The cryptocurrency market has gradually regained some ground this week, with its total market capitalization increasing from $1.99 trillion to $2.05 trillion.
That being said, the leading altcoins remain in negative territory. Over this period, Bitcoin gained 2.39%, Litecoin dropped by 6.97%, Ripple declined by 2.21%, and Ethereum weakened by 1.63%.
Bitcoin
Bitcoin is experiencing a gradual upward correction within a broader, gentle downward trend. The cryptocurrency bounced off horizontal support at 52,880 and reached the resistance level of 57,686.
From here, the price may either continue recovering within the range between 57,686 and 64,522 or pull back to 52,880 if the resistance at 57,686 holds.
Ripple
Ripple declined to the support level of 0.5089 but rebounded and still has room to move toward the resistance at 0.5865.
Alternatively, a breakout of the support at 0.5089 could lead to further declines, with a target of 0.4336.
Ethereum
Ethereum fell to 2132.83 but bounced back and is now approaching the resistance at 2456.85. If the price consolidates above 2456.85, it could open the path to 2780.86.
Another possibility is a retreat to 2132.83 for a retest of the support level.
Litecoin
Litecoin returned to the support range between 57.91 and 68.80. From 57.91, the price may recover sideways, or a breakout of this support and consolidation below it could push it down to 49.12.
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