The crypto market experienced positive price movements in response to the US tariff news and anticipation of an upcoming crypto summit. The Commerce Secretary, Howard Lutnick, confirmed that Donald Trump will announce Strategic Crypto Reserves during the summit. This article analyzes three cryptocurrencies - Aptos (APT), Cronos (CRO), and Bitcoin Cash (BCH).

Aptos is a layer-1 network with over $1 billion in total value locked (TVL) and a high stablecoin market cap. The price of Aptos has risen this week, driven by Bitwise filing for a spot APT ETF. However, technical analysis suggests that the gains may be limited, with potential for further decline. If Aptos drops below $5.17, it could reach the next support level at $4. On the other hand, if it surpasses $7, there is potential for further upside.

Bitcoin Cash has seen an increase in price due to hopes that the Securities and Exchange Commission will approve a spot BCH ETF. The formation of a double-bottom chart pattern and movement above the 50-day moving average suggests that the price will continue to rise. Bulls may target the next resistance level at $640, which is approximately 61% higher than the current level.

Cronos has faced downward pressure in recent months, but there are signs of a potential rebound. The price fell from $0.2351 to a low of $0.0700 and is currently below the 50-day moving average. However, the MACD indicator has formed a bullish divergence pattern, indicating a potential bounce back. The psychological point at $0.10 may be retested, but a drop below the support at $0.07 could invalidate the bullish view.

Overall, the market will likely react to Trump's crypto summit, which will involve well-known participants from companies such as Tether, Ripple, and Coinbase. Additionally, the upcoming nonfarm payrolls (NFP) data could also impact crypto prices as it provides insights for the Federal Reserve's next moves.



Other News from Today