MarketIntel

Ripple’s XRP is expected to retrace further into the green Target Zone ranging from $1.03 to $0.38 as part of a blue downward impulse, which would complete the higher-level turquoise wave B. Afterward, wave C should drive price sharply higher, ultimately setting a new high for the larger wave (Y) above the resistance at $4.09. However, if bulls manage to push the altcoin above the $3.19 resistance and the $4.09 level in the near term—a scenario we estimate has a 30% probability—it would suggest that the turquoise alt.B wave has already been completed, and our Target Zone would no longer be reached.

SOL has already climbed more than 15% from last Friday’s low at its peak, potentially signaling the completion of wave ii in orange. For now, however, we’re still keeping open the possibility that this move could dip to a new low—within our green Target Zone ($155.80–$113.20). In any case, once this interim correction wraps up, wave iii in orange should kick off an impulsive rally, only losing steam above resistance at $295.31.

SOL has already climbed more than 15% from last Friday’s low at its peak, potentially signaling the completion of wave ii in orange. For now, however, we’re still keeping open the possibility that this move could dip to a new low—within our green Target Zone ($155.80–$113.20). In any case, once this interim correction wraps up, wave iii in orange should kick off an impulsive rally, only losing steam above resistance at $295.31.

Bitcoin currently appears to be forming an internal countermove within the ongoing orange wave a. Nevertheless, our primary outlook remains that this a-wave will ultimately extend into our green Target Zone, which ranges from $62,395 to $51,323. From this low, we expect another corrective move to the upside before the final downward leg of the wave (ii) correction—an overall pattern that has been developing since January—reaches completion.

LTC has recently continued its decline, leading us to believe that the high for green wave B is likely already in place. Price is now just a short distance from our green Target Zone, which ranges from $78.52 to $64.53. Within this zone, we expect to see the low of orange wave ii. Afterward, orange wave iii should drive price above the resistance levels at $118.71 and $147.06.

SOL recently dipped further into the now green Target Zone between $155.80 and $113.20. Within this area, we expect the low of wave ii in orange to be established imminently. Afterward, we anticipate a strong wave iii rally, which should peak above resistance at $295.31.

RENDER recently managed to push higher once again. Currently, within the larger turquoise wave Y—which is developing as a five-wave move in magenta—it is expected to continue its upward momentum in the near term. As a key initial step, price should break above resistance at $5.51.

Strategy has continued to develop downward pressure as anticipated since our last update, bringing it closer to the targeted low of the turquoise wave 2. Our alternative—and now grayed-out—Target Zone has been breached to the downside, allowing us to remove the alternative scenario of a premature breakout to the upside. Investors who speculated on this alternative and entered within the alternative Target Zone with a stop 1% below the lower edge have likely been stopped out by now. For now, we are still allowing some room for turquoise wave 2 to move lower; however, it should find its bottom above the support at $102.40 to set the stage for wave 3 to advance further above the resistance at $674.18.

Avalanche (AVAX) has recently posted significant gains, leaving our outlook unchanged. We continue to believe price is currently in a five-wave magenta upward move, which should soon push it above the resistance level at $36.19. Our alternative scenario also remains valid, in which AVAX could target new absolute lows below support at $8.64 (probability: 33%).

Ripple’s XRP has seen a modest rebound recently, but this hasn’t altered our outlook. We continue to expect further declines as part of a blue five-wave move down into the turquoise Target Zone ($1.03–$0.38), which is suitable for long-side entries. Within this zone, we anticipate that the low of the larger wave B in turquoise will be established. From there, we expect wave C to rally above resistance at $4.09 and complete the larger wave (Y) in magenta. We still assign a 30% probability to the scenario in which the low of wave alt.B in turquoise has already been reached.