Ethereum price declined almost 11% on Monday. It continued its downtrend the next day and retested its daily support level at $2,359. At the time of writing on Wednesday, it hovers around $2,486 level.
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If ETH continues its downtrend and closes below $2,359, it could extend the decline to retest its February 3 low of $2,125.
The RSI on the daily chart reads 36, facing rejection from its neutral level of 50 on Sunday and points downwards, indicating a bearish momentum.
On the other hand, if ETH recovers, it could extend the recovery to test its Monday high of $2,839.
Ripple price RSI reflects weakness in momentum
Ripple price declined nearly 12% on Monday and reached a daily low of $2.06 the next day. At the time of writing on Wednesday, it hovers around $2.29 level.
If the daily level of $2.72 holds as resistance, it will extend the decline to test its next support level at $1.96.
The RSI on the daily chart reads 36, rejecting its neutral level of 50 and points downwards, indicating bearish momentum.
Conversely, if XRP closes above $2.72 and finds support, it will extend the rally and retest its January 16 high of $3.40.
