Ethereum price retested and found support around the weekly level of $3,454 on Tuesday. As of Wednesday, it trades slightly above $3,670.
If the $3,454 level holds, ETH could extend the rally to retest the psychologically important $4,000 level.
The RSI indicator on the daily chart reads at 66, above its neutral level of 50 and points upwards, indicating that bullish momentum is gaining traction well below overbought conditions.
ETH/USDT daily chart
On the other hand, if ETH declines and closes below the $3,454 level, it could face a pullback to retest the $3,335 support level.
Ripple bulls eye for $3.00 mark
Ripple price surged more than 18% on Monday and extended the gains on Tuesday, reaching a new six-year high of $2.90, then declined 7.8%. At the time of writing on Wednesday, it trades slightly higher, around $2.55.
If XRP continues the upward trend, it could extend the rally to retest its psychologically important level of $3.00.However, the RSI stands at 83, signaling overbought conditions and suggesting an increasing risk of a correction. The RSI’s move out of overbought territory could signify a pullback.
XRP/USDT daily chart
If XRP fails to maintain the upward momentum and faces a pullback, it could decline to retest its $1.96 support level.