Bitcoin (CRYPTO: BTC) remains stuck in a tight multi-week range, while Ethereum (CRYPTO: ETH) is one of the more compelling setups in crypto, according to prominent technical analyst DonAlt.
He says Solana (CRYPTO: SOL), XRP (CRYPTO: XRP) and much of the broader altcoin market will likely underperform the former in the future.
Bitcoin Breakout Could Run
In a podcast on Aug. 12, DonAlt said Bitcoin has effectively gone nowhere for six to ten weeks, repeatedly testing resistance while holding support.
He highlighted roughly $65,600 as the key upside level. A convincing breakout above that area could create a momentum trade and potentially trigger a fast move higher.
On the downside, he sees the low $62,000 region as increasingly important. A deeper move toward that area would raise the odds of another test of the range lows.
Despite the lack of momentum, DonAlt said sentiment looks too pessimistic relative to the actual price action.
“People are overly bearish,” he said, noting that calls for $40,000 Bitcoin increasingly appear to treat another collapse as inevitable despite BTC continuing to hold its broader range.
His current bias: “Up is probably more likely than down.”
Ethereum Outlook Looks Stronger
DonAlt said Ethereum is still trading against major resistance around $1,900, but its performance against Bitcoin has improved substantially.
If ETH clears that resistance, he sees the potential for a rapid move toward roughly $2,400 to $2,500.
That leaves him considering buying before confirmation rather than chasing a breakout later.
“I kind of feel like the resistance is more likely to break than not,” DonAlt said.
He also prefers Ethereum “not even close” when choosing between ETH, XRP and Solana, arguing that ETH offers the stronger long-term relative setup.
Solana Setup Unclear, XRP Narrative Weak
Solana, by comparison, is sitting in what DonAlt described as the “middle of nowhere.”
Unlike Ethereum, which has identifiable support and resistance levels offering cleaner risk management, Solana currently lacks an obvious invalidation point.
He sees a more attractive SOL trade emerging if it reclaims roughly $100, potentially opening a move toward $120.
Longer term, however, DonAlt expects Ethereum to outperform Solana.
DonAlt is similarly cautious on XRP as he said the setup that originally attracted him has disappeared.
XRP is now trading around $1 after a brutal decline, and DonAlt sees little compelling technical support until potentially around $0.75.
More importantly, the narrative catalyst that drove his earlier trade has weakened.
While XRP could still rally alongside broader retail participation, DonAlt said he would probably choose another asset if deploying capital today.
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