BTC, ETH, and XRP are all approaching key technical levels that could determine whether the latest correction deepens considerably or if the bulls will finally step up and prevent further losses.
Martinez told his nearly 170,000 followers on X that downside risks for BTC are around $60,000; ETH could dump to $1,960; and XRP might revisit the $0.99 lows from August.
BTC to $60K, ETH Below $2K
In his latest post on X, the popular analyst argued that BTC is still trading inside a broad channel on the three-day chart, with $73,000 representing the crucial mid-range support. If the leading cryptocurrency loses that area decisively, he sees the channel’s lower boundary near $60,000 as the next major zone to watch.
That would represent a substantial additional decline given the already painful pullback from $87,000 to the current $76,000. Moreover, it aligns with other bearish forecasts made by other analysts. As we reported recently, Bren warned that bitcoin could tumble to $56,000, which would mark a fresh multi-year low, before eventually recovering and potentially reaching a new all-time high next year.
Ethereum’s setup looks weaker, according to Martinez. The largest altcoin appears to have broken below a right-angled ascending broadening pattern on the daily chart, with $2,385 no longer holding as support. The measured move from that structure points toward approximately $1,963 if selling pressure intensifies.
This level is also consistent with previous warnings from Martinez that a clean breakdown beneath the $2,350-$2,400 region could put sub-$2,000 ETH back into play.
What About XRP?
XRP’s current landscape is similarly uncomfortable as ETH’s, Martinez said, explaining that the token has broken beneath the mid-range support of the channel it has been trading in, which shifted his attention toward the lower boundary near $0.99. Recall that the asset dipped to that level in August, shortly before it exploded by 70% in 72 hours to $1.70. However, the sentiment around it has quickly deteriorated in recent weeks.
Santiment Intelligence highlighted a trader who previously called for XRP to fall toward $0.99 unless the asset managed to close above $1.36, which it didn’t. The asset has since fallen by roughly 10%, although the analytics platform stressed that the broader market also declined, making it difficult to separate skill from favorable timing.
However, the analysts warned that among some of the most profitable XRP wallets they track, only one is currently long, and that wallet has not traded since August. Meanwhile, three active short positions have collectively added roughly 2.1 million XRP since late October.
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