The post Trump crypto strategic reserve coins ‘ADA, XRP, SOL’ dump, Bitcoin follows appeared on BitcoinEthereumNews.com.

Cryptocurrency traders were in 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 triggered huge buying, with Bitcoin rising from about $85,000 to $95,000 and Cardano galloping more than 72%. The remaining altcoins also saw a strong rally. However, Nansen principal research analyst Aurelie Barthere said that establishing a US crypto reserve will take time as it needs a vote in Congress. Research analyst Nicolai Sondergaard from the same blockchain analytics firm told Cointelegraph that the tokens selected for the crypto reserve are likely to witness volatility. Crypto market data daily view. Source: Coin360 Prior to Trump’s announcement, the sentiment in the cryptocurrency sector remained negative. CoinShares reported $2.9 billion in outflows from cryptocurrency exchange-traded products last week. That marked the third consecutive week of outflows after a 19-week inflow streak. After the initial reaction of short covering and buying by traders, will the rally continue? Let’s look at the charts to determine their support and resistance levels. Bitcoin price analysis Bitcoin fell below the 20-week exponential moving average ($90,623) last week and dipped near the 50-week simple moving average ($75,534), but the long tail on the candlestick shows solid buying at lower levels. BTC/USDT weekly chart. Source: Cointelegraph/TradingView The upsloping moving averages indicate an advantage to buyers, but the negative divergence on the relative strength index (RSI) suggests that the bullish momentum is weakening. If the price slips and maintains below the 20-week EMA, it will signal the start of a corrective phase that could reach the 50-week SMA. Contrarily, if the price remains above the 20-week EMA, it will indicate that the sentiment remains positive, and traders continue to buy the dips. That improves the…

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Filed under: News - @ March 4, 2025 7:23 am