Bitcoin (BTC) surged past $92,994 over the weekend following President Trump’s unexpected statement that a new U.S. crypto strategic reserve would include Bitcoin, Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA).
The announcement triggered a massive rally in the selected assets, leading analysts to question whether other altcoins might follow suit. However, entering these assets after such a sharp move presents risks, making technical setups a crucial factor in identifying potential opportunities.
Institutional Adoption Gains Traction
Alongside the government’s endorsement, institutional demand for Bitcoin is growing. BlackRock added the iShares Bitcoin ETF Trust (IBIT) to its $150 billion model portfolio, according to Bloomberg. The firm has allocated 1% to 2% of its portfolio to Bitcoin ETFs, opening the door for significant institutional inflows.
Bitcoin’s Next Move: Holding $90K or Testing $70K?
Despite the bullish momentum, some analysts anticipate a short-term correction. Nexo analyst Iliya Kalchev suggests Bitcoin could dip between $72,000 and $80,000 before resuming its uptrend.
Key Support Levels:
- $85,000: Bulls need to defend this zone to maintain upward momentum.
- $83,000: A break below could trigger a retest of $78,258.
Key Resistance Levels:
- $97,704: 50-day SMA—bulls need to reclaim this level for a stronger rally.
- $100,000: Psychological barrier that could spark further institutional buying.
Altcoin Watch: Will More Coins Rally?
📈 XRP Price Outlook
XRP skyrocketed following the announcement, crossing $2.81. If it holds above the 20-day EMA, bulls may target $3.20. However, a break below $2.50 could trigger a retracement.
🔥 Cardano (ADA) Technical Analysis
Cardano reached $1.06 after Trump’s statement. It now faces key resistance at $1.12. If rejected, support lies at $0.95. A strong breakout above $1.20 could confirm the continuation of the uptrend.
🚀 Solana (SOL) Price Action
Solana surged past $170.12, testing the 50-day SMA. If it sustains momentum, a move toward $190 is possible. On the downside, the $150 level remains critical for bulls to defend.
Final Thoughts: Can the Crypto Market Sustain This Rally?
Trump’s endorsement of a crypto reserve has sent shockwaves through the market, but long-term sustainability remains uncertain. Traders should monitor Bitcoin’s ability to hold above $90,000 and whether institutional flows continue supporting the rally.
While XRP, ADA, and SOL have taken the lead, other altcoins could soon attract investor interest. Market conditions remain volatile, making it essential to track technical levels before making trading decisions.
