Weekend Price Outlook: Tezos (XTZ), Litecoin (LTC) and Ripple (XRP)

With ETH and BTC within the limelight, altcoins like Tezos and Litecoin might see additional positive aspects

Litecoin, Ripple and Tezos are amongst altcoins to see a minor drawdown in costs this Friday morning. However contextualised in opposition to the broader crypto market, sentiment appears to be constructive as merchants eye new strikes.

Right here’s a short perspective on the technical outlook for Litecoin (LTC), Tezos (XTZ), and Ripple (XRP) forward of Friday’s $625 million BTC choices expiry.

Tezos value

XTZ value is buying and selling close to a crucial resistance zone that has beforehand contributed to the general value path of the coin because the 37% crash on 19 Could. The worth ceiling is round $3.31 on the day by day chart, which retains XTZ/USD inside a big descending channel.  

XTZ day by day chart. Supply: TradingView

Technicals (the day by day RSI is above 60 and the day by day MACD has fashioned a bullish crossover) counsel the short-term outlook favours contemporary upside strikes.

If bulls breach the resistance line of the channel, targets within the subsequent few days could be on the 23.6% Fib stage ($3.57) and the 38.2% Fib stage at ($4.49).

On the draw back, bears can goal the 50 EMA ($3.00) and the horizontal line round $2.08.

Litecoin value

LTC/USD is trying to lengthen positive aspects above $140 after an honest bounce to intraday highs of $147. The RSI is close to the overbought territory, whereas the MACD on the day by day chart is starting to extend within the bullish zone.

The 50% Fib retracement stage ($151) and the 61.8% Fib retracement stage ($162) present the following two main resistance zones. If the worth clears above these hurdles, bulls might eye $180 after which $200. 

LTC/USD day by day chart. Supply: TradingView

On the draw back, bids beneath $140 might encourage bears to focus on the 50 MA ($134) and the essential zone close to the $130 stage. A break to the 23.6% Fib stage ($127) might see LTC/USD refresh losses to $120.

Ripple value

XRP bounced off the $0.52 help stage on 21 July and rose to highs of $0.77, testing the 200 MA. The zone can also be residence to a long-term resistance line from November 2020, which is placing strain on the bulls. 

XRP/USD day by day chart. Supply: TradingView

Nonetheless, the RSI and the MACD provide bullish indicators, suggesting consumers are in cost brief time period. Additionally, the looks of a bullish flag sample on the day by day chart suggests bulls would possibly break above the 200 MA ($0.79) and goal new momentum above the 50% Fibonacci retracement stage ($0.81) after which $0.91.

On the flipside, major help is at $0.70, $0.62 and $0.51.