■  Bitcoin price could dip below $60,Solana price chart000 before BTC halving date amid elevated market risk.

■  Ethereum price brews bullish reversal toward $4,000 contingent on how BTC bulls play their hand.

■  Ripple price could revisit weekend lows below $0.4500 amid mounting overhead pressure.  

Bitcoin (BTC) price has the broader cryptocurrency market on standby, awaiting a definitive directional bias. Like in the case for most altcoins, Ethereum (ETH) and Ripple (XRP) are in the red on the back of chaos in the Middle East between Iran and Israel.

Geopolitical tensions between the two countries have markets in risk-off mode. For instance, Bitcoin price dipped to $62,000 on Saturday when reports confirmed that Iran had launched dozens of drones at Israel. However, following reports by Iran’s United Nations (UN) Mission that the country’s retaliatory attack on Israel was “deemed complete,” Bitcoin price bounced above $65,000 on Sunday.

As indicated in a previous report, the crypto markets are dumping because of a general atmosphere of fear and risk aversion in financial markets. Investors are looking to liquidate their positions to reduce risk and move toward more traditional safe-haven assets like Gold and Silver.

Nevertheless, the market has the BTC halving in sight, out barely five days with just about 642 blocks remaining.

Bitcoin price could revisit $60,000

Bitcoin price downside momentum could have more play before the halving. The pioneer crypto remains below crucial support provided by the ascending trendline after a slip below three days ago. Stuck in the lower section of the market range between $61,970 and $73,122, where selling pressure climaxed and buying pressure peaked, respectively, the odds favor the bears.

For starters, the Relative Strength Index (RSI) is below the ‘50’ mean level with an overall southbound inclination. This, coupled with the position of both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) in negative territory reinforced the bearish outlook.

While a retest of the $61,970 base is likely, the dire case could see Bitcoin price go as low as the $60,000 psychological level before a pullback.

BTC/USDT 1-day chart

On the other hand, a show of strength by BTC bulls could see Bitcoin price reclaim above the bullish trendline, confirmed by a flip of the 50% Fibonacci placeholder into support above $67,546. This could draw more bulls to the scene, sending BTC price above the $69,000 threshold. In a highly bullish case, BTC could reclaim the $73,777 all-time high before an attempt at further upside.

Ethereum price works out a bullish reversal, but BTC won’t let it happen

Ethereum price is consolidating within a falling wedge, which is a bullish reversal pattern. Contingent on whether BTC shows strength or crashes further, ETH price could respond in kind. A show of strength could send Ethereum price higher. A breach of the upper boundary of the governing chart pattern above the $3,750 level would signal the opening of a long position.

ETH/USDT 1-day chart

Conversely, with the broader market still in the red, Ethereum price could continue the fall below the 100-day Simple Moving Average (SMA) at $3,023. A candlestick close below $2,750 would invalidate the bullish thesis.

Ripple price next move hinges on RSI bounce

Ripple price could have more downside momentum to come amid growing overhead pressure due to the 50, 100 and 200-day Simple Moving Averages (SMAs) at $0.6094, $0.5754, and $0.5837, respectively.

With the RSI well below 50 and the MACD and AO in negative territory, XRP price could slide to $0.4500. Even worse, it could establish a lower low below the April 13 bottom, tagging the $0.4000 psychological level.

XRP/USDT 1-day chart

On the flip side, traders buying the correction could bode well for Ripple price. While a move above the $0.6000 psychological level would be ideal, the bearish thesis would only be invalidated upon a candlestick close above $0.6685. Traders should watch for the RSI bouncing above the 30 threshold for possible entry.