#Cryptomarketrebound

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- Altcoin Update: Ethereum and XRP show subtle signs of recovery:

The price of Ethereum has recovered to exceed $4,100 after the sharp correction it experienced last week, reaching $3,811. This increase is mainly due to the rising interest from individual investors, with the funding rate increasing, as noted above.

After the semi-overbought selling condition on Thursday, the relative strength index is currently stabilizing at 43 on the daily chart, indicating an increase in buying pressure. Higher indicator readings suggest an improvement in bullish momentum.

However, the bearish MACD indicator suggests that bulls are struggling to maintain Ethereum's price at elevated levels. Investors may continue to reduce their exposure if the blue line remains below the red signal line.

The main areas of interest for traders are the 50-day exponential moving average at $4,209, which is a resistance level that must be broken to validate the medium-term upward trend towards the all-time high of $4,956, and the 100-day exponential moving average, which provides support at $3,864.

The daily chart for the ETH/USDT pair

As for the Ripple currency (XRP), bullish speculators cautiously hold onto support at $2.83, which is provided by the 100-day exponential moving average, after facing rejection at the 50-day exponential moving average at $2.92. Investors are expecting another attempt to break through the short-term support, but the upward trend of the (RSI), which is stalled at 46 on the daily chart, may challenge bullish expectations, making Ripple vulnerable to further losses.

The daily chart for the XRP/USDT pair

One of the main areas of interest for traders is the support level at $2.70, which was previously tested on Monday, and the 200-day exponential moving average at $2.61. On the other hand, a successful breakout above the 50-day exponential moving average at $2.92 would support a trend reversal. However, risks may remain skewed to the downside until the price of XRP breaks the overall bearish trend characterized by a downward trend line since late July.