- Technical Outlook on Altcoins: Ethereum and XRP Eyeing Short-Term Rebound
Ethereum is approaching the resistance level at $2,300 as of this report on Wednesday, after testing the support level at $2,110 on Tuesday. A slight uptick in the (RSI) indicator to 27, within the oversold region on the daily chart, suggests a potential slowdown in bearish momentum. Traders will watch for the RSI to rise toward the midline to confirm a steady price recovery, targeting the next key hurdle at $2,400.
Meanwhile, the MACD indicator remains below the signal line on the same chart as investors reconsider th
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