XRP, ETC, YFI, and BCH: Breakdown Patterns Emerge Preceding Altseason

XRP, Ethereum Classic (ETC), Yearn Finance (YFI) and Bitcoin Cash (BCH) price action and on-chain signals point to a bearish phase ahead.

Key Insights

* XRP, Ethereum Classic (ETC), Yearn Finance (YFI) and Bitcoin Cash (BCH) price action and on-chain signals are setting up several crypto derivatives for a bearish phase ahead. Meanwhile, Bitcoin dominance is indicating a potential reversal, which suggests that altseason is coming.

* As smaller cryptocurrencies continue to struggle, the narrative has shifted to April’s macro data, which could decide if crypto assets will fall further or if a rebound is in the works.

* With Bitcoin dominance (BTC.D) now at 62.03%, breaking below the 39.65% level could be key for sparking a move into altcoins.

Cryptocurrencies are setting up for a turbulent April, with several assets now showing bearish setups as smaller cryptocurrencies continue to struggle.

However, Bitcoin dominance is showing signs of fatigue, which may open the door for altcoins to pour back into the limelight.

A textbook Head and Shoulders pattern is seen on the XRP /USDT chart. It has breached the neckline, seen at $2.08.

If this comes to pass, then the measured move down to the target is about $1.34, or 35% below the current price. Already, the price has fallen by 5.39%, showing that bearish pressure is picking up.

Next up is Ethereum Classic (ETC), which lost support at $16.88. Since early 2023, the asset has been trading in the $20.50 to $11.50 range. A breakdown below this zone could drag it to $6.50, the prior support range—a 61% drop.

Yearn Finance (YFI) dropped 1.98% recently and is now sitting just above multi-year support at $4,907. A breakdown could open up downside to $1,600, a 67% decline, and coincides with horizontal breakdown zones on the 3-day chart.

Bitcoin Cash (BCH) continues ranging in a symmetrical triangle. It is currently trading at $306.06, closely above 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 points to a broad-based weakness among older altcoins. Breakdown risk remains widespread, not something that is easily isolated.

Bitcoin Dominance Faces Resistance As Altcoins Are Due For Return

Bitcoin dominance (BTC.D) is now at 62.03%, closely below the 2021 altseason peak. The weekly Relative Strength Index (RSI) has formed a bearish divergence, showing price making higher highs while RSI prints lower highs.

This can indicate momentum loss. Currently, the RSI stands 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 are expecting a repeat if dominance drops again. The next key support is seen at 39.65%. A move down to that level would suggest a lot of capital is flowing out of Bitcoin and into altcoins.

There are similarities, but no confirmation yet of the current setup. However, BTC.D is at a peak and altcoins are at support, setting the stage for a potential rotation.

April Macro Data Could Decide If Crypto Prices Fall Further

April’s economic calendar is 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, however, is April 10’s inflation report. If inflation stays elevated, then the Federal Reserve may delay any planned rate cuts. That would pressure crypto. But if inflation cools and labor data holds steady, then traders could rotate into altcoins—especially if BTC dominance begins to roll over.