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


With ETH and BTC within the limelight, altcoins like Tezos and Litecoin might see additional good points

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

Tezos worth

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

XTZ each day chart. Supply: TradingView

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

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

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

Litecoin worth

LTC/USD is seeking to lengthen good points above $140 after a good bounce to intraday highs of $147. The RSI is close to the overbought territory, whereas the MACD on the each day chart is starting to extend within the bullish zone.

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

LTC/USD each 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 degree. A break to the 23.6% Fib degree ($127) might see LTC/USD refresh losses to $120.

Ripple worth

XRP bounced off the $0.52 assist degree 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 each day chart. Supply: TradingView

Nevertheless, the RSI and the MACD supply bullish alerts, suggesting consumers are in cost quick time period. Additionally, the looks of a bullish flag sample on the each day chart suggests bulls would possibly break above the 200 MA ($0.79) and goal new momentum above the 50% Fibonacci retracement degree ($0.81) after which $0.91.

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

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