- Technical Analysis of Altcoins: Volatility in Ethereum and XRP Amid Increasing Selling Pressure:

Ethereum's price fluctuates between $2900 and $3000 amid the overall bearish trend in the cryptocurrency market. The RSI( is accelerating at the 38 level on the daily chart toward the oversold region, with sellers gaining more control.

The MACD indicator on the same chart remains below the signal line, which may prompt investors to reduce their exposure and protect their capital. Breaking below the $2900 level could accelerate the downward trend toward its December 1 low at $2716. 

Conversely, a close above the descending trendline could shift ETH's direction toward the 50-day exponential moving average at $3134, the 100-day EMA at $3262, and the 200-day EMA at $3321.

Daily chart of the ETH/USDT pair

As for XRP, the MACD indicator remains below the signal line on the daily chart, confirming that the digital currency is stuck in a bearish trend. The histogram bars, expanding below the zero line, may lead investors to reduce their investments. The area around $1.84 represents the next key support level, with further losses possibly extending to its April low at $1.61.

Daily chart of the XRP/USDT pair

Meanwhile, the support level at $1.90 remains critical for XRP's price recovery and regaining the psychological threshold of $2.00. After surpassing this range, the 50-day EMA limits the upside potential at $2.05, the 100-day EMA at $2.17, and the 200-day EMA at $2.30.)