Gareth Soloway, chief market strategist at VerifiedInvesting.com, says the crypto market has entered a meaningful short-term recovery phase, but warns that the bigger bear market trend has not yet ended and further downside remains likely later in the year.
Bitcoin: $73,000 to $74,000 in Sight, But Sub-$50,000 Still Possible
Bitcoin rallied from around $57,800 back to approximately $62,700 and Soloway believes the move has further room to run. His near-term target sits at the $73,000 to $74,000 range, where a key downsloping trend line provides resistance. As long as Bitcoin holds above $58,000 on a confirmed closing basis, he is maintaining a bullish short-term bias.
However, Soloway was clear that this is a swing trade setup, not a reversal of the broader trend. He still expects Bitcoin to eventually break below $50,000 as part of the bear market’s final phase, which he describes as a bottoming process that typically takes the form of a rounded base or cup and handle structure. The trigger for that final flush, in his view, would be a broad risk-off event where capital exits everything, including crypto, gold, and biotech simultaneously.
Ethereum: Parallel Trend Line Breakout Targeting $2,000
Ethereum has broken out of an important trend line structure. He sees initial resistance around $1,800 but expects ETH to push through toward $2,000, where he would reassess. The breakout is notable because the trend lines on Ethereum are running parallel to Bitcoin’s structure, which he says signals order within the broader market chaos.
XRP: Wedge Break Could Mean More Upside
XRP broke out of a multi-month wedge pattern that stretched back to early 2025. The longer a wedge forms, Soloway argues, the larger the breakout move tends to be. XRP has already moved from around $1.02 to $1.17. He expects a pullback toward $1.10 to $1.15 before the next leg higher, targeting the $1.25 resistance zone as an exit point for his current trade.
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