- Technical Outlook on Altcoins: Ethereum and XRP Look for Short-Term Rebound:

Ethereum's price remains within a range of $2900 to $3000, despite the overall trend leaning downward. The Relative Strength Index (RSI) at 39 on the daily chart is hindering its recovery, indicating that sellers continue to dominate the trend. Any move toward the midline could signal a shift in momentum from bearish to bullish.

The MACD indicator on the daily chart remains below the signal line, which may prompt investors to reduce their exposure and protect their capital. The red histogram bars below zero continue to expand, confirming short-term bearish outlooks for Ethereum.

Looking ahead, a break above $3000 could accelerate the bullish trend toward the 50-day exponential moving average at $3149, the 100-day EMA at $3274, and the 200-day EMA at $3329. However, Ethereum's bearish trend could extend if the price closes below $2900 and drops to test its December low at $2716.

Daily chart of ETH/USDT pair

As for the XRP pair, the price remains stable above the support level of $1.90 but stays below the downward-sloping moving averages, reinforcing the bearish trend. The 50-day EMA at $2.06, the 100-day EMA at $2.18, and the 200-day EMA at $2.31 are acting as resistance levels.

The MACD indicator confirms the overall bearish outlook, as it remains below the signal line. The red histogram bars continue to expand below zero, highlighting the potential for XRP to decline. If the downward trend persists below $1.90, a sell-off could push the price down to its April low of $1.61.

Daily chart of XRP/USDT pair

The Relative Strength Index (RSI) needs to recover above the midline to influence the next bullish phase. Traders will be watching for a close above the $2.00 threshold before activating risk management.