The final week of February witnessed a swift surge in the cryptocurrency market, with the leading cryptocurrency soaring above $60,000, nearing its all-time high, and propelling altcoins alongside.
Throughout the week, the crypto market capitalization surged from $1.96 trillion to $2.33 trillion. Bitcoin surged by 22%, Ethereum and Litecoin saw gains of approximately 18%, while Ripple experienced a 9% increase.
Bitcoin
Bitcoin went up from $50,000 to $62,000 within a week. The primary targets for the leading cryptocurrency's growth are the resistance levels at $64,728 and the historical peak around $69,000 per coin.
At the moment, the immediate resistance for Bitcoin stands at $57,686.
Ripple
Amidst its ascent, Ripple reached the resistance level of $0.5865, whose strength is currently being put to the test. Should consolidation above this level occur, it could pave the way for the leading cryptocurrency toward the subsequent target of $0.6729. Alternatively, a retracement to support at $0.5089 is possible.
Ethereum
Ethereum is on an upward trajectory in tandem with the leading cryptocurrency. The ETH/USD price has solidified its position above the $3,293.59 level and is edging toward the resistance at $3,586.13. A breakout and consolidation below this level would propel quotes toward the next target of $3,992.43.
Litecoin
Litecoin has encountered resistance at $81.76 and is currently undergoing testing. A breakout and consolidation above this level would pave the way for the price to target $88.12. However, failure to overcome this resistance could result in a retracement to the nearest support level at $75.60.
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