Cryptocurrency traders were in a pleasant surprise on March 2 after US President Donald Trump announced a cryptographic strategic reserve covering Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA). The message caused huge shopping, and Bitcoin increased from around USD 85,000 to USD 95,000, and Cardano galloped over 72%. Other Altcoins also saw a mighty rally.

However, the main research analyst at Nansen, Aurelie Barthere, said that the establishment of the American cryptographic reserve would take time because it requires voting in Congress. Research analyst Nicolai Sondergaard from the same Blockchain analytical company told Cointelegraph that tokens chosen to the cryptographic reserve will probably be witnesses of volatility.

Before the announcement of Trump, the sentiment in the cryptocurrency sector remained negative. Last week, Cinshares reported $ 2.9 billion from outflows from commercial products with the exchange of cryptocurrencies. It was the third in a row outflow week after a 19-week inflow series.

Will the rally continue after the initial reaction of the tiny coverage and purchase by traders? Let’s look at the charts to determine their levels of support and resistance.

Bitcoin prices analysis

Bitcoin fell below the 20-week-old movable average (USD 90,623) last week and immersed near the 50-week-old straight movable average (75,534 USD), but a long tail on the candlestick shows solid shopping at lower levels.

Medium movable upsoping indicate an advantage for buyers, but a negative discrepancy on the relative strength indicator (RSI) suggests that the stubborn rush weakens. If the price drops and maintains below 20-week EMA, it will signal the beginning of the repair phase, which can reach the 50-week SMA.

On the contrary, if the price remains above the 20-week EMA, it indicates that the sentiment remains positive and traders are still buying declines. This improves the perspectives of the re -test of the highest all -time at USD 109,588. A break above USD 109,588 can start the next stage of growth to USD 138,000.

The BTC/USDT pair increased above 20-day EMA on March 2, but the bulls could not maintain higher levels. The zone from 90,000 to USD 85,000 will probably attract solid shopping via bulls. If the price reflects from the support zone, it will escalate the likelihood of a rally above 100,000 USD.

This positive view will be annulled if the price is lower and breaks below the support zone. This indicates that bears have control. The couple can sort out to 78 258 USD, and then to 73 777 USD.

Analysis of ether prices

Ether in the last few weeks has been associated with USD 2111 to USD 4094, which indicates a purchase near support and sales near resistance.

Both average movable ones began to reject, and RSI is located on a negative territory, which suggests that bears have an advantage. If the price is lower and breaks below USD 2111, it indicates the beginning of a deeper correction to USD 1500.

On the contrary, a mighty reflection of USD 2111 suggests that bulls aggressively defend the level. Buyers will have to drive a pair of ETH/USDT above the average traffic to signal the return. The couple can then rise to 4,094 USD, which can act as a mighty barrier.

The couple affected the support of USD 2,111 and reached the 20-day EMA (USD 2544) on March 2. Non-compliance with the 20-day EMA suggests that bears sell on rallies. Sellers will try to sink a pair below USD 2111 again. If they manage to do this, the couple risk a decrease to USD 1,500.

Buyers will have to throw the price above the relegation line to signal the return. The couple can then try a rally up to USD 3,400, and then to USD 3,750.

XRP price analysis

XRP is fighting to maintain above 3 USD, signaling that bears are rapidly defending the level.

The 20-week-old EMA (USD 2.18) and RSI in the positive zone suggest that buyers have an advantage. Bulls will have to push and maintain a price above 3 USD to indicate the start of the next stage of growth in the direction of 4 USD, and then 5 USD.

This sanguine view will be negated if the price drops and breaks below 20-week EMA. There is mighty support of $ 2, but if the level is distributed, it will signal the beginning of a deeper correction to USD 1.50.

Bulls pushed the pair above the resistance $ 2.84 on March 2, but they try to keep a breakthrough. The couple fell to an EMA 20-day (USD 2.50), which is an critical support to be careful. If the price reflects from the 20-day EMA, the Bulls will try to push the steam to 3.40 USD again. The break above this resistance can start the next stage of up to $ 5.

And vice versa, a break and closing below 20-day EMA risks the fall of solid support in the amount of USD 1.99. Closing below USD 1.99 will complement the bear head pattern and shoulder, starting a downward factor up to USD 1.50, followed by USD 1.28.

Related: Why is Ethereum (ETH) the price today?

Solana price analysis

Solana has reflected from USD 125 support, but the Relief rally is sold near the 50-week SMA (173 USD).

The 20-week EMA (USD 191) began to reject, and RSI is just below the middle point, which indicates the advantage of sellers. There is a slight support of USD 157, but if the level breaks, the SOL/USDT pair may re -supplement USD 125 support. A break and closing below USD 125 can sink a pair of 80 USD.

If the bulls want to prevent the minus, they will have to quickly run and maintain a price above 20-week EMA. This will open the door to the rally up to USD 220, and later to $ 260. A break and closing above USD 260 can start a fresh upward trend.

The pair increased above 20-day EMA (USD 167) on March 2, but the bulls could not maintain higher levels. This suggests that bears are busy at higher levels. If the price lasts below 20-day EMA, the couple may slip to USD 125.

On the other hand, a break and closing above USD 180 suggests that the buyers have returned to the game. The couple can climb to 50-day SMA (200 USD), and later to USD 220. Sellers are expected to defeat the zone from 240 to 260 USD rapidly.

Cardano price analysis

Cardano tries to create a cup and handle pattern on a weekly chart, which will end during a break and closing above USD 1.25.

The 20-week EMA (0.82 USD) is falling, and RSI is in a positive zone, signaling the advantage for buyers. If the price closes above USD 1.25, the ADA/USDT pair may escalate to USD 1.60, and later to the target of a standard in the amount of USD 2.26.

On the contrary, if the price drops and breaks below 20-week EMA, it will suggest the formation of the range in the near future. The couple can fluctuate for some time between USD 1.25 and 50-week SMA (0.59 USD).

The couple increased rapidly above the falling channel pattern on March 2, which indicates that the correction may end. However, the sellers did not give up and caught the price back into the channel. If the price stays in the channel, it suggests that the markets have rejected the breakthrough. The pair may fall to the 50-day SMA (0.85 USD), which will probably attract buyers.

If the bulls want to maintain an advantage, they will have to push quickly and maintain the price above the resistance line. The couple can then collect up to USD 1.25.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.