- Update on alternative currencies: Ethereum and XRP remain stable:

The price of Ethereum has settled above $3000 at the time of writing this report on Friday, as optimists seek to determine the future market direction. The Relative Strength Index has risen to 42 from the oversold area on the daily chart, indicating a waning downward momentum, and that optimists may be heading towards the 50-day exponential moving average at $3451.

At the same time, the MACD indicator issued a buy signal on Wednesday, encouraging investors to increase their risk exposure. It requires a steady upward trend above the zero line to strengthen the bullish momentum.

However, the presence of two deadly crossovers on the same daily chart indicates the continuation of negative expectations, which may continue to put pressure on the price of Ethereum. A death cross pattern forms when a short-term moving average crosses below a long-term moving average, as illustrated on the daily chart.

Despite support at $3000, Ethereum remains at risk of resuming its decline towards support at $2629, which was tested on November 21, unless the upward trend advances above the 50-day exponential moving average at $3451 and the 200-day exponential moving average at $3503.

The daily chart for the ETH/USDT pair

For the XRP currency (XRP), the price remains below the declining 50-day exponential moving average at $2.37, the 100-day exponential moving average at $2.51, and the 200-day exponential moving average at $2.52, which are trending downward, limiting its rebounds. The blue line of the MACD indicator on the daily chart has risen above the signal line, indicating a decrease in bearish momentum. At the same time, the relative strength index (RSI) remains neutral at 47, limiting XRP's rise while staying below the midpoint of 50.

The daily chart for the XRP/USDT pair

The descending trend line at $3.66 limits gains, with resistance at $2.66, and a breakout above this level will lead to a more effective recovery phase. While the price is trading below the SuperTrend ceiling at $2.40, rebounds will remain fragile, and it will face selling pressure as it approaches the EMA range. A breakout above these upper obstacles could change the price trajectory upward; otherwise, the prevailing bearish trend will remain unchanged.