As attempts are made to weaken the cryptocurrency market, the current phase of consolidation and minimal volatility persists.
The market capitalization dropped from $1.22 trillion the previous week to $1.18 trillion as a result of the decline in the price of cryptocurrencies. During this time period, Bitcoin had a loss of almost 2%, Ethereum and Litecoin both saw decreases of over 1%, while Ripple dropped by 9.53%.
Bitcoin
Bitcoin fell below the bottom boundary of the sideways range between 28,790 and 30,973 and is now consolidating at that support.
From a technical standpoint, getting out of this jam is theoretically conceivable. However, if BTC/USD breaks out the 28,790 level and consolidates below it, the price might continue to fall to the area of $26,000 per coin.
Ripple
Ripple is correcting after having spiked by more than 70%. XRP/USD quotes consolidated in the range between 0.6600 and 0.8487 and are trading beside its support. If it fails to hold, 0.5513 will serve as the next target to the south.
Ethereum
Ethereum's price has been steadily going down and recently settled below 1896.78. A pullback to the downside from there will enable the price to continue its descent into the 1784.02 goal.
The ETH/USD currency pair may go back into the range between 1896.78 to 2017.41 and recover. This would be an alternative scenario.
Litecoin
Litecoin has broken out the support at 91.12 and is currently attempting to consolidate below it. The next decline target is 82.90. If the breakout turns out to be false, the price may go back to the corridor between 91.12 and 97.17 and proceed to increase locally.
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