US President Donald Trump will implement mutual customs tariffs from April 2. This triggers the fears of economic slowdown and fueled the escape from a wider risk in global markets. Therefore, the tension in the crypto market increases. According to experienced technical analyst Yashu Gala, the technical appearance for Bitcoin (BTC), Ethereum (ETH) and XRP shows that it is potential for deeper decreases.
BTC Price Estimation: There are 73 thousand dollars on cards for Bitcoin?
Bitcoin (BTC) price, after the last correction of the highest levels of the year ‘bear flag’ formation shifted. BTC is currently traded around $ 81,830. Thus, he confirmed that there was a break under the upward channel for several weeks. This setup followed a sharp decline in the early March and resembles a classic continuation structure.
Technically, when the height of the first decline is reflected from the breaking point, it gives a downward target of around $ 73,000. Momentum indicators give early warnings. Daily RSI is around 40.89 and indicates that the rise power is reduced.
BTC/USD daily price graph. Source: TradingViewETH Price Estimation: He broke triangular support, there is $ 1,690!
Ethereum (ETH) has also fell below a significant support structure, a rising triangle formed during March. The triangle, which is typically a bull formation, could not provide a upward breakage and was dissolved under the rising trend line. When this article is written, ETH is traded for $ 1,799 with a decrease of approximately 0.4 %per day.
Breaking opens the door of a movement towards $ 1,690 derived from the height of the formation. RSI fell to 33.79 and approached the over -selling zone, but still does not show signs of ascension deviation. During the month of March, the failure to support the rise trend increases the pressure of decreasing, decreasing pressure. The failure of the $ 2,000 level of re -testing may confirm that ETH tends to decline in the coming weeks.
ETH is a three -day price graph. Source: TradingViewXRP Price Estimation: facing the risk of big fall
Ripple’s local tokene XRP continues to be treated close to the lower limit of the descending triangle, which is a formation that usually pointing to the decline. Therefore, it is facing increasing downward risk. The XRP is currently around $ 2.07 and has decreased by over 6 %in the last 24 hours. This formation has developed in the last few months with low peak points and consistent support close to $ 2.00.
Under this support, a stable break will confirm the triangular structure and will trigger a potential decrease towards $ 1,22 representing a decrease of approximately 40 %. The RSI value continues to remain 43.82 weak, and the wider volume structure indicates that the receiving belief is reduced. Unless the bulls defend the $ 2,00 base, XRP may see a significant decrease.
XRP three -day price graph. Source: TradingView
