#BountyDrop is Live on Gate Wallet

Altcoin Update: Both Ethereum and XRP show negative weaknesses.
The price of Ethereum is testing the support level at the lowest point of the consolidation range, around $2500. The 200-day exponential moving average reinforces the support level at $2473, while the 100-day exponential moving average is settled at $2351.

The downward trend of the Relative Strength Index, which is slightly below the midpoint line, reinforces the negative impact on the price of Ethereum. If traders reduce their exposure, indicating severe volatility, the price may drop further, pushing the Relative Strength Index toward the oversold region.

However, as the support range at $2500 remains intact, a recovery may occur, allowing the price of Ethereum to close the gap to the recent peak of $2881, which was reached on Wednesday.
On the other hand, the price of Ripple hovers around $2.13 at the time of writing this report, with losses of about 5% over the day. The path of least resistance may remain downward, supported by a sell signal from the Moving Average Convergence Divergence (MACD) on the daily chart. This signal, which was confirmed on Friday when the blue MACD line crossed below the red signal line, may make short positions on Ripple attractive, increasing selling pressure.

Support remains at $2.09, highlighted by the 200-day exponential moving average, which is critical for Ripple. If broken, the downtrend may extend below $2.00, potentially indicating April's lows at $1.61.