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A leading market analyst says the crypto market may be heading into a short-term rebound, but investors should still prepare for a potentially volatile period ahead. According to the latest technical outlook by Gareth Soloway, cryptocurrencies including Bitcoin, Ethereum, and XRP could see a temporary recovery rally before the market decides its longer-term direction.
Bitcoin May See a Short-Term Relief Rally
The analyst explained that Bitcoin recently formed a classic bearish structure after falling sharply from its previous highs, followed by a consolidation phase and another drop. However, recent price action is now showing signs of a bullish consolidation pattern, which typically appears when buyers begin accumulating during periods of fear.
Because of this setup, Bitcoin could attempt a near-term rebound toward the $80,000–$85,000 zone, where strong resistance is expected. If the market manages to break above that area, the next upside levels could extend toward the $90,000–$95,000 range, though such a move would require stronger market momentum.
The analyst said that Bitcoin continues to move closely with the technology stock sector, which is currently undergoing a deleveraging phase.
Ethereum Likely to Follow the Market Direction
Ethereum and most large-cap altcoins typically follow Bitcoin’s trend cycles. This means Ethereum could also participate in a short-term recovery rally if Bitcoin stabilizes, but its long-term performance will depend largely on whether the broader market establishes a clear bottom.
In the short term, however, Ethereum is also forming a bullish consolidation zone, suggesting the possibility of a relief rally. The analyst sees potential for a move back toward the $2,600 area, which represents the lower boundary of the previous consolidation region.
Historically, crypto markets have experienced large drawdowns during cycle transitions, often followed by extended consolidation before the next major rally begins.
XRP Faces a Key Resistance Test
For XRP, the technical picture remains more uncertain. The asset recently broke below an important support level and then attempted a bounce, only to face rejection near a critical resistance zone around $1.78. According to the analyst, XRP bulls must push the price back above this resistance area to regain upside momentum.
If XRP successfully moves above this level, it could attempt to break the current downward trend line and stabilize. However, failure to reclaim resistance may keep the asset trading under pressure along with the broader altcoin market.