Bitcoin surged to $70,000 per coin early in the week, fueled by excitement over US presidential candidate Donald Trump's speech at the weekend's Bitcoin conference. Trump emphasized that the United States should lead in cryptocurrency development to prevent China from dominating the field.
That being said, the BTC/USD pair couldn't maintain its position and pulled back to the support level of 64,522. If this support holds and the price rebounds, the next growth target will be 68,976.
Alternatively, a breakout of the 64,522 support level and subsequent consolidation below it could pave the way for a decline to 57,686.
Bitcoin
Bitcoin's recent surge hit resistance at 64,728 but failed to surpass it, causing the price to turn downward and remain below this level.
If the decline persists, the next target for weakening is 57,686. That being said, if Bitcoin manages to consolidate above 64,728, it may continue its ascent towards the target of 68,976.
Ripple
Ripple remained above the support level of 0.5865, suggesting potential recovery towards the resistance at 0.6729. However, if the 0.5865 support does not hold and the price falls below this level, the decline could continue to the next support at 0.5089.
Ethereum
Ethereum failed to overcome the resistance of the range between 2927.91 and 3293.59 and subsequently retreated. Currently, prices have room to move down to the lows from July 25. If these lows are updated, Ethereum could decline further to the support level at 2927.91.
Litecoin
Litecoin continues to trade within a narrow range between 68.80 and 76.95. If LTC/USD breaks out of this range upwards, the next target for growth is 81.76. That said, if the support at 68.80 is broken out, the price could drop to 57.91.
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