Technical Outlook on Altcoins: Ethereum and XRP Show Short-Term Strength

Ethereum is experiencing a slight increase, hovering above $2900, amid investor anticipation of breaking the $3000 barrier. This short-term positive outlook for the smart contract token is supported by the RSI( rising to 39 on the daily chart. Any further increase in the RSI toward the midline indicates diminishing bearish momentum, gradually paving the way for steady gains.

However, a bullish trend confirmation requires a break above the 50-day EMA at $3107. Despite the modest gains during the day, Ethereum still faces some difficulties, as the MACD on the same chart remains below the signal line. Extended bars below the zero line may prompt traders to reduce risk, increasing selling pressure. A move below Monday’s opening level at $2817 would heighten the risk of a continued downtrend toward the December 1 support level at $2716.

Daily ETH/USDT Chart
Similarly, XRP is approaching a short-term resistance level at $1.90, while its daily low provides support at $1.83. The RSI) indicates a positive outlook, rising above 40 on the daily chart, suggesting a slowdown in bearish momentum. A steady rise above the midline could boost XRP’s chances of recovery and surpassing the key $2.00 level.

Daily XRP/USDT Chart
Meanwhile, XRP remains below the 50-day EMA at $2.03, the 100-day EMA at $2.16, and the 200-day EMA at $2.29. In addition to the moving averages limiting upward movement, they are also trending downward, confirming the overall bearish outlook. The MACD on the same chart remains below the signal line, increasing the likelihood of strong bearish momentum. A price correction below its lowest point on Sunday at $1.81 could extend the selling wave toward the April support level at $1.61.