The crypto market started the week well as fears of Donald Trump’s ‘Liberation Day’ eased. Bitcoin rose for two straight days and hit a high of $87,400, its highest level since March 7. Ethereum retested $2,100, while XRP neared $2.5. This BTC, ETH, and XRP price prediction looks at what to expect ahead of Trump’s reciprocal tariffs on April 2.
Crypto Market Waits for Trump’s Liberation Day
Crypto prices rose on Monday as the market cheered reports that Trump’s Liberation Day will not be as severe as expected. Media reports by companies like Bloomberg and WSJ noted that the reciprocal tariffs will be more targeted. In the past, Trump had threatened that he would apply universal tariffs on all items.
Instead of general tariffs, Trump will exclude some sectors, such as semiconductors and automobiles. The new news on the Liberation Day explains why stock and cryptocurrency prices jumped on Monday. Futures tied to the Dow Jones jumped by 350, while those linked to the Nasdaq 100 and S&P 500 rose by over 1%. Crypto prices have some correlation with US stocks since they are characterized as risky assets.
The Liberation Day comes as economists are warning that the US economy may contract in the first quarter. In its decision last week, the Federal Reserve warned about a stagflation, which is characterized by slow GDP growth and high inflation.
BTC Price Technical Analysis
Bitcoin price has risen in the past few days, moving from a low of $76,485 on March 11 to $87,500 today. While this rebound is good, there are signs that a bullish breakout has not happened yet.
BTC price remains below the 50-day Exponential Moving Average (EMA). In trend-following analysis, a bullish breakout is usually confirmed when an asset moves above a key moving average.
Bitcoin has also formed a rising wedge pattern. Shown in green below, this pattern has two converging ascending trendlines. A bearish breakdown happens when the spread between these two lines narrow. Therefore, there is a risk that the BTC price will retreat and retest the support at $80,000.
BTC Price Chart
ETH Price Technical Analysis
Like other top crypto market assets, Ethereum price retested the key resistance point at 2,000. While this is also a positive sign, the coin also remains below the 50-day EMA. it is also yet to cross the important resistance level at $2,138, the neckline of the triple-top pattern at $2,130.
As such, there is a risk that the ongoing ETH pump is part of a break-and-retest pattern, a popular continuation sign. If it is, there is a possibility that the coin will resume the downtrend ahead of the Liberation Day on April 2. If this happens, the target will be the year-to-date low of $1,763.
ETH Price Chart
XRP Price Prediction
The daily chart reveals that the XRP price has also recovered swiftly after the SEC ended its Ripple case last week. This rebound is important as it has moved further above $1.9635, the neckline of the head and shoulders pattern.
XRP Price Chart
However, the risk is that the Ripple price has yet to invalidate this pattern, which will happen when it jumps above the shoulders section of $3. A surge above those points will signal to further gains, potentially to $5.
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