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- Technical Overview of Altcoins: Ethereum and XRP Buyers Strengthen Their Grip:
Ethereum's price is trending higher above the $2,250 level, with a slight bullish bias in the near term. The SuperTrend indicator has fallen below the price, which acts as a moving support level. The MACD indicator remains stable above the signal line on the daily chart, while the green histogram bars are expanding, encouraging traders to increase their positions. Moreover, the Relative Strength Index (RSI) at 62 on the same chart confirms improved bullish pressure without reaching the overbought zone.
The 50-day exponential moving average at $2,211 serves as an initial support level, enhancing the structural outlook for Ethereum. A daily close above this level would increase the likelihood of steady price appreciation toward the 100-day exponential moving average at $2,517. Traders should not overlook the pivotal $2,000 level, as a close below it could expose Ethereum to the risk of declining to its March 1st low of $1,907.
ETH/USDT Daily Chart
As for XRP, its price remains stable above $1.46 amid moderate positive expectations. The MACD indicator confirms this bullish trend, staying above the signal line on the daily chart with expanding histogram bars. Meanwhile, the Relative Strength Index (RSI) extends above the 56 level on the same chart, indicating potential for continued bullish momentum.
XRP/USDT Daily Chart
A clear daily close above the resistance level between $1.51 and $1.54 would open the path toward the 100-day exponential moving average at $1.71 and the 200-day exponential moving average at $1.96. In case of a decline, breaking the current support level at $1.46 would expose XRP to the risk of falling to $1.40 and then to $1.34, where previous price lows converge, which would put the short-term uptrend under pressure.
$ETH
$XRP
XRP's outlook improves as open interest in futures contracts steadily climbs to $2.66 billion.