- Technical Overview of Altcoins: Ethereum and XRP Struggle to Break Through Major Resistance Levels:
Ethereum is trading above the support level of $2100, with its short-term trend remaining neutral with a slight upward bias, as the price stays stable above the key $2000 level. The overall technical structure indicates a bearish trend, with the descending resistance line limiting Ethereum's upward movement.
The 50-day exponential moving average (EMA), around $2144, shows slight stability above the spot price, aligning with this tone, while the 100- and 200-day EMAs, at $2369 and $2698 respectively, confirm that Ethereum is still trading within a medium-term downtrend. Momentum indicators are balanced, with the Relative Strength Index (RSI) hovering near 52 on the daily chart, and the MACD line slightly above its signal line, indicating only slight buying pressure after the recent rebound.
Daily ETH/USDT Chart
The immediate support level for Ethereum is at $2100, followed by its recent low in the $1990-2000 range. Any breach of this level could lead to further decline toward $1850. On the upside, initial resistance is observed near the $2144 area at the 50-day EMA, with a stronger barrier at the previous high near the 100-day EMA, around $2369.
Meanwhile, XRP is trading above $1.30, with a slight downward bias in the short term, as the price remains below the 50, 100, and 200-day EMAs, which continue to decline and hinder recovery attempts. Momentum indicators confirm this bearish trend, with the MACD below its signal line on the daily chart and the negative histogram shrinking, indicating weak but ongoing bearish pressure. The RSI remains around 39, below the midpoint of 50, reflecting seller dominance rather than overselling.
Daily XRP/USDT Chart
The current resistance level for XRP is around $1.33, where recent rebound attempts have stalled, followed by $1.35 and the 50-day EMA at $1.42. A break above this level could open the way toward $1.45, then the range between $1.52 and $1.54. On the downside, initial support is noted at the recent low around $1.30, and if breached, the levels of $1.28 and $1.25 could serve as deeper correction points within the broader downtrend.
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