XRP, ADA, SOL go parabolic after Trump US crypto reserve post: Will other altcoins follow?

Bitcoin ( $0.00 ) (BTC) witnessed solid buying over the weekend as US President Donald Trump announced that Bitcoin ( $0.00 ) , Ether (ETH), XRP ( $1.44 ) ( XRP ( $1.44 ) ), Solana (SOL), and Cardano ( $0.25 ) (ADA) would be included in a crypto strategic reserve. The announcement massively pumped the chosen coins, which made it risky for a fresh entry after the rally. The coins in this article have been selected for their technical setups rather than the Trump-based pump.

Apart from the crypto strategic reserve, in a sign that could create new demand for Bitcoin ( $0.00 ) , BlackRock added the iShares Bitcoin ( $0.00 ) ETF Trust (IBIT) to its $150 billion model portfolio, according to a Bloomberg report. The global investment firm is adding 1% to 2% allocation to portfolios that allow for alternative assets. This move opens the doors for a potential new demand for the Bitcoin ( $0.00 ) ETF.

However, some analysts believe that Bitcoin ( $0.00 ) could witness some more pain in the near term. They anticipate Bitcoin ( $0.00 ) to drop near $70,000 before starting the next leg of the bull move. Nexo dispatch analyst Iliya Kalchev told Cointelegraph that Bitcoin ( $0.00 ) could “establish firm support in the $72,000 to $80,000 range.”

Could Bitcoin ( $0.00 ) manage to hold above $90,000? If that happens, select altcoins apart from the ones chosen for the crypto strategic reserve may find buyers. Let’s look at the top cryptocurrencies that look strong on the charts.

Bitcoin ( $0.00 ) price analysis

Bitcoin ( $0.00 ) has reached the 20-day exponential moving average ($92,366), indicating aggressive buying at lower levels.

Sellers will try to stall the relief rally at the 20-day EMA. If the price turns down from the 20-day EMA, the BTC/USDT pair could drop to $85,000, which is a crucial support to watch out for. 

If the price rebounds off $85,000, the pair could rise above the 20-day EMA. The pair may then rally to the 50-day simple moving average ($97,704). Such a move will signal that the pair may have bottomed out in the near term.

If bears want to retain the advantage, they will have to swiftly pull the price below $83,000. If they manage to do that, the pair could retest the critical $78,258 support. 

The 20-EMA has started to turn up on the 4-hour chart, and the relative strength index (RSI) has jumped into the overbought zone, indicating that the bulls are on a comeback. If the price remains above $90,000, the pair could climb to $96,000 and then $100,000.

The first sign of weakness will be a break below the 50-simple moving average. That could sink the pair to the 20-EMA, which is likely to attract buyers. The bears will be back in the driver’s seat if they pull the pair below $83,000.

Hedera price analysis

Hedera (HBAR) rose above the 20-day EMA ($0.22) and reached the 50-day SMA ($0.26) on March 1.

The 20-day EMA is the critical support to watch out for on the downside. If the price rebounds off the 20-day EMA, it will signal a change in sentiment from selling on rallies to buying on dips. The bulls will again try to propel the HBAR/USDT pair above the 50-day SMA. If they can pull it off, the pair may rise to $0.32.

Contrarily, a break and close below the 20-day EMA suggests that the bears remain sellers on rallies. The pair may slump to $0.18, where the bulls will try to arrest the decline.

The pair turned down from $0.26 but is likely to find support at the 20-EMA on the 4-hour chart. If the price rebounds off the 20-EMA with force, it will signal buying on dips. That improves the prospects of a rally to $0.28.

Instead, if the price continues lower and breaks below the 20-EMA, it will suggest that the bulls are losing their grip. The pair may tumble to the 50-SMA, which is likely to act as strong support.

Litecoin ( $55.99 ) price analysis

Litecoin ( $55.99 ) (LTC) has been trading inside a symmetrical triangle pattern, indicating indecision between the buyers and sellers.

The flattish 20-day EMA ($122) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price rises and sustains above the 20-day EMA, the bulls will try to push the LTC/USDT pair above the resistance line. If they succeed, the pair may rise to $147.

Contrarily, a close below the moving averages suggests that the short-term advantage has tilted in favor of the bears. The pair may skid to the support line, which is a crucial level for the bulls to defend because a break below it may sink the pair to $86.

The pair has dipped below the moving averages on the 4-hour chart, indicating that the bears are trying to take charge. If the price sustains below the moving averages, the pair could descend to $114 and then to the support line.

Buyers will have to push and maintain the price above the moving averages to open the doors for a rise to $132 and later to the resistance line. The up move could pick up momentum after the price closes above the resistance line.

Related: Here’s what happened in crypto today

Monero price analysis

Monero (XMR) bounced off the $205 level and rose above the moving averages, signaling solid buying on dips.

The flattish 20-day EMA ($224) and the RSI near the midpoint suggest that the XMR/USDT pair may swing between $205 and $245 for a few days. If the price stays above the 20-day EMA, the pair could retest the $245 resistance.

On the contrary, if buyers fail to maintain the price above the moving averages, it will suggest a lack of demand at higher levels. The bears will then try to pull the price down to the support of the range at $205.

The 20-EMA has started to turn up on the 4-hour chart, and the RSI is in the positive zone, indicating an advantage to buyers. The pair could rise to $238, where the bears are expected to step in.

On the downside, a break and close below the 20-EMA suggests that the bears are back in the game. The pair may slide to $216, and if this level cracks, the next stop could be the solid support at $205.

Celestia price analysis

Celestia (TIA) has risen above the moving averages, and the bulls are trying to sustain the price above the breakdown level of $4.14.

If they manage to do that, it will signal that the markets have rejected the breakdown. There is minor resistance at $4.50, but if the level is crossed, the TIA/USDT pair could climb to $5.50. Sellers are expected to defend the $5.50 level aggressively.

This positive view will be invalidated in the near term if the price turns down and breaks below the 20-day EMA ($3.66). That could sink the pair to $3 and subsequently to $2.72. Such a move will suggest that the bears have flipped the $4.14 level into resistance.

Both moving averages have started to turn up, and the RSI is in the positive territory on the 4-hour chart, indicating an advantage to buyers. The first sign of weakness will be a break and close below the moving averages. If that happens, the pair could drop to $3.40 and later to $3.

If buyers want to retain the advantage, they will have to defend the 20-EMA and quickly push the price above $4.31. The $4.50 level may prove to be a stiff resistance, but if the buyers overcome it, the pair could jump to $5. 

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.