Following a notable decline in cryptocurrency prices driven by sell-off news from Strategy (MicroStrategy), Bitcoin briefly fell below $62,000, dragging Ethereum and other altcoins down. As the Federal Reserve's FOMC minutes loom this week, market participants are seeking direction. Veteran technical analyst Gareth Soloway, with 24 years of experience, shared his outlook on Bitcoin, Ethereum, and XRP, while other influential crypto KOLs offered their forecasts for Solana and the broader market.
Bitcoin (BTC): Soloway points to a short-term target range of $73,000 to $74,000, where a descending trendline presents significant resistance. He maintains a cautiously bullish stance as long as Bitcoin holds above $58,000 on a closing basis. However, he stresses that this is only a short-term bounce and that the final phase of the bear market has not yet materialized, eventually expecting Bitcoin to break below $50,000.
Ethereum (ETH): The largest altcoin has broken above a key trendline, according to Soloway, with the first resistance around $1,800. He anticipates Ethereum will push through this level and climb toward $2,000, where it will face a crucial test.
XRP (XRP): Soloway observes a breakout from a multi-month wedge formation that has been building since early 2025. He notes that such long-term wedges often lead to significant moves. He expects a pullback toward $1.1 before XRP challenges the $1.25 resistance zone.
Solana (SOL) and broader market: Other market commentators also weighed in. Crypto analyst Chad Ventures highlighted that Bitcoin's technical outlook improved after reclaiming a crucial support-resistance zone that had capped upside for months. Ethereum, however, splits opinions—some remain bearish on its long-term prospects, while others still eye new all-time highs. Solana continues to attract bullish forecasts, with analysts targeting higher prices. XRP is also drawing attention for a potential breakout against Bitcoin.
Despite the short-term optimism, Soloway's warning that the bear market's final leg is still ahead tempers excitement. With the FOMC minutes on the horizon, traders will be closely watching macroeconomic signals that could influence the next move.
