The Cryptocurrency community is waiting for the first White House encryption summit on March 7 and is expected to provide more details on the planned password protection zones announced by President Donald Trump on March 2.
The initial announcement included Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA), but some critics have blamed the idea of adding centralized altcoin to the protection zone with Bitcoin. In an interview with Pavlovic today, Howard Rootnick, the US Minister of Commerce Lutnick, said Bitcoin is likely to have a special status in the nationwide cryptographic reserve.
Encryption market data every day. source: Coin 360
Matt Hougan, the chief investor of Bitwise, said on March 5 that the US encryption reserve army said, “It will be almost entirely bitcoin and greater than people think.” He added that a similar announcement will follow US encryption reserve troops in other countries.
Cryptocurrencies has been proposed to be included in the Crypto Reserve after the announcement, but returned much of their interests. Their weekly charts were analyzed to avoid short -term noise. It will help you understand the level of popular movements.
Bitcoin price analysis
Bitcoin prices have rebounded in recent sales, and positive signs are that bulls can’t close the price of less than the 20 -week index ($ 90,664). This shows that the bull is activated at a low level.
BTC/USDT weekly chart. Source: COINTELEGRAPH/TradingView
The bull will try to strengthen their position by pushing the price higher than the psychological barrier to $ 100,000. If they do so, it will remove the re -test path of all time at $ 109,588. Sellers try to defend the $ 109,588 level, but if Bulls prevail, the BTC/USDT pairs can increase to $ 138,000.
Contrary to this family, it suggests that if the price does not maintain more than $ 100,000, the bear is trying to form the lowest. Then the pair can then go down to the 50 -week simple moving average ($ 75,543).
Ether price analysis
The ether formed a wide range of $ 2,111 to $ 4,094. The price has recently slipped to less than $ 2,000, but the long tail of Candlestick shows that it is purchased at a low level.
ETH/USDT weekly chart. Source: COINTELEGRAPH/TradingView
At $ 2,111, weak rebounds suggest that demand is being dried. This increases the risk of classification to less than $ 2,111. In this case, it indicates that the ETH/USDT pairs may have ranked first in the short term. The pair can start the downturn for $ 1,500 and then start with $ 1,075.
The buyer must push the price and maintain the price than the moving average to send the signal that the range of bounds remained intact. Then the pair can then go up to the top of the range to $ 4,094. This is an important overhead resistance for bears to defend. The above break is because the rally can lead to $ 4,868, which can eventually lead to a goal of $ 6,077.
XRP price analysis
XRP has been integrated from the rise. After the vertical rally, the price usually breathe before starting the next trend movement.
XRP/USDT weekly chart. Source: COINTELEGRAPH/TradingView
The XRP/USDT pairs cause vibrations between $ 2 and $ 3 for several weeks, indicating a tough battle between the bull and the bear. The seller is defending overhead resistance while the bull is buying nearby. The longer the price, the stronger the final escape.
More than $ 3 breaks and finishes are the first sign that the range has been solved in favor of the bull. It starts the door of possible rally for $ 4 and $ 5. Instead, if the price drops and destroys less than $ 2, it indicates that the pair was ranked first in the middle. This increases the risk of falling at $ 1.50.
relevant: Will Bitcoin prices collide again?
Solana price analysis
Solana recorded a new record on January 19, but it turned out to be a bull ship. The price has been a solid correction that represents the sales of merchants since then.
SOL/USDT weekly chart. Source: COINTELEGRAPH/TradingView
The bull is expected to violently defend the support area of $ 120 to $ 110. If they succeed, they suggest that $ 110 is a new floor. But the bear will not give up easily. They will be sold for 20 weeks EMA ($ 190) in the rally. If the price drops from the 20 -week EMA, the pair will drop to $ 110 and you can swing between these two levels for several weeks. Rest and less than $ 110 can sink pairs to $ 80.
The first sign of the force is to rest and 20 weeks of Emma. There is a resistance for $ 205, but it’s likely to cross. In this case, the SOL/USDT pair can be rallyed at $ 260, where the bear is expected to be powerful. The buyer must achieve more than $ 260 to announce the beginning of the new rise.
Cardano price analysis
Cardano has been fixed below $ 1.25 since early 2022, but a little positive is that the bull is trying to return.
ADA/USDT weekly chart. Source: COINTELEGRAPH/TradingView
If a buyer drives more than $ 1.25, the ADA/USDT pair can increase the amount of exercise. In general, a strong increase occurs if the price is out of the basic formation. This pair can face a slight resistance at $ 1.64, but is likely to cross. Then the pair was able to go up to $ 2.38.
Or if the price is maintained at less than $ 1.25, you can be tempted to book a short -term trader that may have been purchased at a low level. This allows you to raise the price to SMA ($ 0.59) for 50 weeks, which is a support to be careful. If the price rebounds in the SMA for 50 weeks, the bulls will push the pair to $ 1.25. Then the pair can be maintained in the range between SMA for 50 weeks and $ 1.25 for a while.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.