Should One Invest In Litecoin, Ripple And Link?

LITECOIN ANALYSIS: JULY, 2021

Technical:

Litecoin is a powerful, political and economic tool which enables anyone to transact with anyone globally. Should you invest in Litecoin at current levels? Here’s the technical analysis of Litecoin.

Litecoin is trading at $136.99. After giving a breakdown of the support (orange) zone, it made a low of $105. Since then, it has risen gradually and formed a symmetrical triangle on the daily time frame. The coin has also failed to break above the level of $150. The previous support zone has now turned into a strong resistance.

The coin is trading below its 50-day and 200-day exponential moving averages. They have also given a death cross on account of the consolidation phase it has been in.

Although the volumes are lacking, the bullish volumes are more than the bearish volumes near the support trendline. This is a good sign of reversal from the crash.

Litecoin analysis
Source: tradingview

Market Sentiment:

The Relative Strength Index is showing mild price strength for the coin. It has gradually drifted upwards from the lower levels, taking support at the trendline. It is currently positioned at 43.68, with a potential to go higher.

The MACD is above the signal line, giving a ‘buy’ call to investors.

Litecoin RSI MACD
Source: tradingview

Conclusion:

On the breakout and close above $142.96, $156.54 and $180.48 are the targets on the upside.

On the breakdown and close below $129.96, $118.03 and $105 are the targets on the downside.

Should you invest in Litecoin? Investors can look to invest in Litecoin if it sustains and gives a breakout with good volumes.

RIPPLE ANALYSIS: JULY, 2021

Technical:

RippleNet provides a better payment experience and enables greater economic opportunities to everyone, everywhere. Should you invest in Ripple at current levels? Here’s the price analysis of Ripple.

Ripple is trading at $0.63. It is at a very crucial level. Break of either trendline will decide its trend in the future. The range of $0.64 to $0.66 is a flip zone, from which the price can see a rejection or a smooth breakout. One can assume that the yellow zone is an order block where institutions place most buy or sell orders.

The coin is facing major resistance from its 50-day exponential moving average. It is unable to close above the moving average. The trend is bearish since it is also below its 200-day exponential moving average.

The bullish volumes on the 4-hour chart are higher than average. If these volumes continue then a breakout of the order block region cannot be ruled out.

Ripple analysis
Source: tradingview

Market Sentiment:

The Relative Strength Index is showing price strength. It is taking support at the lower trendline. It is currently positioned at 47.75, with a potential to reverse from the support.

The MACD is above the signal line, giving a ‘buy’ call to investors.

Both indicators hint at a possible breakout of the resistance zone.

Ripple RSI MACD
Source: tradingview

 Conclusion:

On the breakout and close above $0.65, $0.68 and $0.72 are the targets on the upside.

On the breakdown and close below $0.62, $0.60 and $0.58 are the targets on the downside.

Investors must wait for the above level to break before accumulating Ripple.

Technical:

Chainlink is a blockchain developed by a number of researchers and creators who share a common goal of advancement. Here’s the price analysis of Chainlink.

Chainlink has been consolidating in a narrow rectangle pattern after a downtrend. This rectangle ranges from $16.68 and $20.65 on the daily time frame. The coin can continue its downtrend if it gives a negative movement below the support. Else, it can reverse and mark the end of the bearish trend.

The coin is trading below its 50-day and 200-day exponential moving average. Its overall trend is thus bearish. In addition to that, the moving averages have given a death cross following the heavy down trend.

The bearish volumes have periodically increased while the bullish volumes are next to negligible.

Chainlink analysis
Source: tradingview

Market Sentiment:

The Relative Strength Index is signaling price weakness for the coin. It has faced rejection from the resistance trendline thrice recently. The RSI stands at 41.66, with a potential to go lower.

The MACD is above the signal line, giving a ‘buy’ call to investors.

Both indicators are showing indecisiveness for the coin in the upcoming weeks.

Chainlink RSI MACD
Source: tradingview

Conclusion:

On the breakdown and close below $16.68, $15.04 and $12.28 are the targets on the downside.

On the breakout and close above $20.66, $22.71 and $26.17 are the targets on the upside.

The upside is restricted and highly unlikely. Investors must wait before investing in Chainlink until it gives a breakout above the mentioned level.