- Technical Outlook on Altcoins: Risk Sentiment Worsens as Ethereum and XRP Decline

Ethereum's price has slightly decreased, testing the support level at $2900 as of this report on Tuesday, continuing its multi-month downtrend. The leading altcoin remains under pressure below the 50-day exponential moving average (EMA), which acts as immediate resistance at $3100, followed by the 100-day EMA at $3234, and the 200-day EMA at $3305.

The Relative Strength Index ((RSI)) is steady at 41 on the daily chart, heading toward the oversold territory, with increasing bearish momentum. The MACD indicator line on the same chart confirms the bearish outlook, remaining below the signal line.
Ethereum may continue its decline to test the lowest level on Sunday at $2787, influenced by expanding red bars below the zero line on the chart. Continued downside pressure could push Ethereum toward the support level at $2624, which was tested on November 21.

Daily ETH/USDT Chart
As for XRP, sellers are in control, limiting price movement below the psychological threshold of $2.00. The cross-border payment token is trading at $1.88 as of this Tuesday report amid bearish signals.

After the Relative Strength Index ((RSI)) rose to 43 on Monday, it fell back to 41 on the daily chart, confirming ongoing seller dominance. The MACD ((MACD)) line on the same chart is trending downward below the signal line amid continued losses toward the support level at $1.81, last tested on Sunday, and down to its April low of $1.61 if selling intensifies.

Daily XRP/USDT Chart
However, if the bearish outlook diminishes and XRP's price decisively breaks above $2.00, the less resistant path could turn bullish. Investors should also temper their expectations until the 50-day EMA turns into a support level at $2.02, with the rally extending to the 100-day EMA at $2.15 and the 200-day EMA at $2.38.