The cryptocurrency market bounced back slightly following losses from the previous week. Over the span of seven days, market capitalization increased from $2.13 trillion to $2.14 trillion.
During the week, Bitcoin gained less than 1.00%, while Litecoin dropped by 2.82%, Ripple declined by 2.53%, and Ethereum decreased by 1.35%.
Bitcoin
During its decline, Bitcoin approached the support at 52,880 but managed to rebound and return to test the resistance at 57,686. The strength of this resistance level is currently being put to the test.
Should the primary cryptocurrency establish itself above the 57,686 level, the next recovery target would be the resistance at 64,728.
Ripple
Despite its decline, Ripple maintained a position above the support of the range between 0.4336 and 0.5089. If the XRP/USD price holds above 0.4336, it could continue its recovery within this specified range.
However, a drop below 0.4336 would set a new downside target at 0.3525.
Ethereum
Ethereum dipped below the 2927.91 level momentarily but managed to remain above this support. Currently, the second-largest cryptocurrency has surpassed the psychological level of $3,000 per coin, suggesting potential for a rebound towards the resistance at 3,293.59.
Litecoin
Litecoin dropped to the support at 57.91 before bouncing back above it, recovering to the resistance at 68.80. From here, two scenarios are plausible: either a reversal back towards 57.91 or a breakout above and consolidation higher. The latter scenario could strengthen the price towards the next resistance at 76.95, indicated by a dashed line.
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