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- The upcoming White House Crypto Summit on March 7 is driving market activity and increasing interest in major cryptocurrencies.
- HBAR and LINK show strong potential for gains, while meme coins TRUMP and MELANIA face volatility.
The crypto market is rallying as the White House gears up for a Crypto Summit set for March 7, as CNF reported. The event, spearheaded by President Donald Trump, seeks to convene the main players in the crypto industry as well as regulators in solving stablecoin policies, operating Bitcoin, and other policy frameworks. This has led to the higher activity of altcoins, with some of them displaying very active market activity.
Hedera (HBAR)
Hedera (HBAR) has emerged trading since a 30% rebound from a key support level. Trading at $0.2314 on Monday, February 4th, the token has been down slightly, at 6%, in the past twenty-four hours. However, according to analysts, the technical outlook for HBAR is bullish.
Cas Abbe, a technical analyst, pointed out an RSI breakout and MACD crossover for the first time since December 2024 in early March 2025. These signals suggest price increase towards $0.33 before a small pull back. If the upward trend continues, HBAR may test previous high of $0.5701 recorded in September 2021.
Chainlink (LINK)
Since its inception, Chainlink (LINK) has become a leading player in the crypto market, especially in the Real-World Asset (RWA) and Oracle sectors. The token was trading at $13.84, yesterday on Monday 4th Feb and in the last 24 hours, it has declined by 13%.
The RSI indicates that LINK has been oversold, with an RSI of 33, which is an indication of a rebound. If such momentum is sustained, the price could rise to get even close to $28 – $30. Although this is the case, the MACD histogram is still in the red, indicating potential bear pressure.
Trump-Related Meme Coins
The upcoming Crypto Summit has also seen discussions regarding Trump-themed meme coins, including Official Trump (TRUMP) and Melania Meme (MELANIA). TRUMP has been trading below $20 for the last two weeks and can possibly gain renewed interest after the event. The token, which was doing well some months ago, boasting a $15 billion market capitalization, is currently valued at about $3 billion.
In case of buying pressure, TRUMP may retest $17, $20, and $24.5, with targets towards $30. If the downtrend continues, the token could drop to $12.1 or go even lower, which would be the lowest price since its launch.
Similarly, MELANIA has shown a similar trend, reducing below the level it started at in January. It has been on a declining trend in the last month and is still trading below the $1 mark. Major investors have incurred heavy losses, some of which have sold their tokens at horrifying losses.
If the market recovers, MELANIA can return to the levels seen at $1.29 or $1.39, and if the rebound is more significant, it can hit $1.61. Any reversal in the current trends could trigger a further decline and test the lows of $0.80 and $0.70.
Uniswap (UNI)
The Uniswap (UNI) token also had a bearish performance, with its price dropping to $6.778 after being 12% down. Major support is accorded to $6.50, while an even higher level of support is at $6.00. Support levels are identified at $7.50, $8.20, and $9.00. The current RSI is at 34.39, which is quite close to being oversold, and therefore, any buying activity in the market would trigger a reverse trend.
However, the MACD is still in bearish territory, suggesting more weakness in momentum. A bullish signal would be to trade above $7.50 while trading below the support indicates further declines.
