Market strategist Gareth Soloway forecasts a potential short-term rally for major cryptocurrencies, including Bitcoin, Ethereum, and XRP, despite recent market volatility. Soloway highlights a bull flag pattern in Bitcoin's chart, suggesting a possible breakout that could push prices to $80,000–$85,000. However, he cautions that the broader market structure remains bearish, with potential for a decline to the low $50,000 range if macroeconomic conditions worsen.
Ethereum is also nearing a breakout level, with Soloway noting repeated tests of a major trendline resistance. A successful breakout could see Ethereum rise to $2,600–$2,700. Similarly, XRP is forming a bull flag structure, indicating potential for an upward move if it breaks current resistance levels. Despite these bullish signals, Soloway warns that sustained buying momentum is necessary to overcome strong resistance and maintain upward trajectories.
Analyst Predicts Short-Term Rally for Bitcoin, Ethereum, and XRP
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