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- Technical Overview of Altcoins: Ethereum and XRP Still Limited in Gains:
Ethereum is trading at $2,185, maintaining a short-term bearish corrective trend, as it remains below the 100- and 200-day exponential moving averages, which are approximately $2,353 and $2,677 respectively. The price stays slightly above the 50-day exponential moving average at $2,163, which provides initial dynamic support. Meanwhile, the long-term downward resistance line, with a breakout level near $2,314, continues to restrain any potential upward movement.
At the same time, the positive MACD reading above zero on the daily chart and RSI around 54 indicate modest bullish momentum, but this remains constrained by the dominant upper averages.
Daily chart of ETH/USDT pair
On the bullish side, immediate resistance for Ethereum is observed at the breakdown zone of the descending trendline around $2,314, followed by the 100-day exponential moving average at $2,353. Sustained movement above these levels is required to ease downward pressure before reaching the 200-day exponential moving average near $2,677. On the downside, the 50-day exponential moving average at $2,163 represents the first significant support level. A daily close below this level would lead to a deeper correction, making Ethereum vulnerable to renewed selling as long as it trades below the higher exponential moving averages.
Regarding XRP, its price is trading at $1.32, maintaining a short-term bearish trend, as it remains below the 50-, 100-, and 200-day exponential moving averages, which are at $1.41, $1.56, and $1.81 respectively. The long-term downward resistance line, with a breakout level near $1.74, reinforces the broader bearish structure.
Meanwhile, the RSI stands at approximately 43 on the daily chart, and the slightly positive but stable MACD indicates weak momentum rather than an imminent bullish reversal.
Daily chart of XRP/USDT pair
On the upside, initial resistance is at the 50-day exponential moving average around $1.41. A daily close above this barrier is needed to ease immediate downward pressure and open the way toward the 100-day exponential moving average near $1.56. To the north, the descending resistance trendline near $1.74 and the 200-day exponential moving average around $1.81 form a stronger medium-term supply zone, which buyers will need to reclaim to challenge the prevailing bearish structure.
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$ETH
XRP faces a deteriorating technical structure, as the main moving averages hinder recovery attempts.