Market strategist Gareth Soloway suggests that crypto markets, after weeks of pressure, may be setting up for a short-term bounce. Charts for Bitcoin (BTC), Ethereum (ETH), and XRP are showing patterns that traders watch for potential upside moves, though this is framed as a trading opportunity with defined risk, not a call for new all-time highs.
Bitcoin's price prediction hinges on holding above the $60,000 support level. Currently trading around the mid-$60,000 range, BTC has formed a bullish consolidation pattern. Soloway believes that if the pattern holds and triggers a short squeeze, Bitcoin could see a move toward $80,000 to $85,000, representing a 19% to 25% upside from levels near $67,000. The risk-reward setup is highlighted, with a potential 10% downside risk if stopped near $60,000 versus a target offering a 2-to-1 reward ratio.
Ethereum's outlook shows a similar structure, described as a bull flag after a green reversal candle. If ETH breaks upward from its tight consolidation range, Soloway sees a likely target near $2,600, potentially extending to $2,800 in a stronger move. Like Bitcoin, the pattern's validity depends on support levels holding.
XRP's analysis is more complex, with the asset facing strong resistance at the $2.00 level. The chart is described as weaker than BTC and ETH, with $2 acting as a critical "line in the sand." A break and hold above this level could build momentum, but until then, the price remains under pressure.
Concurrently, sentiment data from Santiment reveals a divergence in crowd psychology. Bitcoin and Ethereum have both slipped into bearish social territory, with their Positive/Negative Sentiment Ratios declining as prices struggle around $66,000 and $1,900-$2,000, respectively. This reflects trader caution and defensive positioning.
In contrast, XRP's sentiment ratio has climbed to a five-week high, driven by renewed optimism from recent partnership announcements. This surge marks a clear divergence from the larger assets, suggesting localized, narrative-driven momentum rather than broad market strength. Historically, such extreme pessimism in BTC and ETH has sometimes preceded stabilization phases.
