- Technical Overview of Altcoins: Ethereum and XRP Maintain Key Support Levels

Ethereum remains under pressure despite rising above $2000 after dropping to $1753 on Friday. The Relative Strength Index (RSI) at 30 on the daily chart indicates that sellers still dominate the market, while the MACD remains below the signal line, suggesting investors should reduce their risk exposure.

A daily close above the $2000 level could support Ethereum’s price stability, encouraging investors to take risks ahead of the next recovery wave targeting the supply zone at $2400. Conversely, Ethereum still faces challenges and may see a price decline due to weak derivatives markets as previously mentioned. Therefore, traders should not overlook the support level at $1753.

Daily chart of ETH/USDT pair

As for XRP, its recovery faced a hurdle, drawing attention to the weakness in the retail market and a technical structure that may not be strong enough to support an upward trend. The remittance coin is supported at $1.40 but remains well below the 50-day exponential moving average at $1.83, the 200-day EMA at $2.01, and the 200-day EMA at $2.19. All three moving averages are declining, supporting long-term bearish outlooks.

Daily chart of XRP/USDT pair

The MACD is below the signal line on the daily chart, making XRP selling an attractive option, while the RSI at 34 indicates an oversold area, suggesting that the overall momentum is bearish. Key levels at $1.25, tested as support in October, and $1.12, tested on Friday, are poised to absorb selling pressure.