- The price of Bitcoin has risen above the level of 91,000 Dollar as short-term technical indicators show a fading bearish momentum.

Altcoin Update: Ethereum and XRP are sending mixed signals.
The price of Ethereum settled above $3000 at the time of writing this report on Thursday, as optimists seek to regain control. The Relative Strength Index rose to 41 from the oversold area on the daily chart, indicating a waning bearish momentum, and that the optimists may be heading toward the 50-day exponential moving average at $3468.

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

However, the presence of two death cross patterns on the same daily chart indicates that the bearish outlook remains clear and may continue to put pressure on Ethereum. A death cross pattern forms when a short-term moving average crosses below a long-term moving average, as shown on the daily chart.

The daily chart for the ETH/USD pair

As for the Ripple currency (XRP), recovery still seems like a fantasy, as the price remains below a resistance level at $2.30. The Relative Strength Index is stable at 46, indicating weak momentum, and suggests the possibility of continued sideways trading in the short term.

The decline in the Relative Strength Index (RSI) towards the oversold territory indicates increasing bearish momentum. One of the key areas of interest for traders is the next supply zone at $2.07, which was tested on Friday, and the support level at $2.00.

The daily chart for the XRP/USDT pair

However, the MACD indicator shows a confirmed buy signal on Tuesday when the blue line crossed above the red signal line. The path of least resistance will remain upward towards the 50-day exponential moving average at $2.36 if the MACD bounces above the average line with the expansion of the green histogram bars.