Market expert Gareth Soloway with 276k subscirbers has been in this game long enough to spot trouble. He does not think crypto is out of the woods yet, even after Bitcoin and some altcoins bounced off their lows.
In his video, he pointed to Bitcoin’s failed breakout as the reason he is staying on the sidelines. He said Bitcoin formed a double-bottom, moved up, then dropped back below a key level before recovering again.
The BTC price has already completed two major downside waves during this correction cycle. Soloway argues that markets often move in three distinct waves during both bull and bear phases. That is why he thinks Bitcoin might see one more drop before finding a real bottom.
He also looked at Bitcoin’s logarithmic chart and noticed a support line that held for years has finally broken. Soloway is not calling for a crash, but he said the technical damage makes it more likely Bitcoin stays in a longer correction.
What you'll learn 👉
Why Solana Stands Out From the Crowd
Soloway doesn’t like the overall market much, but he made an exception for Solana. He thinks its chart is one of the strongest in crypto.
SOL has hit the same long-term support line over and over since 2024. Each time, it bounced. Soloway figures this latest test could do the same.
What stands out is how well it has held up. Unlike many altcoins that are still way below their highs, the Solana price has come back faster and is already testing nearby resistance.
Looking at his chart work, Soloway puts the first resistance zone around $83. If buying keeps up, it could push toward the $97 to $100 area.
That positive view stands in contrast to his bigger warning, that crypto markets may still need one final drop before a larger recovery can start.
XRP Could Be Setting Up for an Explosive Move
The XRP price earned a more neutral assessment. Soloway focused on XRP’s long-standing descending trendline, which has capped multiple rally attempts over an extended period.
The analyst compared the setup to a compressed spring. The more times price tests resistance without breaking through, the more powerful the eventual breakout can become.
XRP has already challenged this trendline several times. If buyers finally push through it, Soloway expects a much stronger reaction than a typical breakout. Also, he warned that support near $1 remains critical if the breakout fails to materialize.
Related XRP News: The Next XRP Price Move Could Confirm the Drop to $0.87
Altcoins May Be Closer to a Relief Rally
Ethereum and several other major altcoins are showing signs of stabilization, even if their charts remain mixed.
Soloway noted that Ethereum has defended an important support zone better than Bitcoin. He also pointed to extremely bearish sentiment across the altcoin market as a potential catalyst for a countertrend rally.
Historically, periods of excessive pessimism often create conditions for sharp rebounds. Soloway believes many altcoins could deliver gains of 40% or more during a relief rally, even if the broader crypto correction is not fully complete.
For now, his outlook remains balanced. The analyst sees room for short-term upside in assets such as Solana and selected altcoins, but he continues to expect one final leg down for Bitcoin before the market reaches what he considers a true long-term bottom.
Frequently Asked Questions
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
