According to analysts, although the bear market technically continues, Bitcoin and altcoins have seen a recovery in recent days.
As optimism in the market begins to rise, one analyst stated that the bullish trend for Bitcoin, Ethereum, and XRP could continue.
Gareth Soloway, who has 24 years of experience in technical analysis, shared his price expectations for BTC, ETH, and XRP in his latest YouTube video.
1) Bitcoin (BTC):
The analyst noted that Bitcoin has formed a classic bullish consolidation pattern, observing the inside candle that formed after a strong green reversal candle in Bitcoin.
According to the analyst, as long as Bitcoin does not make a daily close below the low of this candle, the bullish structure remains fully intact.
At this point, the analyst argued that he expects a strong breakout from $71,000 in Bitcoin soon, and if this happens, the target for BTC would be between $80,000 and $85,000.
2) Ethereum (ETH):
The analyst stated that Ethereum, like Bitcoin, is giving a bullish signal. According to the analyst, Ethereum is forming a bullish flag within a green reversal candle range and is not below the daily closing support level.
The analyst stated that the level to watch for ETH at this point is $2,150, adding that a break above this level would push the price into the $2,600 to $2,700 range.
3) XRP:
Soloway noted that XRP is also showing upward momentum, stating that his upside target for XRP is between $1.77 and $1.90, where a downward sloping trendline intersects with previous resistance.
*This is not investment advice.
