- Technical overview of altcoins: Ethereum and XRP are under pressure:

Ethereum is trading at $2,317, surpassing the 50-day exponential moving average at $2,230, and breaking the previous downtrend resistance level near $2,310, which leans slightly in favor of buyers in the short term, while the price is consolidating below stronger support levels. The Relative Strength Index (RSI) on the daily chart at 54 indicates slight positive pressure. However, the MACD indicator has fallen into the negative zone, suggesting that upward attempts may not be completed unless renewed buying interest appears.

Daily chart of ETH/USDT pair

On the bullish side, immediate resistance is at the 100-day exponential moving average around $2,354. A decisive daily close above this barrier would pave the way toward the more important 200-day exponential moving average at $2,575, where the overall downtrend remains intact. On the downside, initial support is observed at the last trendline break level near $2,310, with the 50-day exponential moving average at $2,230 serving as a more significant technical support.

Meanwhile, XRP is trading at $1.43, maintaining a neutral bullish trend in the short term, as the price stays above the 50-day exponential moving average at $1.41, and the simple moving average of Bollinger Bands over 20 days at $1.39. Momentum conditions indicate a positive trend, with the Relative Strength Index (RSI) around 56 on the daily chart, while the MACD indicator is in the positive zone. Furthermore, the Money Flow Index (MFI) close to 74 suggests increasing buying pressure as the price continues to rise within the upper half of the Bollinger Bands range.

Daily chart of XRP/USDT pair

On the bullish side, immediate resistance is at the upper Bollinger Band around $1.48, where a clear daily close above this level would open the way toward the 100-day exponential moving average at $1.53, before a further barrier at the 200-day exponential moving average near $1.77. On the downside, initial support is observed at the current area and today’s opening price near $1.43, followed by the 50-day exponential moving average at $1.41, then the middle Bollinger Band around $1.39. Breaking this last area would reveal support at the lower Bollinger Band near $1.30, indicating a deeper correction phase.
$ETH ‌
$XRP ‌