[ad_1]
Scalpers stand to gain if this bearish setup unfolds as expected. By placing a stop price right above the latest higher high and a first target at $140, the risk-reward ratio for this trade stands at 1.42.
This short-term move would not invalidate Solana’s bullish outlook for the next few days unless the drop accelerates below $140. If that happens, the odds would favor a retest of the $130 level in the near term.
Tomorrow will be a huge day for cryptocurrencies as President Trump will be hosting a widely awaited crypto summit. Confirmed attendees to the meeting include Michael Saylor (MicroStrategy), Vlad Tenev (Robinhood), Brad Garlinghouse (Ripple), and Sergey Nazarov (Chainlink).
Moreover, employment data will be published early in the day. The ADP Employment Change survey covering February showed that only 77,000 new jobs were created during the month. This figure came in way below analysts’ forecast of 140,000 for the period.
If the official data confirms this number, this could be bullish for cryptocurrencies as it could prompt the Fed to revisit its stance on monetary policy as the economy is starting to show signs of weaker growth.
[ad_2]
