Crypto market commentators remain divided on Bitcoin’s next major move. Some warn that another sharp correction is still ahead, while others believe the worst of the downturn has already passed.
At the same time, optimism is growing around Solana, XRP, Ethereum, and several memecoins as analysts look for the next market leaders.
Trader Aralez believes Bitcoin could first rally to fill a fair value gap (FVG) between $68,000 and $69,000 before entering what he describes as its final capitulation phase.
Under his roadmap, Bitcoin would spend about two weeks trading sideways. It would then break below $58,000, fall toward $48,000, and eventually retest the $40,000-$44,000 range.
Aralez argued that many retail investors already believe the bear market is over. However, he said several indicators still point to one more major decline before a lasting bottom is formed.
Source: X
Not all analysts agree.
Market analyst Ted Pillows pointed to Binance order book data showing heavy sell liquidity between $62,000 and $65,000. He also identified strong buy support around $55,000-$57,000.
According to Ted Pillows, if Bitcoin breaks above $65,000 with strong spot buying demand, it could quickly rally another 8% to 10%.
Long-term commentator Bitcoin Intelligence remains one of the market’s biggest bulls. The analyst continues to forecast a long-term Bitcoin price of $250,000.
Bitcoin Intelligence previously argued that waiting for another drop to $30,000-$40,000 may not be worthwhile if Bitcoin instead climbs toward $150,000-$160,000. In the analyst’s view, the risk-to-reward increasingly favors staying invested.
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Several analysts believe Solana may have already formed its macro bottom. Analyst Crypto_Scient said SOL has broken two major downtrend lines. These include the shorter-term trendline from $98 to $60 and the broader macro trendline from $150 to $60.
The analyst described the price action as a clean Accumulation-Manipulation-Distribution (AMD) setup and set a near-term target of $120.
Source: X
Crypto_Scient acknowledged that Bitcoin could still weaken in the coming months. Even so, the analyst believes Solana could remain resilient by consolidating at higher price levels. The analyst also plans to add to positions if SOL revisits the $72-$75 range.
Popular trader @theunipcs revealed new long positions in FARTCOIN, PIPPIN, and POPCAT. The trader noted that all three tokens have fallen between 95% and 98% from their all-time highs. Despite those losses, they continue to maintain strong exchange listings and healthy trading activity.
The trader expects Solana to outperform the broader crypto market. If that happens, leading Solana-based memecoins could recover a meaningful share of their losses.
Although the trader stopped short of calling a definitive Bitcoin bottom, @theunipcs said these tokens could still deliver 2x to 5x returns or even more, even if the broader market only stages a temporary recovery.
Crypto analyst Ali Martinez highlighted a new SuperTrend buy signal on XRP. It is the first bullish trigger since mid-June.
Martinez noted that the previous signal was followed by a 14% rally. The indicator also correctly identified the last two major declines of roughly 19% and 16%.
With XRP trading near $1.10, traders are watching to see whether the latest signal marks another trend reversal.
Ethereum also attracted attention after market commentator Tony Research shared a chart from Japanese trader Legend JAPAN. The trader previously gained recognition for calling major tops in assets including gold, ZEC, and the TRUMP token.
The chart projects Ethereum falling to around $1,260 before beginning a multi-year rally toward $10,000 by 2028.
It also outlines a gradual recovery after the projected decline, with Ethereum steadily reclaiming higher price levels before accelerating toward the five-figure target.
The forecast has fueled debate among traders over whether Ethereum still faces one more major correction before the next bull market begins.
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