Trump Crypto Strategic Reserve Coins ‘Ada, XRP, Sol’ Dump, Following Bitcoin

Cryptocurrency entrepreneurs are for a pleasant surprise on March 2 after US president Donald Trump announced a crypto strategic reserve To include bitcoin (Btc), Ether (Eth), XRP (XRP), Solana (Sol), and Cardano (Ada). The news has sparked a huge purchase, with rising Bitcoin from about $ 85,000 to $ 95,000 and Cardano Galloping is over 72%. The remaining altcoins too Saw a strong rally.

However, Nansen Principal Research Analyst Aurelie Barthere said the establishment of a US Crypto Reserve will last time Because it requires a vote in Congress. Research analyst Nicolai Sondergaard from the same blockchain analytics firm told Cointelegraph that tokens selected for the crypto reserve are likely to witness volatility.

Prior to Trump’s announcement, the sentiment in the cryptocurrency sector remained negative. Coinhares reported $ 2.9 billion in streams From the cryptocurrency exchange exchange products last week. That was marked the third consecutive week of flowing after a 19-week flow.

After the initial reaction of the short cover and buying merchants, will the rally continue? Let’s look at the charts to determine their support and resistance levels.

Bitcoin price analysis

Bitcoin fell under 20-week exponential transfer of average ($ 90,623) last week and sank near the 50-week simple transfer of average ($ 75,534), but the long tail in the candle shows solid purchases at lower levels.

The irritating average moves indicate an advantage over consumers, but the negative difference -a relative -child Index index (RSI) suggests that the bullish momentum has weakened. If the price is slipping and maintaining below the 20-week EMA, it will signal the start of a corrective phase that can reach 50-week SMA.

Especially, if the price remains above the 20-week EMA, it indicates that emotions remain positive, and traders will continue to buy dips. That improves prospects of an all-time retest high at $ 109,588. A break above $ 109,588 can start with the next uptrend leg for $ 138,000.

The BTC/USDT pair rose above the 20-day EMA on March 2, but the Bulls could not maintain a higher level. The $ 90,000 to $ 85,000 zone is likely to attract solid purchases of bulls. If the price reblogles the support zone, it will increase the likelihood of a rally of over $ 100,000.

This positive view is invalid if the price continues to lower and break below the support zone. That will indicate the bear is in control. The pair could fall at $ 78,258 and then $ 73,777.

Ether price analysis

Ether has been bound between $ 2,111 and $ 4,094 over the past few weeks, indicating the purchase near support and sale near the resistance.

Both moving averages began to turn away, and the RSI were in the negative territory, suggesting that the bears had one side. If the price continues to lower and break below $ 2,111, it will signal the start of a deeper correction to $ 1,500.

By contrast, a strong rebound of $ 2,111 suggests that the bulls are aggressively defending the level. Consumers need to push the ETH/USDT pair above the moving averages to signal a comeback. The pair can climb to $ 4,094, which is likely to act as a strong barrier.

The pair bounced from $ 2,111 support and reached 20-day EMA ($ 2,544) on March 2. Failure to pierce the 20-day EMA suggests that bears are selling in rallies. Seller will try again to sink the pair below $ 2,111. If they manage to do that, the pairs’ risks will fall to $ 1,500.

Consumers need to kick the price above the downtrend line to signal a comeback. The pair can test a rally at $ 3,400 and subsequently to $ 3,750.

XRP price evaluation

The XRP has difficulty to maintain over $ 3, signing that the bears are fiercely defending the level.

The irritating 20-week EMA ($ 2.18) and the RSI in the positive zone suggest that consumers have sides. The Bulls will have to push and maintain the price above $ 3 to indicate the start of the next leg of the phase to $ 4 and then $ 5.

This optimistic view will be neglected if the price drops and breaks below the 20-week EMA. There is a strong support to $ 2, but if the level breaks, it signals the start of a deeper correction to $ 1.50.

Bulls pushed the pair above $ 2.84 resistance on March 2 but had difficulty touching the breakout. The pair drops to 20-day EMA ($ 2.50), which is an important support to guard. If the price bounces on the 20-day EMA, the Bulls will try again to push the pair to $ 3.40. A rest above this resistance can start with the next Uptrend leg for $ 5.

Conversely, a break and close to the bottom of the 20-day EMA is at risk of a solid support for $ 1.99. A close below $ 1.99 will complete a head-and-shoulders pattern, starting a downtrend at $ 1.50 and then $ 1.28.

Related: Why is the price of Ethereum (ETH) today?

Solana’s price assessment

Solana rebounds from $ 125 support, but the relief rally faces sale near the 50-week SMA ($ 173).

The 20-week EMA ($ 191) began to turn away, and the RSI was just below the midpoint, indicating the advantage of sellers. There is a minor support for $ 157, but if the level cracks, the SOL/USDT pair can reresthew $ 125 support. A break and close to the bottom $ 125 can sink the pair to $ 80.

If the bulls want to avoid the downside, they will need to drive quickly and maintain the price above the 20-week EMA. Doing so will open doors for a rally at $ 220 and later at $ 260. A break and close to the top of $ 260 can start a new exertend.

The pair advanced above the 20-day EMA ($ 167) on March 2, but Bulls could not maintain a higher level. This indicates that the bears are active at a higher level. If the price retains below the 20-day EMA, the pair can slide to $ 125.

Upside down, a break and near the top of $ 180 suggest that consumers return to the game. The pair could climb to 50-day SMA ($ 200) and eventually to $ 220. Seller is expected to defend the zone between $ 240 and $ 260.

Cardano’s price assessment

Cardano tries to build a cup pattern-and handle on the weekly chart, to be completed at a break and near the top of $ 1.25.

The 20-week EMA ($ 0.82) is slipping, and the RSI is in the positive zone, signaling the advantage of consumers. If the price closes above $ 1.25, the ADA/USDT pair can rise to $ 1.60 and later in the target pattern of $ 2.26.

Especially, if the price drops and breaks down below the 20-week EMA, it will suggest a formation form in the near term. The pair can swing between $ 1.25 and the 50-week SMA ($ 0.59) in a few hours.

The pair was lying above the descending channel pattern on March 2, indicating that the correction could be completed. However, the sellers did not give up, and they pulled the price back to the channel. If the price remains inside the channel, it suggests that the markets have rejected the breakout. The pair can drop to 50-day SMA ($ 0.85), which is likely to attract consumers.

If the bulls want to maintain the advantage, they will need to quickly push and maintain the price above the resistance line. The pair can rally at $ 1.25.

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.