- A technical look at alternative coins: Ethereum and XRP are exposed to further correction:

Ethereum is trading at $2,322, maintaining relative stability as it stays above the 50-day exponential moving average at $2,182, but it remains below the 100-day exponential moving average at $2,356 and the 200-day exponential moving average at $2,660. This situation suggests that while the overall trend is still under pressure from the upper averages, the short-term structure is supported by the recovered 50-day exponential moving average.

Momentum readings point to positive results, with the Relative Strength Index hovering around 60 on the daily chart, and the MACD indicator staying above zero with a positive histogram, indicating that buyers are still holding the initiative but still need to break through the key resistance levels to maintain the early-week momentum for more upside.

Daily chart of the ETH/USDT pair

On the bullish side, immediate resistance is first at the 100-day exponential moving average at $2,356, followed directly by the 38.2% Fibonacci retracement ratio, drawn from the high on January 14 to the low on February 6, at $2,374, forming a nearby supply zone that buyers must surpass to continue the rise. After that, additional obstacles appear at the 50% Fibonacci retracement ratio at $2,570 and the 200-day exponential moving average at $2,660. On the bearish side, initial support is noted at the 50-day exponential moving average near $2,182, with additional support from the 23.6% Fibonacci retracement ratio at $2,131. A continued breakdown below this area would weaken the short-term positive trend and expose a more decisive correction.

Meanwhile, XRP’s price is currently trading at about $1.35, maintaining price stability as it remains below the 50-, 100-, and 200-day exponential moving averages at $1.40, $1.55, and $1.81, respectively. The MACD indicator shows a slight rise on the daily chart, and the indicator stays above zero, suggesting moderate upward momentum. However, the Relative Strength Index (RSI) around 49 confirms a lack of clarity in the trend, as price movement remains limited under this accumulated supply.

Daily chart of the XRP/USDT pair

On the bullish side, the initial resistance for XRP is at the 50-day exponential moving average near $1.40, with additional barriers at the 100-day exponential moving average around $1.55, and the reference descending trendline near $1.72, before the farther 200-day exponential moving average at $1.81. On the bearish side, a break of the ascending trendline level around $1.29 forms the first notable support level, and a daily close below this level would likely expose XRP to deeper pullbacks despite the current positive market momentum, albeit a fragile one.
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