- Altcoins Update: Ethereum and XRP Stagnate Below Key Moving Averages:

Ethereum hovers above $3,200 at the time of writing on Friday, but it is also below the 50-day Exponential Moving Average (EMA) at $3,310, the 200-day EMA at $3,452, and the 200-day EMA at $3,502, supporting an overall bearish trend.

The MACD indicator on the daily chart is approaching bullish territory, supported by a buy signal since November 26. Green histogram bars expanding above the signal line indicate potential steady bullish momentum.

The Relative Strength Index (RSI) at level 54 in the bullish zone suggests short-term bullish outlook. However, maintaining momentum requires a move into overbought territory.

A daily close above the 50-day EMA at $3,310 would pave the way for a recovery, surpassing the 200-day EMA at $3,452 and the 100-day EMA at $3,502. Conversely, if the 50-day EMA prevents the rebound, the chances of a prolonged correction toward $3,000 increase.

Daily chart of ETH/USDT pair

On the other hand, XRP hovers above the short-term support level at $2.00 but remains below the 50-day EMA at $2.24, the 100-day EMA at $2.40, and the 200-day EMA at $2.46, which tend to decline and maintain an overall bearish trend.

The MACD indicator on the daily chart is below the zero line in the bearish zone, while the blue MACD line is slightly above the red signal line. The shrinking green histogram bars, barely positive, indicate neutral momentum. The RSI at level 42 trends downward, suggesting limited upward potential.

Daily chart of XRP/USDT pair

Nonetheless, a daily close above the resistance level at $2.24 (the 50-day EMA) could ease pressure and open the path toward the resistance zone at $2.40–2.46. Failure to reclaim the first barrier at $2.24 will keep sellers in control below the trendline.