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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.
