- Technical Outlook on Altcoins: Ethereum and XRP Decline as Selling Fears Intensify:

Ethereum is currently trading below the support level that has turned into resistance at $1900, while maintaining its price above the daily low of $1847. The leading smart contract token is also trading below the 50-day exponential moving average at $2428, the 100-day EMA at $2767, and the 200-day EMA at $3027.

The Relative Strength Index (RSI) at 33 is approaching oversold territory, a scenario that could amplify the prevailing bearish trend. If Ethereum's price drops below the daily low, the downtrend could extend to its February 6 low of $1748.

However, the MACD indicator remains above its signal line, suggesting that buyers may somewhat turn the tide and push for a recovery beyond $1900, with a focus on higher levels above $2000.

Daily Chart of ETH/USDT

XRP has also been affected by headwinds in the overall cryptocurrency market, falling above $1.36. The upward potential of this digital asset used for financial transfers appears limited due to the SuperTrend indicator at $1.63, the 50-day EMA at $1.66, the 100-day EMA at $1.87, and the 200-day EMA at $2.09.

Meanwhile, the RSI at 36 on the daily chart indicates increasing bearish momentum, which is likely to accelerate XRP’s decline to its October 10 low of $1.25.

Daily Chart of XRP/USDT

Despite the ongoing downtrend, the MACD remains above its signal line, reinforcing optimism for a potential rebound if investors increase their investments. A breakout above the resistance level at $1.40 could open the door for an extended surge beyond the 50-day EMA at $1.66.