The cryptocurrency market is set to wrap up March with a bearish trend, marking the second consecutive month of negative performance. In March, the crypto ecosystem saw a decline of 4.301%, decreasing from $2.79 Trillion to $2.67 Trillion. During this period, Bitcoin also mirrored this downturn, experiencing a 4.36% drop in price.
Conversely, Ethereum, the leading altcoin, faced a significant downturn, losing 21.26% of its value throughout March. Hopes surged during the third week with the dismissal of the Ripple vs SEC case, but XRP struggled, closing the month with negative momentum.
This leads us to the pivotal question: what lies ahead for Bitcoin, Ethereum, and XRP in the upcoming week? Let’s delve into the potential short-term price forecasts for these cryptocurrencies to address these inquiries!
Will Bitcoin Price Crash Below $80k in April?
Today, Bitcoin’s price has fallen by 2.34%, pushing it below the crucial support trendline of $83,000. Furthermore, it has not met market expectations, failing to break out of the triangle pattern on the daily chart, fueling speculation of a potential new multi-month low.
The Relative Strength Index (RSI) indicates a bearish convergence on the daily chart, reflecting increasing selling pressure relative to buying pressure for BTC.
Additionally, the Simple Moving Average (SMA) signals a similar trend with a negative crossover in the Bitcoin price chart, suggesting a bearish outlook for the leading cryptocurrency by market capitalization in the week ahead.
Should the negative trend persist, Bitcoin may retest its $80k support level. Increased liquidation could push the price down to its critical low of $78,535 before any possible rebound. Conversely, a bullish reversal could see Bitcoin test its significant resistance zone at $88,000.
Is ETH Price Heading Towards Its $1,500 Crucial Support?
Ethereum has broken below its significant support level of $2,000 and is now trending toward its low of $1,800 this weekend. Over the past 24 hours, Ethereum’s price has declined by 1.32%, with a 6.87% drop over the last week, reducing its dominance to 8.3373%.
Both the RSI and SMA technical indicators reflect a growing negative trend on the daily chart, signaling potential sustained bearish behavior for the largest altcoin in the near future.
If a bullish reversal occurs, Ethereum could bounce back to its immediate resistance level of $2,000. On the downside, intensified bearish momentum might lead it to test its multi-year low of $1,500.
Is XRP Price Positioned to Retest the $2 Mark?
Despite the resolution of the XRP vs SEC lawsuit, the Ripple token has struggled to gain traction. The altcoin has failed to maintain support at the $2.50 level, with a reported 2.77% correction in the last 24 hours, despite trading volumes exceeding $4 billion.
As the market adopts a bearish stance, technical indicators depict a substantial decline in the XRP price chart. With bearish sentiment strengthening, it is likely that XRP will continue to be influenced by negative trends as April begins.
Given the current market landscape, the likelihood of XRP retesting its critical support level at $2 appears to be relatively high. Nonetheless, a possible bullish reversal could propel the second-largest altcoin back towards its immediate resistance at $2.48.
Conclusion:
As tariff wars escalate among major nations, both the cryptocurrency market and the global market face challenges. However, Trump’s tariff implementation on April 2, 2025, could alter the narrative, though the outcomes remain uncertain.
Also Read: Crypto Price Today (March 29, 2025): Bitcoin Drops to $82k, ETH & Other Altcoins Struggle
