Cryptocurrencies to watch this week: Solana, Polkadot, Cronos
Cryptocurrencies will likely be volatile this week once President Donald Trump’s reciprocal tariffs go into effect and the U.S. publishes nonfarm payroll data.
The week started on a dull note, with most coins remaining in a bear market. At last check, Bitcoin (BTC) had dropped to $82,432.00.
The crypto fear and greed index has slumped to the fear zone 25. Some of the top cryptocurrencies to watch this week are Solana, Polkadot, and Cronos.
Solana
Solana (SOL), the popular layer-1 network, will be in the spotlight this week since its price is hovering above the key support level at $119.5. As shown above, it has failed to drop below this level several times since April last year, a sign that bears have been afraid of shorting below it.
Therefore, a drop below $119.5 will confirm a bearish breakdown and point to further downside. Besides, the Solana price formed a death cross pattern on March 3 as the 50-day and 200-day moving averages crossed each other.
A drop below $119.6 indicates a further drop to $100.
Cronos
Cronos, formerly Crypto.com, will be one of the top cryptocurrencies to watch this week because of its strong performance last week. It jumped by 30% in the last seven days, and by 54% from its lowest point this year.
Cronos price has bounced back after Crypto.com partnered with Donald Trump’s Trump Media to launch ETFs. It also rose after the community voted to allow the creation of another 70 billion CRO tokens, which will be used to create a Strategic Crypto Reserve.
The community also voted to burn 50 million CRO tokens. The daily chart shows that the Cronos price rebounded after hitting the crucial support level at $0.0715, where it failed to drop below in August and November last year.
A breakout above this month’s high of $0.1197 will point to further gains, potentially to the 50% retracement level at $0.133.
Polkadot
Polkadot (DOT) will be a top crypto to watch because its price is at a crucial support level. DOT was trading at $4.08, a few points above the key support point at $3.60.
This support is crucial since it failed to drop below it several times since 2022.
Polkadot price has also formed a falling wedge pattern, with the two lines nearing their confluence level. This price action points toward a strong bullish breakout in most periods, which may happen this week. Such a move would see DOT price jump to $12.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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