Last weekend was a time when momentum reversed for the cryptocurrency market. The bulls stayed above the support while the bears tried to restrain the price to some extent. So, while Bitcoin retains some strength, let’s take a look at altcoin projects to showcase various trends soon.
Analyst Sahana Vibhute expects bounce in XRP and LTC
XRP
Ripple price is currently bearish, but last week it showed a notable rally. However, it rose more than 15 in the last rally to reach the monthly high of $0.3623. The bulls seem a bit exhausted right now. Therefore, the prices are also largely empty. Regardless of the current trend, XRP price is poised to hit the target above monthly highs soon.
XRP price is consolidating between critical support and resistance levels over the past few hours. It is waiting for confirmation of an upcoming trend. The fierce competition between short and long trades has been barriers to growth. However, the bulls are likely to strengthen in the coming days and the price is likely to break past the resistance at $0.3759 and reach the $0.4 level.
Litecoin (LTC)
Despite the recent price drop, Litecoin is showing massive positive momentum with the ascending parallel channel. Price held the lower support firmly every time. The bears tried to break out of these levels. Therefore, while maintaining a solid uptrend, LTC price could increase by around 15% this week.
LTC price has seen a slight pullback since the early trading hours. It reached support around $60.5. After consolidating at these levels for a while, the price could recover nicely to hit the target of around $70. However, a slight pullback is also possible. But momentum is gaining upward momentum.
Cosmos (ATOM)
cryptocoin.com As you follow, Cosmos price has firmly held the lower support at $11. It then took a big leg up to hit the target above $17. However, bearish intervention has currently affected the price to some extent. According to the analyst, this decline may stay on the chart for a short time.
Currently, ATOM price is under the influence of bulls, which could override the bearish effect. There is a possibility that the price will recover well. According to the analyst, it is a scenario that will be expected to reach levels above $ 20. Here comes the possibility of rejection. So this is an opportunity for short-term investors to play it.
Tezos (XTZ)
After the recent price action, Tezos price has been testing the lower support area for a long time. However, it creates a significant bullish pattern. Bulls work hard to clear their neckline, but they face some hurdles. However, the altcoin price is on the verge of a major breakout where it will soon rise another 25%.
The current chart shows that altcoin price is poised for big breakouts everywhere. Mainly due to the formation of a double bottom structure, which initially aims to break the key $2 resistance and could soon lead to a massive rally above $3.
Altcoin market ready for Ethereum merge
Ethereum (ETH)
According to the next analyst, Ilan Tenennbaum, the critical level investors should follow is $1,700. If the $1,700 main level is maintained, Ethereum will continue its bullish run. Later, the bulls will try to take the next major resistance level at $2,000. However, if something goes wrong with the merge, the next level of support to watch is $1,500.
