The cryptocurrency market keeps breaking records, with Bitcoin hitting new all-time highs multiple times this week.
Market capitalization surged from $2.47 trillion to $3.01 trillion within a week. During this period, Bitcoin climbed 20.68%, Litecoin increased by 14.72%, Ripple jumped 27.50%, and Ethereum gained 13.46%.
Bitcoin
Bitcoin reached a new record high of $93,480 on Wednesday but couldn't overcome the 161.8 Fibonacci extension level at $90,899 and is now trading below it.
If a downward pullback occurs, the nearest support level is at $81,626. The breakout of the resistance at $90,899 and consolidation above it would pave the way for Bitcoin to reach the psychological milestone of $100,000.
Ripple
Ripple followed the market trend, climbing to the resistance level of 0.7460. A price pullback to the support at 0.6729 may lead to continued trading within the sideways range between 0.7460 and 0.6729. If XRP/USD exits the sideways range upward, the next growth target is 0.7971.
Ethereum
Ethereum surged to the resistance level of 3293.59 but then pulled back. There’s still some room for further movement toward the support at 2927.91 during the current correction. If the 3293.59 level is broken out, the next target for Ethereum's growth will be the horizontal level at 3586.13.
Litecoin
Litecoin is currently testing the 81.76 resistance level. It it is broken out and the price consolidates above it, the next target could be 88.12. Alternatively, a pullback to the dotted support at 68.80 is possible.
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