Technical Overview of Altcoins: Ethereum and XRP Still Under Strong Bearish Pressure

Ethereum is trading at $1,738, maintaining price stability as it remains below the 50-, 100-, and 200-day exponential moving averages. Despite improved momentum with the MACD in positive territory on the daily chart, the RSI has dropped near the midline, indicating increasing selling pressure.

Daily Chart of ETH/USDT

Immediate resistance lies at the 50-day EMA around $1,803, followed by the 100-day EMA near $1,964, and then the 200-day EMA around $2,251 — a level that needs to be reclaimed to ease the overall bearish pressure. On the downside, initial support is at the current price level, with strong demand indicated by the Parabolic SAR level near $1,616. A daily close below this latter level would likely reopen a deeper corrective phase.

On the other hand, XRP shows a short-term bearish trend, with its price still below the 50-, 100-, and 200-day EMAs. The MACD confirms a positive outlook on the daily chart. However, the RSI near 42 suggests that sellers are tightening their grip on the market.

Daily Chart of XRP/USDT

Initial resistance is observed at the descending trend line at $1.16, followed by the 50-day EMA at $1.18, the 100-day EMA at $1.28, and finally the 200-day EMA near $1.49, reinforcing broader constraints on any recovery attempts. In contrast, the first support level lies at the Parabolic SAR level of $1.02. A daily close below this level would open the door for a deeper decline, while staying above it would keep XRP in a bearish but stable range below the converging EMAs.
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