Key Insights:
- XRP, ETC, YFI, BCH charts show major breakdown patterns
- BTC dominance near 62% with bearish RSI divergence forming
- April macro data may trigger volatility across crypto markets
XRP, Ethereum Classic (ETC), Yearn Finance (YFI) and Bitcoin Cash (BCH) price action and on-chain signals point to a bearish phase ahead. Meanwhile, Bitcoin dominance is indicating a potential reversal, which suggests that altseason is coming.
XRP, ETC, YFI, and BCH: Breakdown Patterns Emerge
A textbook Head and Shoulders pattern is seen on the XRP/USDT chart. It has breached the neckline around $2.08. If this comes to pass, the measured target is about $1.34, or 35% below the current level. Already, the price has fallen 5.39%, indicating that bearish pressure is accelerating.
Ethereum Classic (ETC) lost support near $16.88. Since early 2023, the asset traded between $20.50 and $11.50. A breakdown below this zone could drag it to $6.50, the prior support range—marking a 61% drop from the current price.
Yearn Finance (YFI) dropped 1.98% recently and hovered just above multi-year support at $4,907. A breakdown could open downside to $1,600, a 67% decline, matching horizontal breakdown zones on the 3-day chart.
Bitcoin Cash (BCH) continued ranging within a symmetrical triangle. It traded around $306.06, close to the triangle’s lower edge. A breakdown could target $89, based on the 1.0 Fibonacci extension—a move of over 70%.
The structure across these charts pointed to a broad-based weakness among older altcoins. Breakdown risk remained widespread, not isolated.
Bitcoin Dominance Faces Resistance, Altseason Could Be Near
Bitcoin dominance (BTC.D) hovered at 62.03%, just below its 2021 altseason peak. The weekly Relative Strength Index (RSI) formed a bearish divergence, showing price made higher highs while RSI printed lower highs.
This can indicate momentum loss. Currently, the RSI is at 58.40, having peaked at around 70. Moreover, Stochastic RSI has also started to turn from the overbought zone of 91.19 and 87.12. This bearish cross may continue to put pressure on BTC dominance.
A strong rotation into altcoins followed a similar setup in 2021. Traders expect a repeat if dominance drops again. Near 39.65% is the next key support. A move down to that level would suggest a lot of capital flow into altcoins.
There are similarities, but not confirmation of the current setup. However, BTC.D is peaking and altcoins are near support, so rotation is something many are preparing for.
April Macro Data Could Trigger Crypto Volatility
April’s economic calendar appeared packed. The U.S. plans to announce new tariffs on April 2, which could strengthen the dollar and weaken crypto assets.
On April 4, the U.S. labor report will show unemployment trends. A spike in jobless claims could spark risk-off moves and hurt altcoins.
The main event, though, is April 10’s inflation report. If inflation stays elevated, the Federal Reserve may delay rate cuts. That would pressure crypto. But if inflation cools and labor data holds steady, traders could rotate into altcoins—especially if BTC dominance starts to roll over.
BTC.D sat near resistance, altcoins tested multi-year supports, and several assets flashed bearish setups. This raised the possibility of a key turning point.
If BTC.D breaks below 62%, altseason could begin. If macro numbers disappoint, crypto could face deeper losses before recovery.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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