The post XRP, ADA, SOL go parabolic after Trump US crypto reserve post: Will other altcoins follow? appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) witnessed solid buying over the weekend as US President Donald Trump announced that Bitcoin, Ether (ETH), XRP (XRP), Solana (SOL), and Cardano (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, BlackRock added the iShares Bitcoin 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 ETF. Crypto market data daily view. Source: Coin360 However, some analysts believe that Bitcoin could witness some more pain in the near term. They anticipate Bitcoin to drop near $70,000 before starting the next leg of the bull move. Nexo dispatch analyst Iliya Kalchev told Cointelegraph that Bitcoin could “establish firm support in the $72,000 to $80,000 range.” Could Bitcoin 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 price analysis Bitcoin has reached the 20-day exponential moving average ($92,366), indicating aggressive buying at lower levels. BTC/USDT daily chart. Source: Cointelegraph/TradingView 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…

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Filed under: News - @ March 2, 2025 11:27 pm