Crypto traders got an unexpected boost on March 2 when US President Donald Trump announced a new crypto strategic reserve featuring Bitcoin, Ether, XRP, Solana, and Cardano. The news triggered a massive buying spree, pushing Bitcoin up from around $85,000 to $95,000, while Cardano skyrocketed over 72%.

Other altcoins joined the rally, riding the bullish wave. However, Nansen research analyst Aurelie Barthere pointed out that creating a US crypto reserve will take time, as it still needs congressional approval. Another Nansen analyst, Nicolai Sondergaard, warned that the selected tokens are likely to experience increased volatility.

Bitcoin dipped below the 20-week exponential moving average ($90,623) last week and nearly touched the 50-week simple moving average ($75,534), but the long tail on the candlestick signals strong buying at lower levels. The BTC/USDT pair climbed back above the 20-day EMA on March 2, but the bulls couldn’t hold their ground. The $90,000 to $85,000 zone remains a key support area where buyers are expected to step in aggressively. If the price rebounds from this zone, it increases the chances of a rally beyond $100,000. However, if the price breaks below this support range, it would confirm that the bears are back in control. In that case, BTC could slide further to $78,258 and then to $73,777.

Ether continues to trade within a wide range between $2,111 and $4,094, signaling buying near support and selling near resistance. The moving averages are starting to trend downward, and the RSI is in negative territory, giving bears the upper hand. If the price breaks below $2,111, it could trigger a deeper correction to $1,500. On the flip side, if buyers defend $2,111 and push the ETH/USDT pair above the moving averages, it would indicate that bulls are attempting a comeback.

The pair could then climb toward $4,094, but this level is expected to act as a strong resistance. ETH bounced off $2,111 and touched the 20-day EMA ($2,544) on March 2, but the failure to break past it suggests that bears are selling into rallies. Sellers will make another attempt to drag the pair below $2,111, and if they succeed, ETH could be at risk of dropping to $1,500.

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