Since liquidity is still low and there are many long-term coin holders among investors, the cryptocurrency market continues to move sideways, reacting cautiously to the news.
The market cap dropped from $1.18 trillion last Friday to $1.17 trillion today. Bitcoin's volatility over this time period was nearly zero, whereas Ethereum plummeted by roughly one percent, Litecoin by nine percent, and Ripple by six percent.
Bitcoin
Bitcoin has been consolidating for the past week at the support of the sideways range between 28,790 and 30,973. Even with the emergence of fundamental factors, the low liquidity on cryptocurrency exchanges generates muted volatility.
In light of this, the most prevalent cryptocurrency's technical scenarios have not changed. The BTC/USD price has two possible paths forward: either a recovery in the corridor between 28,790 and 30,973, or a breakout and consolidation lower, which would pave the way for the price to move towards the area of $26,000 per coin.
Ripple
Ripple's price falls in tandem with the market, and its volatility increases. XRP/USD quotes hit the support of the range between 0.6600 and 0.8487 and are currently putting its strength to the test. If there is a breakout and consolidation below it, the price may continue to fall toward the horizontal line of 0.5513.
Ethereum
Halfway to the support of the corridor between 1784.02 and 1896.78, Ethereum continues to decline. After the price reaches 1784.02, a bounce from it upward is likely if the leading cryptocurrency, which controls the tempo of the market, continues to consolidate.
Litecoin
Litecoin has been trading under pressure. LTCUSD has reached the support of the 82.90 - 91.12 sideways range and is currently putting its strength to the test. If the quotes are able to consolidate below it, the horizontal line at 73.43 will be the next target for price weakness.
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