Last weekend was particularly bullish for Star Crypto as prices remained well above attainable levels. While the bears attempted to limit the price somewhat, the bulls stayed above the support. Therefore, while Bitcoin has retained some strength, altcoins such as Ripple (XRP), Litecoin (LTC), Cosmos (ATOM) and Tezos (XTZ) are soon close to showing diversified trends.
Ripple (XRP)
Ripple price is currently looking bearish, but it has shown a remarkable rally over the past week. XRP price gained over 15% to reach a monthly high of around $0.3623. However, currently the bulls are a bit tired and hence the price has also come down heavily. Despite the current trend, XRP price appears primed to hit the target above the monthly high soon.
XRP price has been consolidating between important support and resistance levels over the past few hours, awaiting confirmation of the upcoming trend. The bullish momentum may be hampered by the fierce competition between long and short trades. However, the bulls are expected to gain strength in the coming days, the price will move higher from the $0.3759 resistance level to $0.4 level.
Litecoin (LTC)
Litecoin, despite the recent price drop, is showing huge positive momentum by trading along a rising parallel channel. Each time the price firmly held lower support, the bears attempted to break through these levels. Hence, while maintaining strength, the LTC price is likely to gain around 15% this week.
Since the early trading hours, LTC price declined marginally and reached the $60.5 support area. After consolidating around these levels for some time, the price could make a subtle rally to reach the target around $70. Although, a slight decline can be expected, but the north direction may restore its momentum.
universe (atom)
Cosmos price firmly maintained a lower support at $11 and pulled a major leg up to reach the target above $17. However, the bearish intervention has affected the price to some extent at present, which may remain for a short period of time.
Currently, ATOM price has been under the influence of bulls which could end the bearish effect. The price is likely to rally very soon and reach the $20 level soon. Here, the possibility of rejection may emerge and hence an opportunity for the small traders to play it up.
Tezos (XTZ)
Tezos price has been testing the lower support area for a long time following the recent price action, but is forming a notable bullish pattern. The bull is trying very hard to clean the neckline but facing some hurdles. However, the asset appears to be close to a significant breakout that could push the price up to 25% soon.
The current trade setup shows that XTZ price is poised to undergo major breakouts everywhere. Mainly due to the formation of a double bottom structure that aims to break the crucial $2 resistance initially, which could lead to a rise above $3 soon.