A Technical Look at Altcoins: Ethereum Supports Recovery While XRP Price Gains Remain Limited
Ethereum is currently trading at $2,378, maintaining a positive short-term upward trend, as the price remains above the 50-day and 100-day exponential moving averages, which are approximately $2,178 and $2,357 respectively. The breakout zone of the descending trendline around $2,301 supports this rise, while the 200-day exponential moving average remains near $2,673 overhead, forming a key resistance barrier for the trend.
The bullish momentum aligns with the overall bullish tone, as evidenced by the Relative Strength Index oscillating in the mid-sixties on the daily chart and the MACD indicator remaining positive and advancing, indicating buyers are currently in control.
Daily ETH/USDT Chart
On the downside, Ethereum’s immediate support first appears at the 100-day exponential moving average around $2,357, followed by the previous breakout level near $2,301, while the 50-day exponential moving average at $2,178 provides a broader demand zone during deeper pullbacks. On the upside, the 200-day exponential moving average at $2,673 marks the main resistance level. Sustained movement above this long-term average would bolster bullish expectations and open the door to a longer recovery phase.
Meanwhile, XRP is trading around $1.37, maintaining a short-term downtrend, as the price remains below all major moving averages. The 50-day exponential moving average at $1.41 represents the first resistance, while the 100-day EMA at $1.56 and the long-term 200-day EMA at $1.81 reinforce the overall bearish trend. The cryptocurrency remains below these moving averages.
The MACD chart has turned slightly positive, with the indicator slightly above its signal line, indicating momentum improvement, but this has not yet effectively challenged the prevailing bearish structure.
Daily XRP/USDT Chart
On the bullish side, XRP’s initial resistance lies at the 50-day exponential moving average around $1.41, followed by the 100-day EMA near $1.56. A clearer recovery would require a daily close above the descending trendline resistance zone near $1.73, ultimately surpassing the 200-day EMA at approximately $1.81 to ease overall bearish pressure.
On the downside, the lack of nearby demand zones makes XRP vulnerable to further correction, and the short-term trend will likely depend on how the market reacts to the $1.40 area, and whether buyers can or fail to regain the 50-day EMA as support.
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