Gareth Soloway, chief market strategist at Verified.com, laid out his latest price targets for Bitcoin, Ethereum and XRP this week.
He said that Bitcoin has formed a micro bullish breakout on shorter timeframes while the bigger macro pattern remains bearish. Soloway has maintained an $80,000 upside target since February, and the charts still support that possibility.
“The micro pattern is bullish with upside still potentially to $80,000,” he said. “The macro pattern still looks like it has further downside.”
Bitcoin needs to hold $64,000 to $67,000 as support for the short-term rally to remain valid. If the macro pattern eventually plays out, $50,000 is the first major support, with a worst-case scenario near $30,000 if broader markets sell off 20% to 30%.
Ethereum: $2,600 to $2,700 If $2,000 Holds
Ethereum is holding a critical trend line around $2,000 that has been tested multiple times. As long as that support holds, Soloway sees a path to $2,400 first, then potentially $2,600 to $2,700.
“Near-term micro pattern is bullish. We’re holding the pattern,” he said, adding that the two converging trend lines intersect in early May, making the next few weeks decisive for ETH’s direction.
A break below $2,000 on the other hand would trigger the broader bearish pattern and open the door to significantly lower prices.
XRP: $1.50 to $1.55 Near Term
XRP is the standout among the three in Soloway’s view. He described the current setup as a bullish reversal inside a bar bull flag with a clean parallel channel structure.
From the current price around $1.37, he sees near-term upside to $1.50 to $1.55. A breakout above that resistance zone opens the path to $1.73 to $1.83.
The downside level to watch is $1.12. A daily close below that would send XRP below one dollar. For now the micro bias remains bullish to neutral.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Credit: Source link