Cryptocurrencies have been experiencing volatility this week as President Donald Trump’s reciprocal tariffs come into effect and the U.S. prepares to publish nonfarm payroll data. The market started off on a dull note, with most coins remaining in a bear market. Bitcoin (BTC) dropped to $82,432.00, and the crypto fear and greed index slumped to the fear zone at 25.
Among the top cryptocurrencies to watch this week are Solana, Polkadot, and Cronos. Solana (SOL), a popular layer-1 network, is in the spotlight as its price hovers above the key support level at $119.5. The price has consistently failed to drop below this level since April last year, indicating bearish reluctance to short below it. A drop below $119.5 would confirm a bearish breakdown with potential further downside, especially after the formation of a death cross pattern on March 3.
Cronos (formerly Crypto.com) is another cryptocurrency to keep an eye on this week due to its strong performance in the past week. It saw a 30% jump in the last seven days and a 54% increase from its lowest point this year. The price rebounded after hitting a crucial support level at $0.0715, showing resilience and potential for further gains, especially after recent community decisions to create a Strategic Crypto Reserve and burn 50 million CRO tokens.
Polkadot (DOT) is also a top crypto to watch this week as its price sits at a crucial support level of $3.60. The support has held strong since 2022, and the price has formed a falling wedge pattern, indicating a potential bullish breakout in the near future. A move to $12 could be on the horizon for Polkadot.
Overall, the cryptocurrency market is poised for an eventful week with potential price movements and developments to watch closely. Investors and traders will be keeping a close eye on Solana, Polkadot, and Cronos as they navigate the volatile market conditions.