- Technical overview of altcoins: Both Ethereum and XRP face pressure as sellers tighten their grip.

Ethereum is trading at $2,334, following a neutral trend in the short term. The smart contract token appears to maintain its price above the 20-day simple moving average Bollinger, which is around $2,322, and above the 50-day exponential moving average, which is around $2,275, indicating a community demand for buying on dips.

However, upside momentum is still limited, as the price trades below the 100-day exponential moving average at $2,343, and far below the 200-day exponential moving average at $2,564. The MACD indicator hovers just below the zero line on the daily chart, and the Relative Strength Index is about 53, suggesting moderate bullish momentum.

Daily chart of the ETH/USDT pair

On the upside, immediate resistance is seen at the 100-day exponential moving average near $2,343, followed by the upper Bollinger band at around $2,389, then the 200-day exponential moving average at $2,564. On the downside, the 20-day middle Bollinger line at $2,322 provides initial support, with stronger support appearing at the 50-day exponential moving average at about $2,275 and the lower Bollinger band near $2,254. A sustained break below this price range is likely to bring about a deeper corrective phase.

On the other hand, XRP is trading at $1.44 in an attempt to build a bullish trend after reclaiming both the 50-day exponential moving average and the middle Bollinger band near $1.41, while pressing against the broken-down trend line around $1.44, which now acts as a key pivot point.

Momentum is positive, as the RSI is approaching 57 on the daily chart and the MACD chart remains mildly positive, indicating that upward pressure is increasing but has not yet reached the point of overextension.

Daily chart of the XRP/USDT pair

On the upside, the pivot trendline at $1.44 represents the immediate hurdle, with additional resistance at the upper Bollinger band near $1.46. A clear breakout above this zone would expose the 100-period exponential moving average around $1.50, before the further 200-period exponential moving average near $1.71. On the downside, initial support is observed at the recovered 50-period exponential moving average at $1.41, supported by the middle Bollinger band at the same level. Falling below this range risks a deeper pullback toward the lower Bollinger band around $1.36.
$ETH
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