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Bitcoin(CRYPTO: BTC), Ethereum(CRYPTO: ETH) and Solana(CRYPTO: SOL) are retreating from their recent highs, but experienced trader DonAlt says the first pullback after the explosive rally has yet to invalidate the bullish market structure.
Why Crypto Can Go “Sideways/Up”
“Nothing’s really changed,” DonAlt said in a podcast on Aug. 29, noting that BTC’s weekly chart has barely deteriorated following one of its strongest recent upside impulses.
He argued that traders calling for an immediate return toward $70,000 to $72,000 may be overlooking the importance of momentum.
DonAlt expects Bitcoin to move “sideways slash up” unless reclaimed support breaks, with a deeper pullback likely leading to prolonged consolidation.
The $75,000 to $76,000 region represents Bitcoin’s first significant test.
Bitcoin could still retreat toward around $72,000 to $73,000 without destroying its weekly structure
However, a monthly close below roughly $73,000 would be a more significant warning that the rally was simply a bounce into resistance.
Ethereum’s $4,000 Target, Solana Breakout Intact
DonAlt is even more constructive on Ethereum, calling its technical structure one of the strongest among major cryptocurrencies.
“The more I look at this, the more bullish it seems to me,” he said.
The trader sees $2,300 as key Ethereum support, with a break potentially leading to $2,100-$2,200 and extended consolidation. If $2,300 holds, he sees the breakout intact with $4,000 as a potential target.
On the other hand, Solana surged out of its previous range and approached DonAlt’s $125 target before pulling back. Despite the retreat, it remains above its important breakout region around $96.
A return below that area would weaken the setup, while the larger bullish thesis would face a more serious challenge closer to $80 to $81.
He highlighted Solana’s recent shift from a low to a higher low followed by a sharp upside impulse as materially different from its behavior during the preceding bear market.
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