Crypto Correction Looms: BTC Targets Pre-Halving Dip, ETH Eyes $4K, XRP Seeks Support

The cryptocurrency market is expected to experience volatility over the weekend as Bitcoin (BTC) continues to lead the industry with its price movements. Analysts predict a possible final shakeout before the next leg of growth. While BTC may revisit $60,000 before returning to its peak, Ethereum (ETH) could reclaim $4,000 if BTC closes above $69,000. However, Ripple (XRP) may potentially drop to $0.5000 before attracting buyers.

Bitcoin Poised for Pre-Halving Correction, Ethereum Targets $4,000, While Ripple Eyes $0.5000

The cryptocurrency market is experiencing significant volatility as Bitcoin (BTC) continues to lead the charge, influencing the broader altcoin landscape. As the weekend approaches, trading volumes typically diminish, leading to increased market fluctuations.

Analysts predict a potential final shakeout before the next leg up, citing historical patterns and the recent correction spurred by meme coin mania. This dip may represent an opportune buying window for altcoins before the bull run resumes.

Bitcoin: Retesting Support and Possible Opportunity

With the highly anticipated Bitcoin halving just two weeks away, BTC price could present another buying opportunity by revisiting the supply zone between $58,375 and $65,518. Indicators suggest BTC is overbought, with the Relative Strength Index (RSI) declining and the Awesome Oscillator (AO) showing diminishing histogram bars.

A pullback is likely as BTC price consolidates around the $69,000 threshold on the weekly time frame. However, increased buying pressure above current levels could signal a continuation of the primary trend, with a candlestick close above $69,000 potentially leading to a surge towards $73,777 or even $75,000.

Ethereum: Eyes $4,000, Conditional on Bitcoin

Ethereum (ETH) price remains strong, sitting atop an ascending trendline and parallel channel. A successful bounce above this technical formation could drive ETH towards the $4,000 psychological level, contingent on Bitcoin reclaiming $69,000.

If ETH sellers regain control, the altcoin could fall back into the channel. A break below the upper boundary would delay the uptrend, while a break below $2,500 would invalidate it.

Ripple: Vulnerable to Further Decline

Ripple (XRP) price could continue its descent to $0.5000 if bears push it below $0.5783. A breakdown of this support level could trigger a sell-off, as indicated by the bearish stance of technical indicators.

However, if bulls step in, XRP could rise above $0.6685, potentially reaching the supply zone between $0.7311 and $0.7942. A close above $0.7655 would affirm the trend continuation, targeting $0.8000.

Conclusion

The cryptocurrency market remains in flux, with Bitcoin shaping market dynamics. A pre-halving correction is a possibility, potentially providing a buying opportunity for altcoins at discounted prices. Ethereum and Ripple face challenges, with Ethereum targeting $4,000 and Ripple aiming to reverse its downtrend. As the weekend approaches, volatility is expected to increase, adding uncertainty to market movements.