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- Technical Overview of Altcoins: Ethereum and XRP Are More Vulnerable to Losses:
Ethereum is trading at $2,286, maintaining its value above the 50-day exponential moving average at $2,265 and the super trend support near $2,145, indicating a cautious bullish tone despite trading below the long-term 100-day and 200-day exponential moving averages at $2,347 and $2,546, respectively.
Momentum is mixed, with the relative strength index hovering around the neutral zone of 49 on the daily chart, while the MACD chart remains in the negative territory, suggesting that upward attempts may face headwinds as long as the price stays below these higher averages.
Daily chart of ETH/USDT pair
On the bullish side, initial resistance is at the 100-day exponential moving average around $2,347, and if this level is sustainably broken, the 200-day exponential moving average at $2,546 will become the next upside target. On the downside, the 50-day exponential moving average at $2,265 provides immediate support, while a daily close below this level would bring the SuperTrend line near $2,145 into focus as a deeper support zone.
On the other hand, XRP is trading at $1.38 as of writing this report on Friday. The digital currency designed for financial transfers remains stable above the SuperTrend support level near $1.32, but it is still confined within a narrow range of moving averages, starting with the 50-day exponential moving average hovering around $1.41. The two exponential moving averages at 100 and 200 days are significantly above the market price, reinforcing a bearish outlook in the short term.
Meanwhile, the relative strength index is oscillating just below the midpoint on the daily chart, while the MACD indicator remains marginally in the negative zone, indicating weak momentum and supporting the idea that the market is consolidating within a broader bearish context.
Daily chart of XRP/USDT pair
On the bullish side, initial resistance appears at the 50-day exponential moving average at $1.41, with further upward movement limited by the downtrend break level around $1.45. A daily close above this area is required to ease current bearish pressure and open the way toward the 100-day exponential moving average near $1.50, and subsequently toward the 200-day exponential moving average around $1.72.
On the downside, immediate support aligns with the SuperTrend level at $1.32, and a break below this level would expose the pair to larger losses, keeping sellers in control of the short-term structure.
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