurrency to continue increasing toward the goal of $34,264, it has to consolidate above $30,973.
Ripple
Ripple is currently testing the resistance of the sideways range between 0.4397 and 0.4828. From here, there are two possible ways that events could unfold for XRP/USD. The first is a drop to the support of the said range. The second is an increase to 0.5097 following the consolidation above the 0.4828 level.
Ethereum
Ethereum surged above the 1896.78 resistance. The update of the week’s highs will enable quotes to continue moving toward the next target at 2017.41.
A return back into the corridor between 1784.02 and 1896.78 and a drop, if the price fails to hold above 1896.78, may serve as an alternative scenario.
Litecoin
On June 30th, Litecoin price surged, passing three technical barriers. The coin, however, failed to consolidate higher than 106.30. It is currently on its way to support at 97.17.
Given the price’s attempts to recover within the corridor, we cannot rule out a retest of the 106.30 level. Its breakout from the top down will let the pair continue climbing to the June highs.
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