Comparing Bitcoin, ETH, XRP, SOL, and ADA Charts Against US Crypto Reserve Speculations — What Should You Trade?

The cryptocurrency world is buzzing as everyone looks forward to the historic White House Crypto Summit scheduled for March 7. This event will likely shed more light on the proposed crypto reserve that President Donald Trump announced a few days earlier on March 2. The suggested reserve includes well-known cryptocurrencies like Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA). However, many experts and critics are not too happy about including centralized altcoins in the reserve alongside Bitcoin. Howard Lutnick, the U.S. Commerce Secretary, stated in an interview that Bitcoin would probably have a special role in the country’s crypto reserve.

According to Matt Hougan, Chief Investment Officer at Bitwise, in a market note from March 5, the U.S. crypto reserve will mostly consist of Bitcoin and could turn out to be more significant than many people expect. He also mentioned that other countries might follow suit with their own crypto reserves after seeing what the U.S. proposes.

After the announcement of the reserve, the prices of the suggested cryptocurrencies initially went up but then fell back some. Analysts are studying the price trends to figure out potential entry levels for future trading moves.

Bitcoin Price Prediction

Bitcoin seems to be bouncing back from a recent downturn. A positive sign is that the price has mostly stayed above the 20-week exponential moving average, which is around $90,664. This indicates that buyers, or bulls, are stepping in when the price dips.

The bulls are aiming to push Bitcoin’s price above the important psychological resistance level of $100,000. If they succeed, this could set the stage for another attempt to reach its all-time high, which currently stands at $109,588. Should the bulls continue to gain momentum, Bitcoin could potentially rise to $138,000.

On the other hand, if Bitcoin fails to hold above $100,000, it might suggest that sellers, or bears, are trying to take control. A drop below this level could lead the price down to around $75,543, which is the 50-week moving average.

Ether Price Analysis

Ether has created a trading range between $2,111 and $4,094. Recently, the price dipped below $2,000, but a long tail on the candlestick indicates that buyers are stepping in at lower levels.

A weak rebound off the $2,111 level signals decreasing demand. This raises concerns about a potential drop below that level, which would suggest a possible short-term peak for Ether. In such a case, the price could plummet to $1,500 and later to $1,075.

For Ether to keep its upward momentum, buyers need to push the price above the moving averages. If they can sustain that level, Ether may reach the top of the trading range at $4,094. A break above this resistance could lead to a rally toward $4,868 and a longer-term target of $6,077.

XRP Price Trends

XRP has been consolidating within an uptrend. After a rapid price increase, it usually takes a break before the next move starts.

The XRP price is fluctuating between $2 and $3, showing a battle between bulls and bears. Sellers are defending the upper resistance, while buyers are active near the support level. The longer XRP remains in this range, the more intense the eventual breakout will be.

A close above $3 would indicate that bulls are gaining control, opening the door for a possible run to $4 and then $5. Conversely, if the price drops below $2, it may signal a medium-term peak, increasing the risk of a decline to $1.50.

Solana Price Overview

Solana reached a new all-time high on January 19, but that high turned out to be a trap. The price has since corrected, indicating selling pressure from traders.

The bulls will fiercely protect the support zone between $120 and $110. If they manage to keep the price above this area, it will suggest that $110 has become a new strong support level. However, sellers will likely target rallies to the 20-week exponential moving average ($190) to sell off their holdings. If the price turns down from there, it could swing between these two levels for a few weeks. If it breaks below $110, Solana may drop to $80.

For an early sign of strength, a break above the 20-week EMA would be critical. Resistance is at $205, but if crossed, Solana could rally to $260, where sellers will likely attempt to resist further gains. Buyers will need to secure a strong close above $260 to indicate the start of a new upward trend.

Cardano Price Analysis

Cardano has been struggling below the $1.25 mark since the beginning of 2022. However, there is a glimmer of hope as bulls seem to be trying to make a comeback.

If buyers can push Cardano’s price above $1.25, it could gain significant momentum. Typically, breaking out from a long consolidation period leads to strong uptrends. After that, it may experience minor resistance at $1.64 but could eventually rise to $2.38.

If the price stays below $1.25, traders who bought at lower levels might take profits, leading to a decline toward the 50-week simple moving average ($0.59), which is a critical support level. If the price rebounds off this support with strength, the bulls will once again aim for $1.25, potentially leading Cardano to remain contained between the 50-week SMA and $1.25 for a while.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.