Cryptocurrencies have faced pressure this week, with market capitalization dropping from $2.4 trillion to $2.25 trillion. Over the past seven days, Bitcoin has declined by 7.63%, Litecoin by 5.04%, Ripple by 6.04%, and Ethereum by 6.40%.
Bitcoin
Bitcoin dipped below $59,000 per coin this week but managed to recover and stay above the psychological level at $60,000. From this level, it has the potential to rise to the resistance at $64,728.
That being said, if the $60,000 support fails, it could drop to $57,686.
Ripple
Ripple pulled back from the resistance at 0.5089 and is now midway to the support at 0.4336. If XRP/USD consolidates below Monday's lows, the decline may continue. Otherwise, the price might rebound to the 0.5089 resistance.
Ethereum
Ethereum tested the support level at 3293.59, which was able to hold, causing the second-largest cryptocurrency to rebound. The recovery target is now the resistance at 3586.13.
Alternatively, a breakout and consolidation below the support at 3293.59 could pave the way for ETH/USD to reach the psychological level of $3,000 per coin.
Litecoin
Litecoin touched the dotted support at 68.80 but remained above it. From this point, it has potential to rise towards the resistance at 76.95 marked with dotted lines.
However, if the 68.80 level fails and the price consolidates below it, the next target for a decline would be 57.91.
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