Cryptocurrency Market Analysis as of 1.12.2023


This week, the cryptocurrency market demonstrates mixed dynamics, with main coins experiencing a volatility of +/-2%.
The total capitalization has slightly increased from $1.41 trillion to $1.412 trillion. Notably, Bitcoin and Litecoin saw a 1% gain, while Ethereum and Ripple each incurred a 1.0% loss.

Technical Analysis


Bitcoin continues to consolidate below the resistance level of the sideways range between 34,264 and 37,993, with $38,000 serving as a crucial psychological level. If the price approaches it, there's potential for a breakout and further growth to around $40,000 per coin.



Ripple has entered consolidation within the sideways range between 0.5513 and 0.6600. From a technical standpoint, the price can move to either boundary as it navigates the middle of this sideways trend.



Ethereum continues to trade in the middle of the sideways range between 1896.78 and 2139.04. This week, the ETH/USD pair aims to consolidate above the intermediate level at 2017.41. If successful, quotes may continue to recover towards the resistance at 2139.04.



Litecoin has proceeded to consolidate within the sideways range between 64.70 and 73.43. From a technical perspective, the price has the potential to move to either boundary, with its direction likely aligning with the overall dynamics of Bitcoin.


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