- Technical Overview of Altcoins: Ethereum and XRP Decline as Selling Pressure Intensifies

Ethereum is trading at $2,258, maintaining a short-term bearish trend, as the price remains below a dense zone of exponential moving averages. The 50-day exponential moving average at $2,274, the 100-day at $2,337, and the 200-day near $2,547 form multiple resistance levels, supported by the Parabolic SAR indicator around $2,406.

Momentum conditions support this limited structure, with the Relative Strength Index hovering near 46 on the daily chart and the MACD indicator extending into the negative territory, indicating that selling pressure still dominates despite decreased volatility.

Daily chart of ETH/USDT pair
On the bullish side, the initial resistance level is currently set at the 50-day exponential moving average at $2,274, with expectations of further selling around the 100-day EMA at $2,337. The Parabolic SAR level near $2,406 acts as a strategic barrier ahead of the 200-day EMA at $2,547, which must be surpassed to ease the overall downtrend. In the absence of clear support levels on the daily chart, traders may look to previous swing lows and psychological support levels at $2,200 and $2,000 for potential demand.

On the other hand, XRP is trading above $1.46, reinforcing the positive bullish trend as the price remains well above the 50-day EMA at $1.42, which is close to the middle line of the Bollinger Bands.

Momentum indicators confirm the positive trend, with the RSI near 58 in the bullish zone on the daily chart, while the MACD remains in the positive range. These forecasts suggest that dips may attract buyers as long as the short-term trend remains supported above the nearby moving averages.

Daily chart of XRP/USDT pair
On the bullish side, the immediate resistance level is at the upper Bollinger Band at $1.49, which also coincides with the 100-day EMA, while the 200-day EMA at $1.71 represents a strategic upside target if buyers take control of the market. On the downside, the 50-day EMA at $1.42 provides initial support, supported by the middle Bollinger Band. The lower Bollinger Band at $1.35 marks a deeper demand zone in case of a broader correction.
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