Trade
Basic
Futures
Futures
Hundreds of contracts settled in USDT or BTC
Options
HOT
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Participate in events to win generous rewards
Demo Trading
Use virtual funds to experience risk-free trading
Earn
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
NEW
Trade on-chain assets and enjoy airdrop rewards!
Futures Points
NEW
Earn futures points and claim airdrop rewards
Investment
Simple Earn
Earn interests with idle tokens
Auto-Invest
Auto-invest on a regular basis
Dual Investment
Buy low and sell high to take profits from price fluctuations
Soft Staking
Earn rewards with flexible staking
Crypto Loan
0 Fees
Pledge one crypto to borrow another
Lending Center
One-stop lending hub
VIP Wealth Hub
Customized wealth management empowers your assets growth
Private Wealth Management
Customized asset management to grow your digital assets
Quant Fund
Top asset management team helps you profit without hassle
Staking
Stake cryptos to earn in PoS products
Smart Leverage
NEW
No forced liquidation before maturity, worry-free leveraged gains
GUSD Minting
Use USDT/USDC to mint GUSD for treasury-level yields
More
Trending Topics
View More26.57K Popularity
34.61K Popularity
19.53K Popularity
4.28K Popularity
2.06K Popularity
Pin
Technical View on Altcoins: Ethereum and XRP Decline as Downward Pressure Intensifies
Ethereum's price stabilizes between the 100-day Exponential Moving Average support at $3290 and the 200-day EMA resistance at $3339. Sellers largely dominate the market, as evidenced by the RSI dropping to 62 and remaining at this level.
A close below the 100-day EMA support could accelerate losses toward the 50-day EMA support at $3154. The downward trendline from the all-time high of $4956 is also poised to absorb the increase in supply.
However, the MACD indicator on the same chart continues to signal a buy since January 1. The histogram bars are expected to expand above the zero line to confirm the short-term bullish outlook for ETH. A breakout above the 200-day EMA resistance paves the way for an extended bullish trend toward $3447, tested on December 10, and $3658, tested on November 10.
Daily ETH/USDT Chart
As for XRP, its price is currently trading below the 50-day EMA, forming a resistance level at $2.08 at the time of writing on Friday. The RSI has fallen to 51 on the daily chart, indicating a slowdown in bullish momentum and contributing to the price decline.
The RSI's continuous decline below the midline suggests a shift in the overall outlook from positive to negative, which could lead to accelerated losses below the key $2.00 level. XRP may target its January low of $1.82 and its April low of $1.61.
Daily XRP/USDT Chart
The MACD remains slightly below the signal line, which may encourage risk aversion and accelerated decline.
Nevertheless, a decisive breakout above the 50-day EMA at $2.08 is still necessary to confirm a short-term bullish reversal for XRP. Traders expect further resistance at the 100-day EMA at $2.20, the downward trendline, and the 200-day EMA at $2.32.
Bitcoin experienced one of its strongest weeks in recent months, reaching a record high of $97,924 on Wednesday. However, this bullish trend, driven by optimism about the U.S. core inflation rate falling below expectations, paused temporarily, forcing Bitcoin to seek support at the $95,000 level.
Despite steady institutional demand through spot ETFs(, which reached a cumulative weekly inflow of $1.81 billion on Thursday, retail interest remains low.
Data from CoinGlass shows that the average open interest )OI( on the Bitcoin exchange was $63 billion on Friday, down from $64 billion on Thursday and $66 billion on Wednesday. This ongoing decline indicates a loss of confidence among investors in short-term positive Bitcoin outlooks, which could weaken the momentum needed to push prices higher.
Open interest in Bitcoin futures contracts | Source: CoinGlass
Ethereum also faces a continuous decline in futures demand on exchanges, as evidenced by the open interest )OI(, representing the notional value of outstanding futures contracts. The average open interest was $41.27 billion on Friday, down from $41.41 billion on Thursday.
Open interest in Ethereum futures contracts | Source: CoinGlass
Meanwhile, demand for XRP derivatives has steadily decreased, reaching $3.94 billion on Friday, down from $3.98 billion the previous day. The open interest peaked at $4.55 billion on January 8, coinciding with XRP's price rising to $2.42. Further declines in open interest could lead to lower prices.
Open interest in XRP futures contracts