In the course of the week, the cryptocurrency market demonstrated growth taking a cue from Bitcoin, which surpassed the $30,000 mark.
Meanwhile, the market capitalization has increased ever so slightly, from $1.18 trillion to $1.25 trillion. In the course of 7 days, Bitcoin is up almost 8%, Ethereum is up over 6%, Ripple is up over 2%, and Litecoin is up over 3.5%.
Bitcoin
Bitcoin broke out the resistance at 28,790 this week and rose above the $30,000 price mark. The key cryptocurrency has a small movement range to the resistance at 30,973.
If BTC/USD is able to overcome this boundary as well, the area near $33,000 per coin will serve as the next growth target.
Ripple
Ripple continues to trade within a narrow range between 0.4828 and 0.5097, putting the strength of its resistance to the test.
From this area, the price may both reverse to the support of the sideways range and attempt to consolidate above the resistance at 0.5097, continuing to increase towards the area of 0.5500.
Ethereum
Ethereum grew within the corridor between 1896.78 and 2017.41. From this technical position, the second cryptocurrency may go back to the sideways trend’s support or proceed to put the strength of its upper boundary to the test.
Should the price consolidate above 2017.41, the level of 2155.47 will serve as the next growth target for ETH/USD.
Litecoin
Litecoin has been trading within the corridor between 88.44 and 97.17 for the third week in a row. The LTC/USD price may travel to any of the boundaries of the range from the middle of the sideway trend.
The price increase of the main cryptocurrency was insufficient to interrupt the sideways dynamics of LTC/USD. The pair will need an even stronger driver in order to change technical benchmarks.
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