The cryptocurrency market demonstrated mixed dynamics this week. The US Securities and Exchange Commission (SEC) approved the launch of spot ETFs on Ethereum, which began trading on July 23, though the market reaction was subdued.
Throughout the week, market capitalization rebounded from $2.33 trillion to $2.39 trillion. Bitcoin gained over 0.17%, while Litecoin dropped 1.72%, Ripple declined by 0.78%, and Ethereum fell by 1.69%.
Bitcoin
Bitcoin rose above the 64,728 level this week, opening a path to the next resistance at 68,976.
The BTC/USD price is likely to remain in this range until new volatility catalysts emerge. If it exits downward, quotes could retreat to the support level of 57,686.
Ripple
Ripple has strengthened above the 0.5865 level, and as long as this support holds, the price has the technical potential to recover to the target of 0.6729 after surpassing last week's highs.
In case of a decline, an alternative scenario would be a return to the range of 0.5089 - 0.5865.
Ethereum
Ethereum has been consolidating for the second week within the range between 3293.59 and 3586.13. If it exits upward, the next growth target will be 3724.33.
Litecoin
Litecoin continues to consolidate within the local range between 68.80 and 76.95, the two dotted lines. If the market experiences overall growth and LTC/USD exits this range upward, the next target for growth will be 81.76.
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